Most Life Insurance Buyers Still Don't Get It. Permanent life insurance can be so valuable to most insurance buyers.
About 20 or 25 years ago most people started thinking about buying
permanent life insurance.
The common beliefs were that you could get so much more insurance for your dollar so that was the way to go. Was it?
I sincerely believe that term insurance is the best type of policy for many people but serious consideration should be given to permanent plans like universal life, variable universal life, variable life and whole life insurance. There also is nothing wrong with starting out with term insurance and at a later date converting to a permanent insurance plan...
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happen to your family if you died? Would they be provided for? Compare
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The arguments of buying term have a lot of validity. You can get much
more for you dollar. You can use the difference and invest it in
stocks, bonds, money market funds, mutual funds or real estate. There is
a lot of truth to these ideas. But ask yourself how viable is that
Will the money be invested? For those who put forth this argument was the extra money really invested over the last 20 or 25 years? The fact is the extra money, more often than not was not invested. In many a case these funds were wasted on trivialities that were considered important at that time but looking back the errors made became quite evident.
If you are a very disciplined person buying term and investing
the difference can be a good idea for a while but as you get older you
become more aware that you will always need some
type of life insurance.
Permanent life insurance becomes a necessity.
In your later years you may not be able to qualify for it so it should be purchased as soon as possible...whether you are converting a term policy or you are buying it from the outset...
Bear in mind as you go forward with your life that your
family has to be protected
in the event of your premature death. Even though the
estate tax law
has been repealed the amount you pay decreases over the years until the
So if you died with a sizable estate you will likely have to pay some estate taxes. The least expensive way to fund the payment of these taxes is through a tax free, upon death, term or permanent insurance policy.
If you are a business whether a sole proprietorship, a partnership or a corporation you will always have a need for life insurance. In the embryonic years of your business you may use a term policy but you should always plan to convert as you progress.
Each individual buyer of life insurance should, therefore, take the time to look at term life insurance as well as permanent life insurance. If you can only handle term premiums at this time, great. You can start with that but plan to convert some time in the future.
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Home Articles Permanent Life Insurance - Article Advantages Of Whole Life Insurance 10 Pay Life Insurance Accidental Death Benefit Beneficiaries Family Financial Planning In Praise Of Whole Life Insurance
Should life insurance buying be seen as an urgent matter? There is something about some people that at times may cause them to procrastinate about matters that could end up being quite costly...
Let us talk affordable term insurance. You want a policy that can fit into your budget, right?
It can be a very satisfying feeling when you become aware of the advantages of whole life insurance for the first time.
The best term life insurance rate can be quite easily found on the internet today because web insurance companies have done intense research on behalf of the consumer.
I recently did some research on the development of the 30 year term insurance policy over the years. What I learned was quite interesting.