Are you looking to buy a life insurance policy? Well, be careful. life insurance can be difficult to understand and it's easy to be conned into buying something under false pretenses.
Recently a prominent life insurance company together with several of its agents paid a huge fine because it permitted the sale of a life insurance policy disguised as a retirement plan. There was little attention given to what a life insurance policy is truly designed to provide.
life insurance is not an investment for your benefit. It's guaranteed income tax-free cash paid to someone you designate in the event of your death. If you love someone and want to protect them, then buying a life insurance policy makes sense.
As primary bread winner in your family, your lost income could jeopardize the ability of those you love to continue to enjoy their standard of living.
The only way to guarantee an immediate replacement of this money is with the intelligent purchase of a life insurance policy.
Notice I didn't say term life insurance, low cost life insurance, or whole life insurance.
To your loved ones ... this doesn't really matter.
Over the years I've delivered millions of dollars of life insurance benefit to the families of deceased bread winners. And you know what?
No one ever asked me what type of life insurance policy it was. They were just extremely grateful to get the money.
Term is the cheapest, but it's unlikely the death benefit will be paid since the life insurance policy will probably lapse before you actually die. Right now the premium may seem cheap compared with other types. But what happens when you're older?
Term life insurance premiums can be level for a specific number of years, but when that number of years is up the price will skyrocket to the point you won't be able or willing to pay.
Whole life insurance provides a lifetime level premium until the policy is paid-up. This can be 10 years, 20 years ... or when you reach age 65, 85 or 100. One big advantage is you don't have to worry about your policy expiring before you do.
One type of life insurance policy is not necessarily better than another. But it's c
收藏至：
