Comments on: ¤¤Whole Life Insurance Vs Term Life Insurance¤¤

By: andy

andy — Sat, 23 Jan 2010 14:39:27 +0000

Term Life insurance is the best option I think. The key is to shop around as mentioned in the the article and comments.

By: Case Study: Alline Davenport. Some Financial Homework

Case Study: Alline Davenport. Some Financial Homework — Thu, 14 Jan 2010 03:40:20 +0000

[...] whole life insurance policy has a cash value of only $1,600. Because of health issues, she will need to keep it instead of [...]

By: Basic Questions on Life Insurance Basics: Part 2

Basic Questions on Life Insurance Basics: Part 2 — Fri, 18 Dec 2009 05:23:57 +0000

[...] order to address this question, I am going to compare Whole Life vs Term Life, assuming the insured is a 30 year old male in good health. Dave Ramsey’s organization solicited [...]

By: Evolution Of Wealth

Evolution Of Wealth — Thu, 15 Oct 2009 10:19:11 +0000

A couple of things to add to the post is that participating whole life (the only type you should look at) the death benefit increases over time because a majority of the cash value is paid out with the original face amount. Most people confuse this with Universal Life which usually has a flat face amount because it is basically permanent term insurance. In my experience, I’ve never seen a company factor the credit score into the premium.
The problem with most permanent policies is the agent that sells them. The policies themselves can be great when set up properly. I talk about this in a post titled “Life Insurance Secrets” http://evolutionofwealth.com/2009/08/24/life-insurance-secrets/
It’s unfortunate how much misinformation is out there because of people not properly trained and educated to do their job. Then again I guess the insurance companies are to blame for this because they do most of the training.

By: Green Panda

Green Panda — Tue, 20 Jan 2009 22:38:51 +0000

Thanks for sharing your side of the situation. I’m personally hoping to follow Mr. GoTo’s example and build from the savings of term life insurance.

Like I mentioned before, I guess the issue is how self-disciplined an individual is on the savings from term life premiums.

That’s why it’s important to weigh the pros and cons for your family.