All Life Insurance Tips

What is the benefit of whole life insurance? My husband and I have been advised to buy a significant amount of whole life insurance as a safe way to invest. We have just started our family and I am a little wary. I am not really sure I understand why it would be better to do this than to invest in bonds, annuities, etc. Any ideas? answers?

What are some safe ways to invest other than whole life insurance? I understand now that term life insurance is the way to go, and then open up a Roth IRA. We are going to meet with our financial adviser and I would like to do more research, hence I'm asking you: What are some other safe ways to invest our money-- other than whole life. Is there something else that is safe that falls between whole life (ultra safe) and buying a bunch of risky stock (ultra risky)?

Is there any way around the cancellation fee for whole life insurance? I have around $4,000 dollars in my whole life insurance policy. A year or so ago, I decided that this type of "investment" is not for me so I stopped funding it. When trying to "cash out" of this policy I discovered that there is a $5,000 surrender fee, which would leave me with nothing. Does anyone know of a way around this, or at least a way to contest it?

Is it recommended to buy whole life insurance for a child? A friend of mine recommended buying whole life insurance for my child. He said it was better than investing elsewhere. For example, you can get a 1 million dollar insurance which will be paid up by the time he is 18 at an annual rate of about 4500$. And this money grows to over 5 million when is 65 and is tax free. Withdrawal can be done at any time. What's the catch? Thanks everyone for the response. I see that the recommendations lean towards not buying it. Strangely enough, I was told that it is very common among families that have lived in this country for over a couple of generations and it's the immigrants who don't understand the benefits of this insurance.

Will I lose my cash accumulation value if I cancel my whole life insurance? I am realizing now (6 years after opening) that my whole life insurance policy is a bad investment. I notice on the policy there is a cash accumulation value and a cash surrender value. They are grossly different. If I cancel the policy do I only get the cash surrender value? If so, is there any way to get more? Do I just admit making a financial blunder and walk away from the policy?

Can you transfer a whole life insurance policy to another company? I am unhappy with both the performance and service on a whole life insurance policy that I've had for about 11 years. Do I have any options? I'd never get the same rates now. I was told when sold the policy that dividends could pay the premium after 20 years...doesn't look like that is the case. Also, the cash value is LESS than the actual money i have put into it. Is this normal or do I have a crappy policy?

So why buy whole life insurance at all? I've dedicated much of the past month researching life insurance. A metlife rep swears whole life is the best thing since "sliced bread" and has dedicated much of her time selling it to me. All of my research indicates to "Buy term and invest the difference" which is what I plan on doing. But I'm still curious, if the wiser choice is to buy term, then: Who actually buys whole life? Why?

Do I need Whole Life insurance after I retire? I am 30 yrs old. My whole life policy is less that five years old and I feel it is breaking my bank to pay monthly. It is 50k and I also have term for 500k. Why cant I drop that expensive WL policy and invest that monthly cost into a Roth. I could pay funeral expenses out of that if my term insurance ran out by then. Does this sound like I am on the right track?

Is Gerber Whole Life Insurance A Worthwhile Investment? My son is 6 months old, and since he's been born, we keep getting sales materials from Gerber regarding their Whole Life insurance plan. It sounds great, but I am clueless about this kind of stuff and don't know if it is truly a good and worthwhile option for our son. My husband and I would like to do something for his future, but we don't have a lot of money. Is the Gerber WHole Life Insurance a good plan, or is there anything else that is better and affordable for us?

Taxes on lIquidating whole life insurance? hi, im just wondering what kind of taxes i should expect when and if i liquidate my whole life insurance. thanks! also, im single,18 and in college with a part time job.

whole life insurance policy cash in value on taxes? My wife quit her job. She was contributing around $10 a month to a 25,000 whole life insurance. We got a letter that said the cash value was around $700. If we cash it in is there a tax cost to us? The letter stated that the cash value will be used to pay the insurance cost till it is depleted then the policy would be closed. If we cash it in do we have to pay capital gains or other cost on it. Or the monthly amount she has been contributing offset it??

Is it better to have term life insurance or whole life insurance? I am 26 years old and just had a baby and want to know which insurance is better whole or term. How do I determine how much to get? Who besides my daughter if anyone should be the beneficiary? Note: Her father and I aren't married but I was considering leaving him a percentage so that he could have extra $ to provide for or daughter if neccessary - Is this a good idea?

my husband and i are over 55 and needing advice about "whole life insurance" who would be the person to ask? Our Insurance co. we feel is giving us the run around and it's hard to trust just anyone anymore. We think we need to move the whole life insurance to something more profitable. We have been paying into it for over 20 years.

Should I open a whole life insurance policy or a 401k first? I met with a financial consultant who told me that the 401k is the last thing I should start. She says it makes more sense to open the whole life which compounds 8% return on my money yearly and pays a yearly dividend. Which is smarter to do first?

Which is better to buy whole life insurance from : demutualised Insurance company or mutual? New York Life is not demutualised, but Metlife is. some say it better to buy wholelife insurance from non-demutualised insurance company. Is that true? thanks

Is it common to have both term and whole life insurance? Sort of a hedge? I bought them from an agent 15 years ago, somehow it seemed to balance the pros and cons of each. Now I've applied for another term, and wonder about dropping the whole life. Sonya, I didn't understand that link. Was that one page supposed to be "the basics, step-by-step". It doesn't really explain much. Sonya, I didn't understand that link. Was that one page supposed to be "the basics, step-by-step". It doesn't really explain much. Sonya, I didn't understand that link. Was that one page supposed to be "the basics, step-by-step". It doesn't really explain much.

Life Insurance: Variable Life vs Whole Life, which one is really better? Is Whole Life premium more money than Variable Universal Life? I asked for a Whole Life insurance quote from one of the big insurance companies around, instead the agent tries to convince me that I should go with Variable Universal Life. He said Whole Life premium is always higher than Variable Life. He generated a printout for Variable Universal Life but not for Whole Life. I just want my premium to remain fixed in my old age and dont want the death benefit to fluctuate hence I prefer Whole Life. He stated that the death benefit is guaranteed for VUL. Is it really? I have a feeling it's not and that the premium for VUL will increase in my old age since it's dependent on my market investment. I'm beginning to think that his commission for selling Variable Life is more than selling Whole Life. I'm 37 female, non-smoker, in good health. I dont believe Whole Life premium would be that much higher than VUL. Any input is appreciated.

Is a whole term life insurance with a retirement plan a good idea? I had a meeting with and finace agent about geting my retiriment ready and he tried to sell me whole insurance with retirirment I have term insurance right now

Does anyone know if whole life insurance is better than term life? Say your in your late 30's and completely healthy, have a term life insurance for 250k for 20 years and you dont die in 20 yrs, your now close to 60 and have to start over dont you? Any advice would be helpful! Thanks!

Should we have whole life insurance? My husband is 26 yrs old and he bought whole life insurance. I tried to tell him to get term sicne we are so young, but he wouldn't listen. Can anyone help me? i need specifics on how to explain why we just need term,but we do have kids, so maybe we should keep it?

Term or Whole life insurance which is best for 18 yr old female and what is the difference? Is $12 per month a good premium for a 30k term life policy for the 18 yr old female? Everyone should have some life insurance coverage to pay for funeral expenses. I believe this is what she wants it for that and a little something to pay off any bills she may have. I thought it was a bit too high for only 30k.

What whole life insurance policy is best for a 24 year old? I have a policy from New York Life, but 2 of my friends who are financial planners, say Mass Mutual would be better... there's a bunch of baloney I'm not understanding i.e. guaranteed benefits, crap about withdrawing money for retirement. Altogether, it doesn't seem like I am getting that much from death benefits with the amount I am putting in ($1K/year until pretty much I'm 65). I don't want to pay forever for this... where in my policy does it say when I can stop paying?

Why would I pay more for less coverage in whole life insurance? when I can get the right amount of coverage I need for less money in term insurance?

How soon after you get a whole life insurance policy can you borrow against it? Also, does anyone know about the tax penalties that come with borrowing against your policy?

Can a whole life insurance policy be used to secure a loan through collateral assignment? specifically a home loan. Also, if it does secure a loan, how much? based on value of death benefit or cash value?

which is a reputable life insurance company to get whole life insurance without a physical exam.? Can you name a few companies where I can take out a life insurance policy against myself, my husband without take a lenthly physical exam.

Is the death benefit of whole life insurance adjusted for inflation? $1 million today is not much 30 years from now when I die. How much is a annual premium (range) for a today for a healthy 30 year old woman?

Can anyone tell me about non participating whole life insurance policy? I'm 24 years old and working as a professional in malaysia.Recently i bought an insurance policy from AIA.After reading my insurance policy, i want to know a few things like 1) will i'll be getting annual cash dividents? 2)if let say i want to surrender my policy after 20 years..will i'll be getting my premiums back + the dividents? 3)is this the best savings+protection policy? I'm confused..i want to ask my agent but i think its better to get opinion from other people first before consulting her. and one more thing..is it benificial to own a few insurance policies? Yeah..actually im more looking towards protection compare to $$ because i want to make sure my children have enough $$ to support their lives in case something happened to me...

How does borrowing against a whole life insurance policy work?

I have a whole life insurance and want to take the cash value, what is the best way to do it? After reading about buying term and investing the difference, I found out that I can save hundreds of dollars a month by buying a 30 year term policy and get more coverage. With the money I saved, it gives me options on what I can do. Besides investing it, I can also pay a little more into my debt payments. I have about $32k in the cash value, after surrender charges, its $28k. I want to get the most out of my money, but not sure what to do. I can't put it all in my Roth IRA. I don't want to save it in my bank account since I only get 0.75% interest on it.

How do you set up an account in Microsoft Money for my whole life insurance policy? There doesn't seem to be an appropriate category to choose. Is it considered an Investment? An Asset? Or what?

Is the surrender value of whole life insurance taxable as normal income or as long term capital gains? My insurance company has told me that over $6000 of the value will be taxable. I've had the policy for 20+ yrs and am hoping that the $6k is taxed at the LOWER long term capital gains rate - not as normal income, which is almost twice as much.

What is the difference between whole life insurance and term life insurance?

How much would a paid up purdential whole life insurance policy from 1936 valued at $380. be worth toda? The insurance policy was paid in full in 1956 and had cash value at that time of $171.00. The policy states that all dividends earned will be returned to the policy in the form of paid up insurance. That is what the policy stipulated in 1936. Does any one have any idea what it might be worth in todays dollars. Bigjoe

what is the current cash surrender value of a whole life insurance policy? Is this the amount I would get after I cancel a policy? My policy shows this amount minus loans asnd interest and plus dividends and go-rider cash values. I can no longer afford the premiums. I just need to know that if a stated cash value is the amount i would get. In my case that is $17,000.

How do I calculate the IRR of a Whole Life insurance policy in Excel? Column A lists the fixed annual premium each and every year and Column B lists the Death Benefit which is growing every year.

Is it possible to get whole life insurance for purpose of borrowing against it ? I'm trying to pay off some debt

What is the difference between whole life insurance and term life insurance? Which is better?

I currently have whole life insurance, to help my family in case something happens. Should I have term also? Also, what is a reasonable amount to have for both? I originally just wanted a whole life policy to cover funeral expenses etc just in case something happens to avoid burdening my family, but maybe I should try to get more while I'm young to save money, and also so my family will have money left over. I plan to live a long life, but ya never know. :)

How do I determine if Term or Whole Life Insurance is best for me?

What is the difference between term, universal and whole life insurance? Which is the best way to go?

what is the value of a 20yr pay whole life insurance policy worth today paid up 20 years ago $1000.00 face val has it been drawing interest for the 20 years ago that it was paid in full?

Why are universal life and whole life insurance policies more costly than term insurance policies?

When does Whole Life Insurance start paying off for itself? Do you recommend Whole Life or Term?

What time of whole life insurance can you use as an investment vehical and how?

I bought Whole life insurance in 1990, has not done well. How can I get better return on this? Cash / reinvest return rate is really bad. Was suppoese to pay for itself after 7 yeras. has not done that. Now has negative premium, keep on reducing total insured amount with age.

I want Whole Life insurance and Gerber Life insurance seems good for my Newborn boy. Should I get it too? It says 8.40 for me for 10k and 3.70 for each 5k I want to go higher. For my girlfriend it says 7.80 for the first 10k and 3.40 for each 5k extra. Does this sound like a decent deal? I dont make great deals of money each month, so I just want some decent coverage if the inevitable does happen. So I guess since I am a current sophomore in college i could just get term life insurance and then convert it to whole life once i get a good job. So then would you say term is better than whole life in my situation of being a 19 year old parent?

Which Insurance company is best for Whole Life Insurance ? I have search only 2 big compnay Metlife and New York Life. I am 24 years old and want that whole life insurance for my life. So i want to know which compnay i need to choose for whole life insurance.... Metlife or New York Life ? I have quote from metlife Insurance...Agent told me my premium payment gonna be $3510.00 per anuual for $500,000.00 ( insurance amount). and i am 24 yeras old it has cash value too.. So i need some information from ur side...should i take it or ?

Can someone explain term and whole life insurance.? I have been searching for life insurance I am in my 30's already and have children. I am so confused about term and whole what is the difference and what is the best to purchase given my age.

What is the difference in whole life insurance and term life insurance. Which is best?

What company has the best whole life insurance? The policy I am looking at gave between an 8% and a 12% return on the cash value over the past 20 years. How do I find out how other companies performed over this period?

Is whole life insurance a bad idea for a retirement plan? I currently have a 401k with the max invested/yr. 15K + employee contribution - I'm thinking of utilizing a 457 plan, but a finacial guy said I should consider a life ins. plan for tax benefit purposes. Any suggestions appreciated!