Do you love someone deeply enough to spend your hard earned dollars on a life insurance premium -- month after month?
After all, the benefit from a life insurance policy isn't for you. It's for the ones you love, but after you've gone.
life insurance is money paid to those who rely on you today to give them a secure standard of living, which they can lose in a heartbeat.
This is money when they need it the most ... with no income tax or publicity.
Buying a life insurance policy can be challenging because it isn't an easy subject matter to begin with.
Most people get somewhat confused about how it works and whom they can trust enough to make the purchase.
And there's an overwhelming number of companies and agents all clamoring for your attention.
The purpose of this article is to help clarify a huge misconception about term life insurance. While doing this, I'll introduce you to what many knowledgable professionals consider to be the best kept secret in a life insurance policy.
Buy term and invest the difference is a phrase touted by those ... including some life insurance agents ... who have absolutely no idea how much harm it's implementation can cause.
The principle theory behind this idea is you no longer need a life insurance policy when you reach a certain age such as 55, 60 or 65.
Supposedly your kids have finished school and are doing just fine earning their own income. And you and your spouse are living comfortably on retirement savings and social security.
On the surface and to the naive, this might appear reasonable.
It's relatively easy to blow holes in this hypothesis, but let's focus instead on the real problem with this scenario.
We are living longer ... much longer ... than ever before. We may not be enjoying it very much due to poor health but, nevertheless, we're hanging on.
life insurance companies know this better than anyone. In fact, most of them now use age 115 has a factor when calculating life insurance policy premiums.
You hear about retirees who are forced to find work at McDonald's or Walmart. Have you ever joined a seniors chat room on the Internet and witnessed the concerns most of them have about running out of money before they die?
Many of these seniors are frightened to death. And this is before we even consider the babyboomers right behind them.
An intelligently purchased life insurance policy can be the saving grace for those you love the most.
Now, let me set the record straight. I have nothing against term life insurance. Over the past 24 years I've personally
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