My Account
Report problem with this ad
Start a related thread
Start a related poll
Reply via Boardmail
Apr 21, 2017
7:57
:43
am
KingDave
All-American
I just got a 30 year term policy for that reason
I'm now spending $160/month on term insurance, which feels like a ton, but in 30 years I'll still only be spending $160/month.
Start a related thread
Start a related poll
Reply via Boardmail
Report problem with this ad
KingDave
Previous username
(Private)
Bio page
KingDave
Joined
Oct 12, 2009
Last login
Sep 28, 2024
Total posts
70,830 (21,299 FO)
Report problem with this ad
Messages
Author
Time
Whole Life Insurance. What is your take on whole life? I have term right right, but need to re-up my term life
RugbyCoug
All-American
4/21/17 7:38am
I have never seen numbers to suggest it is worth it.
Baron
4/21/17 7:38am
Also get a way from northwestern for life insurance.
Baron
4/21/17 7:43am
The term seems fine. The numbers he shared seemed ok. It would be purely a diversification strategy.
RugbyCoug
4/21/17 8:00am
It is not fine if it is ending and how do know if the price is good?
Baron
4/21/17 8:02am
It's not really ending yet. I bought 20 year term. I have 7-10 more years. I'm young enough that renewing for another 20
RugbyCoug
4/21/17 8:09am
It's good if you don't have the discipline to invest the difference
paulb
4/21/17 7:39am
What if you have other investments and this is just an asset diversification strategy?
RugbyCoug
4/21/17 8:10am
I have never been able to wrap my mind around this argument.
Superman21
4/21/17 10:33am
You have to believe that you could take the difference in premium and do better than 6-7% per year with a similar
RugbyCoug
4/21/17 10:57am
If you dig into it, it makes little sense IMO.
Y'zFan
4/21/17 7:40am
I have it and borrow against it to fund short term real estate deals. It works
Iman23
4/21/17 7:40am
It's a good asset protection tool, not a good investment if you have discipline
VegasCoug
4/21/17 7:41am
Ohh, be sure you max out all your tax advantaged investment options first.
VegasCoug
4/21/17 7:43am
Yes, I'm doing that. The rep is telling me that the whole life benefit on back end is tax free. Of course, premiums
RugbyCoug
4/21/17 8:11am
No point in it
HoustonCougar
4/21/17 7:46am
It can be valuable in estate planning. Especially if your assets are in excess
RdF3
4/21/17 7:46am
Very true, but there are very few people that applies to.
KingDave
4/21/17 7:50am
I used to be a Northwestern Mutual rep
KingDave
4/21/17 7:46am
Re: your last paragraph...can you give me an example of when it might not be
Iman23
4/21/17 7:50am
I don't know
KingDave
4/21/17 7:55am
Will do. I doubt I will make enough in retirement to get hit with the tax
Iman23
4/21/17 8:02am
If you take out money which is in excess of the premiums you've paid to that point
Indy Coug
4/21/17 8:50am
It makes sure your family has money to bury you when you die
BYU Fan
4/21/17 7:50am
The problem with term is your premiums start going through the roof
Big Daddy D
4/21/17 7:52am
I just got a 30 year term policy for that reason
KingDave
4/21/17 7:57am
Yup, slight correction: in thirty years you will not be spending 160
Big Daddy D
4/21/17 2:42pm
Get a cheaper term policy and invest the difference in premium.
Mister P
4/21/17 7:53am
Good for the guy that sells it
gwill
4/21/17 8:14am
I'd look at universal life before whole life
Indy Coug
4/21/17 8:49am
I wish I would have bought a whole life policy in my 20's
Jersey hunter
4/21/17 8:55am
Report problem with this ad
Posting on CougarBoard
In order to post, you will need to either
sign up
or
log in
.
Report problem with this ad