| Life Insurance-necessary evil? |
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levibo
New Member
Cash: $ 1.00
Posts: 4
Joined: 19 Jul 2005
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| Life Insurance-necessary evil? |
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I'm about to buy life insurance in the value of one million...Stuffs not cheap, but should I shop around or just trust the New York Life agent who has spent several hours with me? I'm 46 and think I should leave my youngish family something if I die.
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Fri Feb 17, 2006 5:51 am |
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JCook
Full Member
Cash: $ 11.20
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Joined: 24 Jan 2006
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If you do not have enough in investments and/or savings to provide for those you leave behind you do need insurance. As you get older, your investments grow, your debts are payed off and the children leave the house you should no longer need insurance.
Make sure you get enough term life insurance to provide for your family. Just do the calculations to see how much you need for them to invest it and live off of the earnings.
Do not buy whole life insurance, it is a bad investment. Term insurance is very cheap and you can invest the rest yourself.
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Tue Feb 21, 2006 2:55 am |
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