All Life Insurance Tips

What is the best type of life insurance?

Between whole life, universal life, variable life, and term.

Public Comments

1. It depends on one's circumstances. For most people, term insurance is the most cost-effective answer. For many people, any of the other three kinds of permanent insurance work well for estate planning, etc.
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3. Best type of life insurance is which cover ur requirement as per my opinion whole life along with term will cover full recruitment
4. Term. It's the kind you get to protect your children and the surviving young parent if the main breadwinner dies or is killed. You get it for 20 or 30 years--then it ends. It's the least costly because young parents are usually healthy, and thus low at risk of dying. And it's the most sensible, because what do you REALLY want to accomplish with life insurance? You want to protect your loved ones from financial devastation or hardship in the case of your untimely death. It's 'insurance' in the true meaning of the word. We had term on my husband for 20 or 30 years while our kids were little. Now they're adults on their own. We no longer have any life insurance. But we don't need it--we've got equity. Whole life is a big ripoff--insurance companies love whole life because they make so much money from it. That is, they make big money off of you. You lose. It isn't even really 'insurance.'
5. It really depends on your situation. Things such as what the insurance is for, your goals, your age, health, financial situation all play a role in the type of insurance that is best for you. Usually it will be a combination of term and permanent insurance. Under most circumstances the permanent insurance would be whole life from a mutual insurance company. Please let me know if you have any questions.
6. what's the best power tool at Home Depot? There's NO WAY to pick the best product, until you've first DEFINED THE JOB. For most people, term is the best product for the job, but that is NOT absolute. For some people, another form of life insurance might be best. Before you pick a tool, you have to define the job.
7. It depends on your circumstances... Do you need it to simply protect your family if you pass away, and only need it for the next 10 or 20 years?- Then term is probably best for you. Do you want the ability to also accumulate cash on a tax-deferred basis? Then a permanent policy is probably better... but then you have to decide if you want the safety and predictability of a whole life policy, or if you want flexibility with a UL policy. There are risks of the market involved in Variable UL policies as well... I recommend checking out www.lifequotenow.com to read a little bit more then speak with an agent who will help you decide what is best for you. They are financial advisors, so they will be able to advise you based on your needs and wants.
8. Term life insurance is undeniably, the most popular type of policy today. This type of insurance as mentioned above can be purchased for a pre-determined term period – from as little as one year to thirty years. In the event of a death within this period, the appointed beneficiary will receive the death benefits of the policy. The annual premiums for this type of policy are inexpensive as compared to permanent life insurance rates. What most people are not aware of however it’s that there are various options available within this type of policy. You could opt for level term life insurance and Return of Premiums (ROP). This is a popular insurance option due to its affordable premiums and high death benefits. You can check out http://www.accuquote.com/types.cfm for more information on term life insurance.
9. It depends on what you can afford. You can get $500,000 of term insurance for under $30 a month. That same amount of coverage would cost several hundred dollars a month for a UL or VUL and even more for whole life. Make sure that you get enough coverage and then if you can afford it, start a separate well funded VUL.