Questions tagged [life-insurance]
to be used for questions related to life insurance.
29
questions
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For very high-net worth individuals, does it make sense to not have insurance?
Various types of insurance (health, car, life) protect you from relatively low probability but very expensive events in life (cancer, serious car accident, etc.) For the average person, it makes sense ...
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4
answers
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When is Cash Value Life Insurance a good or bad idea?
What makes CVLI either good or bad? If you get it while young (~23 years old) and have a respectable starting salary then what are some benefits or detriments to having it?
The specific policy I'm ...
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19
votes
5
answers
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Why should I invest my money in a life insurance policy?
As i am 24 now i get lot of calls from lot of insurance companies asking to take up an insurance policy.... So i decided to get answers for some of my questions in basicallymoney...
Why should i ...
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33
votes
4
answers
1k
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How much life insurance do I need?
What is the best way to determine how much life insurance I need?
travis
27
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5
answers
3k
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How can life insurance possibly work as investment?
Every here and there I hear about the following investment option: There's an insurance company that is willing to take my money and hold it for some very long time (like 5 years or more) and then ...
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4
answers
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Should I purchase a whole life insurance policy? (I am close to retirement)
I am 65 and my wife is 59, we are planning to work until I am 70-72, and I plan to withdraw social security at 70. We have retirement savings of roughly $2,000,000 of which $1,600,000 is in mutual ...
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14
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5
answers
1k
views
What kind of life insurance is cheaper? I'm not sure about term vs. whole vs. universal, etc
What kind of life insurance policies are the cheapest? what are the features of different kinds of policies out there? What should I be looking for?
bms2
9
votes
4
answers
893
views
Do laddered term life-insurance strategies give significant savings over getting re-rated with shorter term policies?
I have been reevaluating my life-insurance strategy and having remembered an article about using laddered term life insurance to give you a higher amount of coverage in the short term with reducing ...
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6
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5
answers
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Whole life insurance as an investment vehicle
From everything I have read I still cannot be convinced of Whole Life Insurance but it seems to be the first thing any financial advisor is trained to sell.
From what I read there are minimum ...
- 574
3
votes
4
answers
843
views
Buying Whole Life Insurance with adjustable term protection at 27?
I am a 27 year old male with no dependents, not married, $60,000/year income, and a poor family health history(Dad died of heart attack, mom of cancer, 3 living brothers with heart attack, diabetes, ...
- 33
2
votes
1
answer
459
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If I’m beneficiary on a life insurance policy can gamy make me share it
My mother in law named me as her beneficiary on her life Insurance policy. She lived with me for many years before passing. We are in the state of North Carolina . One of her sons has decided that he ...
- 21
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votes
3
answers
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Is the "Bank on Yourself" a legitimate investment strategy, or a scam?
There seem to be a lot of advertisements by "Bank on Yourself", promising to show how you can invest in a certain type of life insurance policy. Is this really a legitimate investment strategy, or ...
- 1,636
25
votes
8
answers
8k
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Why do people take out life insurance on their children? Should I take out a policy on my child?
I've always found those flyers that the schools send home in September contemptible. But maybe I'm the one in the dark...?
If the purpose of life insurance is to replace a wage-earner's income in ...
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21
votes
2
answers
1k
views
Is permanent life insurance necessary in retirement?
I have a salesman trying to convince me that permanent is a great option. What I can't wrap my head around is why I would want permanent life insurance in my old age if I have a retirement nest egg. ...
- 371
19
votes
4
answers
5k
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Do I need term life insurance at age 57?
I am looking at a term policies for my wife age 56 $250k worth of coverage with an initial cost $957/yr and myself $400k worth of coverage with an initial cost of $1450 /yr. We have about $100k left ...
- 191
17
votes
5
answers
1k
views
When do I need life insurance?
checked threads before asking: 1 2 3
I have been so focused on running away of debt, that I haven't thought on future events. I am trying to decide when do I know that I need life insurance?
My ...
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11
votes
5
answers
2k
views
What's the difference between Term and Whole Life insurance?
How would one decide which is most appropriate? Are there tax or benefits differences that one offers over the other?
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4
answers
3k
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Will says "divide estate equally". Life insurance has one named beneficiary. Can proceeds be made estate property?
If a parent dies and leaves a will that divides the estate equally, but also leaves a life insurance plan that names only one child as a beneficiary, can the other siblings force the life insurance ...
- 101
10
votes
3
answers
2k
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I'm 29, single, and healthy. Do I need life insurance?
I'm 29, single, and healthy, with the hopes of someday--ideally within the next few years--getting married. Do I need life insurance? For what it's worth my employer pays a small policy that would ...
- 101
9
votes
2
answers
668
views
Comparing Life Insurance Proposals
I want to compare different types of Life Insurance in which a series of annual premiums are paid for a specific term. At the end of policy term, which may be longer than premium paying term, a ...
- 652
8
votes
2
answers
4k
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How can you find out what life insurance a deceased person had?
So it seems like the way life insurance is supposed to work for a deceased person is that the beneficiary is supposed to somehow inform the insurance company of the insureds death (presumably by ...
- 3,832
7
votes
4
answers
610
views
Does a stay at home mom need term life insurance?
I know the idea is to get life insurance on anyone who has a dependent so what about a family of three with a stay at home mom?
I would assume the dependent would only be the child as I can continue ...
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6
votes
8
answers
1k
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Is there a benefit, long term, to life insurance for a youngish, debt, and dependent free person?
Something that has been nagging at me lately.
Let's take a person:
30 years old, US, non smoker, no significant medical problems
No debt (of any kind, mortgage, student, or credit card)
No plans to ...
- 1,573
5
votes
2
answers
844
views
Are there benefits to purchasing term life insurance with an option to convert to whole life, and what type of consumers should purchase it?
Most of what I read says, "whole life insurance is not for you", but they don't elaborate much more than that. There's even less about term life insurance that has an option to convert to whole life ...
- 203
5
votes
3
answers
810
views
Is Cash Value Life Insurance ("whole life" insurance) a good idea for my future?
I sat down with an insurance representitive today and listened to their proposal regarding Cash Value Life Insurance (CVLI) and long term investing. I am a 36 year old guy recently married with no ...
- 51
4
votes
3
answers
2k
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Whole Life Insurance As Inflation-Protected Liquid Cash Savings (Emergency Fund)
A financial advisor (Northwest Mutual) told me I should buy a whole life insurance policy as an inflation-protected liquid cash savings. What he said is that while the yield is low, in the long term (...
- 69
3
votes
2
answers
367
views
Understanding annuities with respect to Term Life insurance
I am financially well to do. I have Term Life insurance (along with high 6 digits in savings) that will protect my kids. I am considering protecting myself and guarding against outliving my assets ...
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1
answer
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Evaluating an endowment policy for its fairness against other tax saving options in India such as PPF, EPF and even FDs
I am talking about specific endowment policy: Jeevan Anand. Firstly, there was old Jevaan Anand (Plan 149). And now there is new Jeevan Anand (plan 815). I had old Jeevan Anand policy. It is endowment ...
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What's the "Fixed Interest Strategy Amount Withheld" in a life insurance?
For example, I'm looking at the Nationwide Indexed Universal Life Accumulator II 2020 life insurance with a Long-term Care Rider. Each month, the client pays some premium, say 50 USD. From the amount, ...
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