Life Insurance

Discussion in 'CF Archive Bin' started by CyTom, Oct 3, 2007.

  1. CyTom

    CyTom Member

    Mar 30, 2006
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    Trying to decide between buying term life or perm life. What are some viewpoints?:mask:
     
  2. Jerry1982

    Jerry1982 Member

    Sep 3, 2006
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    How are you feeling?
     
  3. isufbcurt

    isufbcurt Well-Known Member

    Apr 21, 2006
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    perm life!!!!!
     
  4. SuperCy

    SuperCy Well-Known Member

    Nov 30, 2006
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    I'm gonna live forever. FAME!!!
     
  5. Cyclonesrule91

    Cyclonesrule91 Well-Known Member

    Apr 10, 2006
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    Term insurance all the way
     
  6. bos

    bos Legend
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    Apr 10, 2006
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    I dont care. Ill be dead. =) I havent gotten any life insurance yet. I have mortgage insurance which Im debating on changing. That will pay for the mortgage in case I or my wife dies. But it decreases over time. Who is a good life insurance provider?
     
  7. 4VR4CY

    4VR4CY Well-Known Member

    Aug 28, 2007
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    I have whole life (perm). It is the difference between renting (term) vrs buying (whole/perm). I use:

    Scott Schmailzl, LUTCF
    New York Life Insurance Company
    4900 University Ste.225
    West Des Moines, IA 50266
    Business Phone: 515-453-1356
    Cell Phone: 641-780-4740
     
  8. rte4st8

    rte4st8 Member

    Nov 28, 2006
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    I do part term to pay of the mortgage and provide for the kids college in case something happened prior to either one not being provided for prior to death and part perm to pay for funeral and final expenses at death. example $350,000 term about $35 per month and $100,000 perm for $50 per month.
     
  9. clones26

    clones26 Well-Known Member

    Nov 8, 2006
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    not term unless you plan on dying in that time frame, otherwise all the money you put back is lost in the end, go with the perm. Maybe even universal, it seems to be good.
     
  10. tigershoops31

    tigershoops31 Well-Known Member

    Apr 13, 2006
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  11. 4VR4CY

    4VR4CY Well-Known Member

    Aug 28, 2007
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    Oh, perm (whole) you can use as an asset when taking out a loan, etc. It gains in value over your life. Term is more expensive the older you get and usually resets in price every year to every 5 years. If you talk to a good financial adviser, they will do a whole survey for you and let you know how much you may need (make sure they go though this with you or you might be oversold by some) and give you options based on the amount per month you can afford to pay.
     
  12. bos

    bos Legend
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    Apr 10, 2006
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    Why does it cost so much to die. I told my wife to throw me in a homemade box and dump me under the lawn. Im not picky.
     
  13. 4VR4CY

    4VR4CY Well-Known Member

    Aug 28, 2007
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    Everyone says that about themselves. But, put yourself in your wife's shoes. She would want to do the best for you and would also want to live comfortably as well. Everyone always says they will sell their house and use that money. What if the market is like it is now with housing when you die. You will leave your wife with bills she can't pay, stress, no time to mourn b/c she has to worry about bills, etc.

    Can you tell I have my Life insurance license, Series 6 and Series 63? I would offer to be your agent, but I am not beating the streets at this point.

    Edit: Also, beware of your work insurance. You can take it with you (term) but at a much higher rate than normal. What if you are laid off? It is better to have a little at work (usually low cost) and buy some on your own.
     
  14. tigershoops31

    tigershoops31 Well-Known Member

    Apr 13, 2006
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    Just make sure she doesn't remember that if you have a heated argument some time...now you've posted your consent on the information superhighway so I don't know how the courts would rule on it :confused:
     
  15. bos

    bos Legend
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    Apr 10, 2006
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    Oh i have no problem leaving her financially ok. I would get the insurance for her sake. I just dont want her to go overboard with my funeral and burial. I dont need a pretty casket. Just a wooden box with a cyclone on the side.
     
  16. bos

    bos Legend
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    Apr 10, 2006
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    Well im hoping she waits till I die first before heading to the lawn. =)
     
  17. VII_Fe

    VII_Fe Member

    Oct 29, 2006
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    Don't worry about it. If Hillary gets elected eventually that will be a Government program as well.:arghh:
     
  18. 4VR4CY

    4VR4CY Well-Known Member

    Aug 28, 2007
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    You just had to get political, didn't you? :wink:

    Have your requests put in your will. You do have one of those, right?
     
  19. tigershoops31

    tigershoops31 Well-Known Member

    Apr 13, 2006
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    That's always the hope :unsure:
     
  20. ISUFan22

    ISUFan22 Well-Known Member

    Apr 11, 2006
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    Denver, CO
    I work in life/health and I'll say one thing and one thing only about which is better...

    It depends.
     

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