by Guest » Tue Nov 05, 2013 11:52 am
If I’m unmarried and without any dependent. Is it advisable to purchase life insurance (to be specific, term life) at an age of 25.
Taking this as a potential investment tool and a wise retirement plan, since after 35 years from now it’ll pour forth a massive amount, would it be wise to purchase a life insurance under these conditions?
Taking this as a potential investment tool and a wise retirement plan, since after 35 years from now it’ll pour forth a massive amount, would it be wise to purchase a life insurance under these conditions?
Posted: Wed Nov 06, 2013 07:17 am Post Subject:
Since you have no dependents, technically you don’t require any life insurance. You might still go ahead and get one if you are going to have dependents in near future. Again, it’s better to purchase life insurance at an early age as of the lower premiums.
For retirement benefits, visit: http://www.ssa.gov/pgm/retirement.htm
Posted: Wed Nov 06, 2013 12:35 pm Post Subject:
Taking this as a potential investment tool and a wise retirement plan, since after 35 years from now it’ll pour forth a massive amount, would it be wise to purchase a life insurance under these conditions?
Life insurance is NOT an investment, no matter what an insurance agent or company wants you to believe. And term insurance has no cash value.The massive amount you intend to "pour forth" into a cash value policy could end up being a massive loss and leave you with no cash and no insurance just before you die. What is that worth, and how wise would it be?
Use life insurance to purchase income protection if you fail to save the necessary funds in honest-to-goodness retirement accounts, annuities, and other tools designed for that purpose.
Posted: Mon Nov 11, 2013 01:41 pm Post Subject:
Oy. Asking about term insurance as an investment? Your cash surrender value will grow to $0.
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