marshal france
Full Member
Cash: $ 14.25
Posts: 60
Joined: 21 Jul 2011
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Life Insurance |
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Is Life Insurance good or bad?pls give me suggestions...Because i heard a statement that Life Insurance is something that make us to live tight when we are alive for the future after our death.
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Tue Aug 02, 2011 10:14 am |
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oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona |
quote: Is Life Insurance good or bad?
Some salespersons market it as an investment, from that standpoint it is bad. Most other investments are far better. The rule is - never mix investing and insurance, you'll combine the worst of both.
If you have dependants, you need life insurance (it is really income replacement insurance) to provide for them until they graduate college. For most families you need the coverage for about 30 yrs - a $500k or $1M plan is about right, that will replace your income and provide for most families if you are gone.
After your kids are grown annd you no longer have dependants to provide for, nor do you have an income that needs to be replaced - you no longer need life ins.
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Tue Aug 02, 2011 3:21 pm |
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littleroc02us
Moderator
Cash: $ 384.35
Posts: 1891
Joined: 09 Feb 2009
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I am currently filling out an application with Banner Life insurance and am choosing to go with 20 year term @ 750k and my yearly premium is around $700. We are expecting a child in October and figure that when the 20 year term is over we will be financially wealthy and won't need it anymore. My wife has to wait until after she delivers to apply for life insurance because they won't insure her right now. We just want to make sure we are covered in case one of us dies while raising children. Tomorrow morning a nurse is coming to my house to draw blood and to take my physical. As for investments we use 401k's and Roth's that have been making a killing the last couple of years.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Tue Aug 02, 2011 3:27 pm |
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oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona |
quote: Is Life Insurance good or bad?
Some salespersons market it as an investment, from that standpoint it is bad. Most other investments are far better. The rule is - never mix investing and insurance, you'll combine the worst of both.
If you have dependants, you need life insurance (it is really income replacement insurance) to provide for them until they graduate college. For most families you need the coverage for about 30 yrs - a $500k or $1M plan is about right, that will replace your income and provide for most families if you are gone.
After your kids are grown annd you no longer have dependants to provide for, nor do you have an income that needs to be replaced - you no longer need life ins.
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Tue Aug 02, 2011 7:32 pm |
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oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona |
<< Why does this site keep 'doubling' - I'm not reposting? >>
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Tue Aug 02, 2011 7:34 pm |
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littleroc02us
Moderator
Cash: $ 384.35
Posts: 1891
Joined: 09 Feb 2009
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quote: Originally posted by oldguy << Why does this site keep 'doubling' - I'm not reposting? >>
You just want more cash to your name.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Tue Aug 02, 2011 8:17 pm |
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kate032
Preferred Member
Cash: $ 22.35
Posts: 111
Joined: 25 Feb 2011
Location: Michigan |
Re: Life Insurance |
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quote: Originally posted by marshal france Is Life Insurance good or bad?
The question by itself is unanswerable. What is good for one family may be bad for another. Oldguy explained very well when people do need life insurance and when they don't.
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Tue Aug 02, 2011 10:51 pm |
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debedwards
Preferred Member
Cash: $ 21.70
Posts: 106
Joined: 19 Aug 2011
Location: Connecticut |
Life insurance is a good investment and highly beneficial for your family. This is actually a necessity especially to those who have kids and family that they really care about. So even if you're no longer with them, they will still be financially stable because of your insurance.
elder care specialist | long term care insurance costs | life line screenings
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Fri Aug 19, 2011 4:42 pm |
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euniceB
New Member
Cash: $ 1.80
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Joined: 15 Aug 2011
Location: Los Angeles, CA |
Life insurance is what we use for our family and very important in terms of stability as we are in recession.
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Tue Aug 23, 2011 5:07 am |
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chrisgayle
Contributing Member
Cash: $ 7.40
Posts: 37
Joined: 11 Jun 2011
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Life insurance is a good investment because it can take care of spouse, children and the heirs or family members after death. If you have a family that depends on you for money, you need life insurance.
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Wed Sep 14, 2011 5:17 am |
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Sanderson
Contributing Member
Cash: $ 5.25
Posts: 26
Joined: 03 Nov 2011
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I Think this is good Because it makes secure of our future as well as It will in Tax submission money.
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Thu Nov 03, 2011 11:19 am |
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Abe
New Member
Cash: $ 0.80
Posts: 4
Joined: 11 Nov 2011
Location: new york |
Life insurance is best for every person.
If any one face any loss on body in this way they recover reasonable income which is helpful in life.
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Fri Nov 11, 2011 3:11 pm |
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jacobethan
New Member
Cash: $ 0.80
Posts: 3
Joined: 17 Jan 2012
Location: CN |
hi |
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Life Insurance?
My husband, 32 and I, 30 are looking into life insurance. Can anyone tell me which company or websites I can use to get information. There are so many out there... wouldnt know where to start. Who do you personally use? Is there a medical exam involved? What type of premiums are you paying? Is it fixed or does it go up every few years? We live in Florida also. Any help would be appriciated.
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Tue Jan 17, 2012 9:19 am |
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ShelleyM
Member
Cash: $ 4.85
Posts: 24
Joined: 21 Sep 2012
Location: NY |
Life insurance is good for the life and after life. It gives you freedom of life without any tension. Before taking any insurance plan calculate your over all that how much you want to invest for your insurance and take a detailed look on the plans of life insurance companies then choose a right plan.
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Fri Sep 21, 2012 6:16 pm |
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