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Home › Forums › Financial Markets/Economics › Does anyone have advice about whole life insurance?

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  • January 17, 2011 at 1:23 PM #655990
    Coronita
    Participant

    I just have term life insurance.
    Basically, for me whole life and the VAR didn’t make sense to me. The costs were astronomical and my net worth wasn’t enough to take advantage of some of the special tax treatments that VAR was explained to me…

    I have policies from MetLife….And in addition to that, I have supplemental through my employer too.
    I got an individual policy myself from Metlife in case I hope around employers.

    I just bought a term insurance that runs 30 years. Should cover cost of my house + college funds should something happen. 30 years later, it won’t matter since house will be paid off, college paid off, and net worth should be sufficient by them.

    January 17, 2011 at 1:41 PM #654881
    Ren
    Participant

    You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.

    January 17, 2011 at 1:41 PM #654944
    Ren
    Participant

    You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.

    January 17, 2011 at 1:41 PM #655541
    Ren
    Participant

    You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.

    January 17, 2011 at 1:41 PM #655679
    Ren
    Participant

    You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.

    January 17, 2011 at 1:41 PM #656010
    Ren
    Participant

    You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.

    January 17, 2011 at 2:00 PM #654896
    Coronita
    Participant

    [quote=Ren]You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.[/quote]

    Even with an gross income of $300k, it doesn’t really pan out as good shelter if your below the estate tax exemptions anyway, i think.

    January 17, 2011 at 2:00 PM #654959
    Coronita
    Participant

    [quote=Ren]You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.[/quote]

    Even with an gross income of $300k, it doesn’t really pan out as good shelter if your below the estate tax exemptions anyway, i think.

    January 17, 2011 at 2:00 PM #655556
    Coronita
    Participant

    [quote=Ren]You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.[/quote]

    Even with an gross income of $300k, it doesn’t really pan out as good shelter if your below the estate tax exemptions anyway, i think.

    January 17, 2011 at 2:00 PM #655694
    Coronita
    Participant

    [quote=Ren]You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.[/quote]

    Even with an gross income of $300k, it doesn’t really pan out as good shelter if your below the estate tax exemptions anyway, i think.

    January 17, 2011 at 2:00 PM #656025
    Coronita
    Participant

    [quote=Ren]You people are too negative. Whole life is awesome for those who make $300k and can afford to throw money at bad investments.[/quote]

    Even with an gross income of $300k, it doesn’t really pan out as good shelter if your below the estate tax exemptions anyway, i think.

    January 17, 2011 at 2:53 PM #654931
    ltokuda
    Participant

    My brother and sister-in-law are both execs at a big insurance company. I asked them about this a few years ago and they said to buy 20 year term. Build up your savings over time so that you won’t need life insurance 20 years from now.

    Insurance companies will often try to concentrate on certain markets (e.g. 35 years old, good health, 20 year term). So depending on your age, health, and product type, one company may offer better rates than another. For the “35 year old, good health, 20 year term” market, my brother recommended Banner, ING, West Coast Life, and Genworth.

    January 17, 2011 at 2:53 PM #654994
    ltokuda
    Participant

    My brother and sister-in-law are both execs at a big insurance company. I asked them about this a few years ago and they said to buy 20 year term. Build up your savings over time so that you won’t need life insurance 20 years from now.

    Insurance companies will often try to concentrate on certain markets (e.g. 35 years old, good health, 20 year term). So depending on your age, health, and product type, one company may offer better rates than another. For the “35 year old, good health, 20 year term” market, my brother recommended Banner, ING, West Coast Life, and Genworth.

    January 17, 2011 at 2:53 PM #655591
    ltokuda
    Participant

    My brother and sister-in-law are both execs at a big insurance company. I asked them about this a few years ago and they said to buy 20 year term. Build up your savings over time so that you won’t need life insurance 20 years from now.

    Insurance companies will often try to concentrate on certain markets (e.g. 35 years old, good health, 20 year term). So depending on your age, health, and product type, one company may offer better rates than another. For the “35 year old, good health, 20 year term” market, my brother recommended Banner, ING, West Coast Life, and Genworth.

    January 17, 2011 at 2:53 PM #655730
    ltokuda
    Participant

    My brother and sister-in-law are both execs at a big insurance company. I asked them about this a few years ago and they said to buy 20 year term. Build up your savings over time so that you won’t need life insurance 20 years from now.

    Insurance companies will often try to concentrate on certain markets (e.g. 35 years old, good health, 20 year term). So depending on your age, health, and product type, one company may offer better rates than another. For the “35 year old, good health, 20 year term” market, my brother recommended Banner, ING, West Coast Life, and Genworth.

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