bcsonline
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 05 Jan 2012
Location: SF Oakland Area
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| Whole Life Insurance |
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Hello
This is my first post. My 92 year old father has a paid off whole life policy. There is a cash value and a death benefit. This policy generates dividends and he uses them and some cash to fund additional paid up insurance. I'm not sure he gaining by making these payments.
I might be missing something but it sure looks as if the policy value only increases by the exact amount of his payment.
I wonder if I should suggest that he show this policy to a financial advisor?
Thanks
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Thu Jan 05, 2012 6:41 pm |
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coaster
Senior Advisor
Cash: $ 1528.55
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Joined: 11 Oct 2005
Location: Wisconsin
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A financial advisor cannot advise on finances unless he/she has the whole picture. Yes, of course, a whole-life insurance policy is part of that picture. And that policy should be a part of the discussion about, analysis of, and recommendations for, the whole picture.
If he doesn't already have an ongoing relationship with a financial advisor, though, my own advice is to not push the matter. At this point in his life, the cash value of that policy isn't going to have a tremendous effect positive or negative on his remaining life, or on his estate he leaves to his survivors.
~Tim~
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Fri Jan 06, 2012 7:34 am |
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oninski21
First Time Poster
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Joined: 09 Feb 2012
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coaster is correct, if your 92 old father already had a working relationship with the advisor it is ok. but if you have any question in regards to his insurance, better call a company and have it checked.
url removed
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Thu Feb 09, 2012 7:01 am |
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debedwards
Preferred Member
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Location: Connecticut
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It's not advisable to go to a financial advisor since he or she will only provide little help. If you really want a professional take on this then you should go straight to your dad's insurance company. It's just like he is break-even with his policy. His loss or gain is not that significant and wouldn't affect him that much.
elder care specialist | long term care insurance costs | life line screenings
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Fri Feb 17, 2012 3:21 pm |
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coaster
Senior Advisor
Cash: $ 1528.55
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Joined: 11 Oct 2005
Location: Wisconsin
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quote:
Originally posted by debedwards
It's not advisable to go to a financial advisor since he or she will only provide little help. If you really want a professional take on this then you should go straight to your dad's insurance company.
You must be kidding. You're not going to get straight advice from someone who has a vested interest in continuing their profit source.
~Tim~
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Fri Feb 17, 2012 5:32 pm |
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franks.benjamin
Member
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Joined: 11 Apr 2012
Location: uk
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When we are in childhood, our financiers are our parents but when we grow up we can try to finance herself by her by doing those task through which a proper revenue will be come to our pocket.
Sjökort l C-map
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Thu Apr 12, 2012 4:56 pm |
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jack1421
Member
Cash: $ 3.80
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Joined: 14 Mar 2012
Location: India
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Hello Friends,
I am happy that we all are aware of our loved one safety and thinking for them if something happens to us.what is whole life insurance? Most of the time i heard this question and was searching for that, then after a long search i got the answer and after that i came to know what it is and how life insurance is usefull to us in many way.
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Tue Apr 24, 2012 9:37 am |
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annamarga23
First Time Poster
Cash: $ 0.20
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Joined: 17 May 2012
Location: Philippines
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What is whole life insurance? To simply put it, this is the simplest life insurance that you can find, though it is not necessarily the cheapest. That one is reserved for term life insurance. What is whole life insurance was also known as traditional whole life insurance and it is unique from other forms of permanent life benefits since this one uses the concept of guarantees.
Read More:
http://www.quotes-center.com/what-is-whole-life-insurance/
We better get Whole Life Insurance for us to be protected and for securing our future!
Whole Life Insurance
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Thu May 17, 2012 11:08 am |
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nvrgtgnjdgd
New Member
Cash: $ 0.80
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Joined: 02 Jun 2012
Location: Los Angeles
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I wonder if I should suggest that he show this policy to a financial advisor?
Thanks
No fake signatures - thanks
joc girld
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Tue Jun 05, 2012 3:13 am |
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indieagent
Member
Cash: $ 2.40
Posts: 10
Joined: 22 May 2012
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Whole life policies may not come cheap but the investment aspect of the policy builds cash value which can be a big help if you don't have much money saved. It would be advisable to consult a financial planner to see if whole life is is best for your situation.
http://getlifeinsurance.co.za
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Fri Jun 15, 2012 9:35 am |
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