Archive for the Term Life Category
August 2, 2010 | Featured, Term Life | Wayne Rodriguez | No Comments
We received this question from one of our readers. I am 33 years old and make approximately $150,000 per year. I need to plan for my retirement, and I’m starting from scratch. Someone who is close to me would like to sell me a life insurance policy that features a cash value as a way for me to save. Is this my best option?
Well my first question is what to you mean by someone close to you? Are you talking about a co-worker, acquaintance, friend or relative? Whoever this person is, my first suggestion is that you distance yourself, at least in terms of your finances, with this person.
The reason for this is because when you are trying to save and invest for your retirement, your starting point shouldn’t be life insurance. In terms of your options, life insurance should be way down on your priority list, if at all.
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December 14, 2009 | Featured, Term Life, Whole Life | Pamela Spencer | No Comments
Whole life insurance, just like term life insurance, pays out following the insured’s death. However, these two kinds of insurance are quite different in several ways. Term life is usually a lot less expensive because the protection is temporary. On the other hand, whole life has higher premiums but also provides protection over your entire life. Because whole life is more expensive, shouldn’t you just buy term policies in a series rather than purchasing whole life insurance?
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December 2, 2009 | Featured, Term Life | Pamela Spencer | No Comments
There are people who still think that life insurance is more of a luxury than the necessity it often is. People who want cheap coverage often opt for inexpensive term life insurance because it is probably the simplest way you can protect the financial security of your family in case of your untimely death.
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November 29, 2009 | Featured, Term Life | Pamela Spencer | No Comments
The most critical aspect of term life insurance is of course the amount of the payout that the policy will pay should the insured individual die within the term. That is why people purchase life insurance in the first place.
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November 20, 2009 | Featured, Term Life | Pamela Spencer | No Comments
Term life insurance that is renewable annually is life insurance with a one year term. This type of life insurance is the simplest kind. It lasts for just one year. If the insured individual dies within that one year time period a death benefit will be paid out to the beneficiary.
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October 5, 2009 | Featured, Term Life | Pamela Spencer | No Comments
If you are married or have children, then you should seriously consider term life insurance. You definitely want to make sure that your family is taken care of and protected in the event that you should die prematurely, particularly if you are the household’s breadwinner.
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September 21, 2009 | Featured, Term Life, Whole Life | Pamela Spencer | No Comments
Term life insurance basically means what is implied by its name: it is insurance whose coverage is valid for only a certain amount of time that is outlined in the insurance policy. Whole life insurance also basically means what the name implies: it is insurance whose coverage is for the entire duration of an individual’s life and pays out upon the death of the covered individual. When it comes to term life insurance, only about two percent of these policies pay out a death benefit, which makes them more lucrative for insurance companies and less expensive for individuals who are looking for this kind of insurance.
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September 19, 2009 | Featured, Term Life, Whole Life | Pamela Spencer | No Comments
If you happen to be single right now you may not think that life insurance applies to your life at the moment. However, if something should ever happen to you there will be someone who will be burdened, either financially or in some other way, with being responsible for your funeral. Additionally, life insurance is one of those things that follows you throughout your life, so the earlier you are able to get it the better off you will be later. Let’s examine the reasons why life insurance really can be a good idea for you, and also how you can choose between term life and whole life insurance.
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August 8, 2009 | Featured, Term Life | Pamela Spencer | No Comments
The entire idea that is behind any form of life insurance is to provide financial means for your family in the event that they should lose you as well as your income. In many cases, term life insurance could be a better option than whole life insurance. A majority of whole life insurance policies have some form of savings that is attached to the policy that slowly over the years builds up cash value.
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June 28, 2009 | Featured, Term Life | Pamela Spencer | No Comments
There are many reasons why some people choose term life insurance instead of permanent or whole life insurance. Term life insurance is also called term assurance and is the first type of life insurance that was ever developed. Term life insurance does not build any cash value, so it isn’t relevant as an investment for financial planning or retirement planning purposes. What term life insurance does provide is coverage during a certain stated time period.
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