Buying life insurance at the age of 25

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Tue Nov 05, 2013 11:52 am   Post subject: Buying life insurance at the age of 25  

If I’m unmarried and without any dependent. Is it advisable to purchase life insurance (to be specific, term life) at an age of 25.



Taking this as a potential investment tool and a wise retirement plan, since after 35 years from now it’ll pour forth a massive amount, would it be wise to purchase a life insurance under these conditions?


_________________
Register Now to have your Insurance queries solved.
CB
Guest







PostPosted: Wed Nov 06, 2013 7:17 am   Post subject:   

Since you have no dependents, technically you don’t require any life insurance. You might still go ahead and get one if you are going to have dependents in near future. Again, it’s better to purchase life insurance at an early age as of the lower premiums.



For retirement benefits, visit: http://www.ssa.gov/pgm/retirement.htm



_________________

Owning a home is a keystone of wealth - both financial affluence and emotional security. ~ Suze Orman
MangoQurious
Senior member
Leave a quick message

MangoQurious

Joined: 12 Mar 2013
Posts: 270

Location: Sacramento, CA
61.23 Dollars($)

PostPosted: Wed Nov 06, 2013 12:35 pm   Post subject:   

Quote:
Taking this as a potential investment tool and a wise retirement plan, since after 35 years from now it’ll pour forth a massive amount, would it be wise to purchase a life insurance under these conditions?
Life insurance is NOT an investment, no matter what an insurance agent or company wants you to believe. And term insurance has no cash value.



The massive amount you intend to "pour forth" into a cash value policy could end up being a massive loss and leave you with no cash and no insurance just before you die. What is that worth, and how wise would it be?



Use life insurance to purchase income protection if you fail to save the necessary funds in honest-to-goodness retirement accounts, annuities, and other tools designed for that purpose.


_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.


Last edited by MaxHerr on Mon Nov 11, 2013 5:04 pm
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7888

Location: Pomona CA
107.61 Dollars($)

PostPosted: Mon Nov 11, 2013 1:41 pm   Post subject:   

Oy. Asking about term insurance as an investment? Your cash surrender value will grow to $0.


_________________
Register Now to have your Insurance queries solved.
anonymousrfhjjjj
Guest







Quick Reply
Your Name
Subject
Message body
All times are GMT
Page 1 of 1


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused