Life Insurance

**CyTom** · 10-03-2007, 02:51 PM

Trying to decide between buying term life or perm life. What are some viewpoints?

**Jerry1982** · 10-03-2007, 02:52 PM

How are you feeling?

**isufbcurt** · 10-03-2007, 02:53 PM

Originally Posted by Jerry1982

How are you feeling?

perm life!!!!!

**SuperCy** · 10-03-2007, 02:56 PM

I'm gonna live forever. FAME!!!

**Cyclonesrule91** · 10-03-2007, 03:09 PM

Term insurance all the way

**bos** · 10-03-2007, 03:11 PM

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?

**4VR4CY** · 10-03-2007, 03:17 PM

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

**rte4st8** · 10-03-2007, 03:18 PM

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.

**clones26** · 10-03-2007, 03:19 PM

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.

**tigershoops31** · 10-03-2007, 03:21 PM

[quote=4VR4CY;200984]I have whole life (perm). It is the difference between renting (term) vrs buying (whole/perm).

For the term though can't you re-up guaranteed at the end of your term for a certain rate? I'm sure that's what we got here recently. If not I better start eating like crap and not exercising to make sure I get my money's worth before my term's up...well crap I guess I've already been doing (or not doing) those things

**4VR4CY** · 10-03-2007, 03:21 PM

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.

**bos** · 10-03-2007, 03:22 PM

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.

**4VR4CY** · 10-03-2007, 03:25 PM

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.

**tigershoops31** · 10-03-2007, 03:27 PM

Originally Posted by bostinelosd

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.

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

**bos** · 10-03-2007, 03:28 PM

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.