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Non-Cattle Specific Topics
Every Thing Else Board
term or whole life insurance
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<blockquote data-quote="lavacarancher" data-source="post: 1189855" data-attributes="member: 9198"><p>GM, do you really need life insurance? Don't mean to ask what might sound like a stupid question but life insurance is really meant for your survivors - to take care of final expenses. If you have provided for them and your finals then your wasting your money buying life insurance. JMHO.</p><p></p><p>I may be wrong but whole life is you buy a fixed amount policy and pay the premium for the rest of your life (whole life) and when you die your estate gets the face value amount of the policy. In my case I bought a $10000 whole life policy when I was 18 YO. My premium is about $300/year. When I die my wife will receive $10000 minus what ever amount that might have been borrowed against it. Term is usually a lot cheaper but as already stated your age and health make a big difference.</p></blockquote><p></p>
[QUOTE="lavacarancher, post: 1189855, member: 9198"] GM, do you really need life insurance? Don't mean to ask what might sound like a stupid question but life insurance is really meant for your survivors - to take care of final expenses. If you have provided for them and your finals then your wasting your money buying life insurance. JMHO. I may be wrong but whole life is you buy a fixed amount policy and pay the premium for the rest of your life (whole life) and when you die your estate gets the face value amount of the policy. In my case I bought a $10000 whole life policy when I was 18 YO. My premium is about $300/year. When I die my wife will receive $10000 minus what ever amount that might have been borrowed against it. Term is usually a lot cheaper but as already stated your age and health make a big difference. [/QUOTE]
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