Jun 19, 2022
4:38:05pm
4:38:05pm
Except it doesn’t. Many of us outgrow the need for it, but, it was there if I
felt I still needed it.
Now, before all of the “that is selfish” echo chamber guys come out to shame me for expecting society or family to pick up the burden if I croak…………..
I am over 70 years old
My kids are all raised and raising their own kids
I am quite financially independent
I recognize that not every retired person is financially independent, but if they keep their life insurance in play, they will be fine and need less of it as they get older and older.
My mother had just enough to pay for her funeral when she died at age 87. And, that was more than she needed. I would have paid for her funeral if she had no insurance.
Everyone reading this should think critically here. The best way to have a payout when dying old is to have saved all of that extra money each year that you would have piled into whole life insurance and invested it over the decades in real estate, Dow Indystrial Average stocks, and IRA, or a 401K provided by your employer. Best is a combination of the above. Much higher payout this way.
Now, before all of the “that is selfish” echo chamber guys come out to shame me for expecting society or family to pick up the burden if I croak…………..
I am over 70 years old
My kids are all raised and raising their own kids
I am quite financially independent
I recognize that not every retired person is financially independent, but if they keep their life insurance in play, they will be fine and need less of it as they get older and older.
My mother had just enough to pay for her funeral when she died at age 87. And, that was more than she needed. I would have paid for her funeral if she had no insurance.
Everyone reading this should think critically here. The best way to have a payout when dying old is to have saved all of that extra money each year that you would have piled into whole life insurance and invested it over the decades in real estate, Dow Indystrial Average stocks, and IRA, or a 401K provided by your employer. Best is a combination of the above. Much higher payout this way.
- Bio page
- Cougarbib
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- Jul 28, 2003
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- Sep 20, 2024
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6/17/22 5:01pm
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6/17/22 5:01pm
I always hear this but never hear those situations, could you or someone else explain a hypothetical where it works?
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Ask him: "With respect to your advice on this whole life policy, are you a fiduciary?" and post his response here.
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The exact commission paid to the agent on the contract should be a disclosed line item on the contract.
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I'm still interested to learn your response to the several questions on this thread about whether an agent acts as a
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