Posted: Sat Sep 22, 2007 4:04 pm Post subject: div term policies
probably have a hard time finding one. Most term policies that paid divs were overpriced, term market is so competitve now that there is probably none left. The new return on premium term policies offer a similar concept. If your insurance premium is 20, the return of premium cost might be 40. You get all your money back if you out live the policy term so basically you are earning money on the additional premium because you are going to pay the cost of insurance regardless. _________________ Register Now to have your Insurance queries solved.
Hello to you and all of my associates in this forum. I have been out of it for a brief moment due to a computer virus, but now I am back.
Have you looked into a universal life??
It can really offer you the best of both worlds. First, you can purchase one with a high face amount, just like a term policy. Then on most universals, you have the option of a variable premium. You can choose to either pay minimum premium, target premium, or a specified amount.
You will probably pay close to the same amount as you would pay for a term with return of premium.
Just be careful if you purchase a universal to monitor the interest rates and cash values on a regular basis. At least annually, just to make sure that you dont underfund the policy and it runs out before its time.
Hope this sheds some light on what you are trying to do
term policy is not a small field with little to explain.
what do you want to know about it.please elaborate your question a little so that the members around you could help you better. _________________ INDIAN_TUSHAR
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Posted: Mon May 26, 2008 9:12 am Post subject: insurance
I have wondered.which would be better a Term or Whole Life policy? Can you get 'cash value' on both? I suppose it depends on the individual's situation.
Posted: Mon May 26, 2008 4:01 pm Post subject: insurance
Depends on the coverage you need, what you can afford, etc. Do ANY Life Insurance policies build 'cash value' right away? Or.....do you have to wait a certain amount of time?
I have wondered.which would be better a Term or Whole Life policy? Can you get 'cash value' on both? I suppose it depends on the individual's situation.
I think whole life policy is much better than term life insurance policy. As far as i know, most term life insurance policy has no cash values. All it can offer is protection. So if you are paying premiums on a term life insurance, you are paying for the financial protection that it can offer. It does not make your money grow over a period of time. But the good part of it is that it is much cheaper compared to other kinds of life insurance policies.
Whole life insurance policy on the other hand can accumulate cash values and can offer dividends. It costs a bit higher compared to term insurance but it has an added feature to it. Your money grows over time. This may not be a profitable investment, because of the fact that this is for financial protection and not for wealth accumulation. So don't expect more on the cash values and the dividends that you will get.
Here is one good thing about whole life policy. Because the main goal of getting a life insurance is for protection for the "IF's" of LIFE. What if you Live long? If you would come to your retirement age and feeling secured that you don't need a life insurance anymore, you can surrender your whole life policy and get the cash values and dividends as an additional fund for your retirement. What if you Expire early or lived short. The beneficiary would get the proceeds from the life insurance.
That is the real purpose of insurance. Remember, insurance investment is not wealth accumulation. It is wealth conservation. Never think of higher return on this kind of investment. Think of the protection that it can give to you and to your loved ones. _________________ A life worth living...
