Comments on: Don’t Be Fooled By Agents When Buying Life Insurance?

By: Wayne T

Wayne T — Tue, 01 Sep 2009 15:04:42 +0000

When you pay minimum premium, yes! You have described it perfectly, however, you haven’t been taught the whole truth of what it is you are buying when you buy this type of insurance, because there are other options included in this policy which you have not described.
You should talk to a good agent. If you live in California you may contact me, I will explain exactly what it is. http://www.insurancebybarclay.com

By: Mr.Giffo

Mr.Giffo — Tue, 01 Sep 2009 14:15:35 +0000

The cash value is part of the equity in your policy, not something in addition to the death benefit, unless you buy a “participating” policy. When you sell your house, you don’t get the sale price plus the equity; it’s the same with life insurance. What you are recommending is not good for most people. A combination of whole life and term is the best. I don’t sell insurance now but I have been in the business. Ask what the renewal premium would be on a term policy when you are 70.
Rob D is right; he should not get a thumbs down.

By: Financial JUSTICE

Financial JUSTICE — Tue, 01 Sep 2009 13:28:52 +0000

you need a insurance agent that will look out 4 u. and do research yourself. check out suze orman she is great. thanks 4 the info.

By: Joe

Joe — Tue, 01 Sep 2009 13:21:42 +0000

Life insurance with cash value don’t pay out cash value when you die! They say its a good way to build savings! How is that so if you lose it all and it doesn’t go to anyone when you die? People say you can borrow it. Why do I want to borrow my own money that I paid for? Cash value = scams!

By: 529s.com

529s.com — Tue, 01 Sep 2009 13:04:33 +0000

For most people it is best to buy term life insurance. Life insurance plans that builds up a cash value like whole life, universal life, et cetera are rarely the best choice.
You will find many websites out there that promote whole life insurance and disparage term life insurance. They are almost all run be insurance companies. Insurance companies make more money from whole life and it is in their interest to push it.
If you look at financial sites not run by insurance companies, they are almost unanimous in recommending term life insurance. Look at big name sites like Yahoo,CNN, Motley Fool SmartMoney.com and Kiplinger’s, and they all recommend term life insurance for most people.
Whole life has the advantage of having a built in savings program, but you lose a lot of money to high commissions. It is usually better to buy term life insurance and invest the money you save in an IRA, 401K, or mutual fund. There are, however, rare cases where whole life is better and these are discussed in the articles below.

By: Rob D

Rob D — Tue, 01 Sep 2009 12:14:52 +0000

How is this a question?
Sounds like you work for one of those “Buy Term and Invest The Rest” companies. Thats like being a realtor and telling all of your customers that they should only buy single family, 2 story houses and condos, townhouses, and cape cods are all evil.
Grow up.

By: EINSTEIN

EINSTEIN — Tue, 01 Sep 2009 11:28:24 +0000

Do NOT check out Suze Orman. Orman sells books and TV advertising by discrediting the profession she claims to represent. In fact, she was a stock broker, not a financial planner; and life insurance is by far her weakest area of knowledge.
Whole and universal life have tremendous value when applied to the proper situation, and can often be less expensive than term in the long run. Choose an advisor who employs a comprehensive philosophy. The result will likey be the optimum combination of term and permanent coverage to best serve your needs.

By: aoifeb20

aoifeb20 — Tue, 01 Sep 2009 10:31:13 +0000

If your premiums have gone up on universal life insurance then it was not funded properly.This is an intrest sensative product.It sounds like your policy was funed at a way too early age.This product should be funded to age 100 or maturity.

By: osocande

osocande — Tue, 01 Sep 2009 09:58:22 +0000

Life insurance agents.. all they know is how to screw people over by selling cash value policies so that they can earn lots of commissions. If they were securities licensed, they would know that they can make lots of money by selling investments because you can earn quarterly or annual commissions from your assets under management.
If people knew that by keeping investments separate from life insurance, they could be building lots of wealth by the time they retire. That’s why term insurance and investing the difference is the best way to protect the family.

By: Doing the Right Thing

Doing the Right Thing — Tue, 01 Sep 2009 09:36:50 +0000

Huh?
What’s the actual *question*?
Remember, punctuation is your friend…