life insurance...
- Thread starter kowaleski
- Start date
U
usirchchris
Guest
I am 30 and don't have it. Don't want to give someone a reason to kill me. Yeah, I get paranoid when it comes to money.
al mc
Active Member
Term is much less expensive than whole life. If you are a disciplined saver I would buy term and invest savings difference between it and whole life.
Do you have someone you are trying to protect financially (wife/child(ren))?
Most buy insurance to financially protect loved ones in case they die.
Do you have someone you are trying to protect financially (wife/child(ren))?
Most buy insurance to financially protect loved ones in case they die.
kowaleski
Member
Originally Posted by Al Mc
http:///forum/post/2989727
Term is much less expensive than whole life. If you are a disciplined saver I would buy term and invest savings difference between it and whole life.
Do you have someone you are trying to protect financially (wife/child(ren))?
Most buy insurance to financially protect loved ones in case they die.
well I want to buy a motorcycle and wife will not let me until I get life insurance as well- but yes I have wife that doesn't work and 3 kids
I don't like the fact with term that once it is over I walk away with nothing on the other hand the whole policy is 200 more a month
http:///forum/post/2989727
Term is much less expensive than whole life. If you are a disciplined saver I would buy term and invest savings difference between it and whole life.
Do you have someone you are trying to protect financially (wife/child(ren))?
Most buy insurance to financially protect loved ones in case they die.
well I want to buy a motorcycle and wife will not let me until I get life insurance as well- but yes I have wife that doesn't work and 3 kids
I don't like the fact with term that once it is over I walk away with nothing on the other hand the whole policy is 200 more a month
reefraff
Active Member
Life insurance is a joke, or better put a racket. Get term life and invest what you would pay for whole life. By the time the term ends you will have enough built up in investment that you will no longer need life insurance. You just have to be disciplined enough to set the extra aside each month.
crimzy
Active Member
Originally Posted by kowaleski
http:///forum/post/2989732
well I want to buy a motorcycle and wife will not let me until I get life insurance as well- but yes I have wife that doesn't work and 3 kids
I don't like the fact with term that once it is over I walk away with nothing on the other hand the whole policy is 200 more a month
I got life insurance as soon as my first daughter was born. As a father, especially if you are the financial provider, you should assure that your family will be ok if something happens to you. I got a term policy to save a few bucks. I figure that by the time it expires, I'll be rich anyway.
http:///forum/post/2989732
well I want to buy a motorcycle and wife will not let me until I get life insurance as well- but yes I have wife that doesn't work and 3 kids
I don't like the fact with term that once it is over I walk away with nothing on the other hand the whole policy is 200 more a month
I got life insurance as soon as my first daughter was born. As a father, especially if you are the financial provider, you should assure that your family will be ok if something happens to you. I got a term policy to save a few bucks. I figure that by the time it expires, I'll be rich anyway.
tangman99
Active Member
If you have a family, you need life insurance. You don't buy it for you, it's for them. If something happens to you, you need enough to cover your funeral expenses and hopefully carry them through that difficult time. The last thing you want to do is leave a wife and your kids broke and down your income.
Buy Term insurance. It's cheap and you can get a lot more. If you are in good health you can pick up around $250,000 worth pretty cheap. Do at least a 20 year term. Whole life is not a good value in the long term. You can do much better investing what you will save on the price of term.
Seriously, if you have a family get some life insurance.
Buy Term insurance. It's cheap and you can get a lot more. If you are in good health you can pick up around $250,000 worth pretty cheap. Do at least a 20 year term. Whole life is not a good value in the long term. You can do much better investing what you will save on the price of term.
Seriously, if you have a family get some life insurance.
reefraff
Active Member
Originally Posted by kowaleski
http:///forum/post/2990021
invest in this economy
Yep, buy low and sell high. Great time to get into the market.
http:///forum/post/2990021
invest in this economy
Yep, buy low and sell high. Great time to get into the market.
jackri
Active Member
If you have a family or ANYONE that depends on you or your income you NEEEEEEEDDDD life insurance... it just doesn't cost anything.
Now... GET TERM NOT WHOLE
Term is cheap.. you can get 250,000 for 20-30 bucks a month if you are semi healthy.
Why not whole? It's a rip off -- yes it's a rip off. Invest the difference you would have spent on whole life and you'll come out WAAAYYYY ahead.
Plus if you die, you don't get the money "invested" in the whole, just the cash policy amount. BIG RIP but people sell it cuz they make huge commissions on it (never trust people that are selling you things).
Now... GET TERM NOT WHOLE
Term is cheap.. you can get 250,000 for 20-30 bucks a month if you are semi healthy.
Why not whole? It's a rip off -- yes it's a rip off. Invest the difference you would have spent on whole life and you'll come out WAAAYYYY ahead.
Plus if you die, you don't get the money "invested" in the whole, just the cash policy amount. BIG RIP but people sell it cuz they make huge commissions on it (never trust people that are selling you things).
darthtang aw
Active Member
Originally Posted by kowaleski
http:///forum/post/2990021
invest in this economy
why not, I didn't start a 401 K till december of last year....(had savings before but we used it to start our business) I have had 20% increase so far this first quarter.
http:///forum/post/2990021
invest in this economy
why not, I didn't start a 401 K till december of last year....(had savings before but we used it to start our business) I have had 20% increase so far this first quarter.
jackri
Active Member
Originally Posted by kowaleski
http:///forum/post/2989732
I don't like the fact with term that once it is over I walk away with nothing on the other hand the whole policy is 200 more a month
It's funny how people insure cars, motorcycles, houses... but will not get health insurance or life insurance on themselves.... umm what's more important?
You don't walk away with nothing -- you are provided coverage in the event something happens to you -- same as you car, motorcycle, house.
The real question -- can you afford NOT to have life insurance? I'd feel sorry for your widow and child trying to get along without you.. then burden them with all the finacial mess you left them with as well. It's irresponsible not to have it if you have any sort of family depending on you.
Someone made the statement after their 20 year term is done they'll be rich.... I say
I'll self insure myself at retirement time
http:///forum/post/2989732
I don't like the fact with term that once it is over I walk away with nothing on the other hand the whole policy is 200 more a month
It's funny how people insure cars, motorcycles, houses... but will not get health insurance or life insurance on themselves.... umm what's more important?
You don't walk away with nothing -- you are provided coverage in the event something happens to you -- same as you car, motorcycle, house.
The real question -- can you afford NOT to have life insurance? I'd feel sorry for your widow and child trying to get along without you.. then burden them with all the finacial mess you left them with as well. It's irresponsible not to have it if you have any sort of family depending on you.
Someone made the statement after their 20 year term is done they'll be rich.... I say
I'll self insure myself at retirement time