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I met with a friend the other day regarding life insurance.

 

Recent life changes have forced me to think about my financial portfolio and I'm currently searching for a financial planner, but I don't want to go into it knowing nothing.

 

I can't seem to figure out the value of whole life. I have life through my company, to which I added supplemental to an amount equivalent to double my mortgage.

 

Whole seems to be a stable investment, but not very high growth. Given that I don't have a ton of money to invest, my gut says to put this into something more risky. My agent says that whole life is a key component of risk management. He also explained that given the current tax rate, paying now instead of later, as is the case with a whole life policy. Clark doesn't like them.

 

Any websites or research places or experiences you can share?

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I met with a friend the other day regarding life insurance.

 

Recent life changes have forced me to think about my financial portfolio and I'm currently searching for a financial planner, but I don't want to go into it knowing nothing.

 

I can't seem to figure out the value of whole life. I have life through my company, to which I added supplemental to an amount equivalent to double my mortgage.

 

Whole seems to be a stable investment, but not very high growth. Given that I don't have a ton of money to invest, my gut says to put this into something more risky. My agent says that whole life is a key component of risk management. He also explained that given the current tax rate, paying now instead of later, as is the case with a whole life policy. Clark doesn't like them.

 

Any websites or research places or experiences you can share?

 

I don't have anything to back my statement, but I would stay away from whole life insurance. Buy term and invest the rest elsewhere.

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Guest Inspector Callahan

I met with a friend the other day regarding life insurance.

 

Recent life changes have forced me to think about my financial portfolio and I'm currently searching for a financial planner, but I don't want to go into it knowing nothing.

 

I can't seem to figure out the value of whole life. I have life through my company, to which I added supplemental to an amount equivalent to double my mortgage.

 

Whole seems to be a stable investment, but not very high growth. Given that I don't have a ton of money to invest, my gut says to put this into something more risky. My agent says that whole life is a key component of risk management. He also explained that given the current tax rate, paying now instead of later, as is the case with a whole life policy. Clark doesn't like them.

 

Any websites or research places or experiences you can share?

Insurance is not an investment. I would stay far away from anything Universal, cash value or whole life. There are high commissions and high administrative fees with these types of policies. Term insurance is the way to go, especially at your age. At the end of the term, say twenty years, you should be self insured. Assuming your children are grown and you have little or no debt, you should not need life insurance at all.

Also, baby insurance is a rip. People sign these types of policies out of emotion. Babies do not earn an income so there is no reason to have this type of insurance.

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Insurance is not an investment. I would stay far away from anything Universal, cash value or whole life. There are high commissions and high administrative fees with these types of policies. Term insurance is the way to go, especially at your age. At the end of the term, say twenty years, you should be self insured. Assuming your children are grown and you have little or no debt, you should not need life insurance at all.

Also, baby insurance is a rip. People sign these types of policies out of emotion. Babies do not earn an income so there is no reason to have this type of insurance.

 

Well said.

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