should we cancel our whole life insurance policy?
Posted July 25th, 2008we bought a whole life policy for a couple of years ago b/c we liked the “safety” of not losing our money(the way u do w/ term)–anyway we have since learned that u don’t make any money this way and it’s better to take those premiums and put them in better returning investments. we [...]
Which of two Life Insurance Policys should I keep; which to discard?
Posted July 24th, 2008I currently hold two life insurance policies on myself. They are both for the same amount, here are the differences:
Policy #1 costs $68 per month.
It is WHOLE Life, 20 yrs, with Cash Value built in.
Policy #2 costs $53 per month.
It is TERM life, 30 yrs, with no cash value.
I have been paying on both policys [...]
Can someone show me a critical review of overfunding a life insurance policy?
Posted July 24th, 2008Otherwise termed “Infinite banking” by one guru. I believe it to be a ripoff insurance saving vehicle and what I’ve read thus far as supported that belief. I would like a critical review by a reputable paper or site that my mother-in-law will believe. It’s hard to find more than consumer comments/reviews and a bunch [...]
Life insurance needs- 32 married with 2 kids?
Posted July 22nd, 2008Shopping for life insurance is confusing. I’m 32, my wife is 30 and have 2 kids, ones 2 and the other is 4. All I am looking to do is protect our family if something happens to one of us. Keeping the monthly premium down is paramount.
I’m thinking that both of us should just get [...]
How difficult is it to cancel a Universal Life Insurance policy?
Posted July 17th, 2008My husband and I bought Variable Universal Life Insurance through a major insurance company 9 years ago. The actual insurance value on each of us (separate) is $200,000 each. We pay each $100 per month toward the insurance plus the variable part. Each account is worth about $11,000 after the surrender charges (which [...]
Please help with this life insurance question:?
Posted July 11th, 2008When Louis Rich took out a loan from the bank for $1,000,000 the bank required Louis to take out $1,000,000 life insurance policy. Louis will be required to collaterally assign the policy to the bank. All of the following statements are true regarding collateral assignments except:
Choose one answer.
A. The collateral assignment will automatically terminate [...]
How much life insurance do I need? How long?
Posted July 9th, 2008Hi,
I am 31, married, in decent health (don’t smoke). No kids, but planning for one next year. How much life insurance do I need? Thinking about a term policy for $500,000, but not sure if I need it for 10, 20 or 30 years? Any advice much appreciated.
Annual income is the $100,000 range.
Thanks.Mary
can someone explain some of the terms used on a life insurance policy?
Posted July 6th, 2008ie.cash value,surrender charge,policy cash value and policy cash surrender value.what do these terms mean???????Nathaniel