Comments on: How Much Life Insurance do You Need?

By: Comment on How Much Life Insurance do You Need? by matthew

Comment on How Much Life Insurance do You Need? by matthew — Sat, 28 Jun 2008 23:01:26 +0000

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By: matthew

matthew — Sat, 28 Jun 2008 15:31:22 +0000

Life insurance is a must for solid financial plan. People should have enough to cover this: 1. pay off debt 2.pay final expenses 3. leave income for spouse/pay for future expenses (ex. college, spouse’s retirement, inheritance, estate taxes) Term vs permanent. term is good to cover the total death benefit while it is needed. A million dollar benefit might be needed for a 30 yr old with debt. good income and a family, but when that person is 50 and the kids are out of the house and the debt is gone. the death benefit dosent need to be as high anymore. know do you still need insurance at that point. Yes and thats were permanent insurance comes in. for life long coverage. Also with the way the economy is going with social security and government funded programs. soon people are going to be using permanent insurance for retirement. America is going to have to raise taxes to fund these programs. America will never let the soon to be 78 million baby boomers suffer. So tax favored plans like permanent insurance and roth ira are going to be the only option unless you like the government to collect your retirement money for you.

By: Insurance » Blog Archive » How Much Life Insurance do You Need?—�

Mon, 17 Mar 2008 17:47:53 +0000

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By: Term Life Online

Term Life Online — Tue, 26 Feb 2008 20:07:17 +0000

I recommend using an online life insurance needs calculator to help you determine how much life insurance you need.

They consider all of the critical financial factors in assisting you with finding the right figure to properly protect your family.

A life insurance needs calculator is fairly easy to use and you get an instant answer.

By: All Things Financial

All Things Financial — Wed, 01 Feb 2006 15:42:02 +0000

Determining Life Insurance Needs – The Easy Way

I recently reviewed Jane Bryant Quinn’s newest book Smart and Simple Financial Strategies for Busy People that will be out in early January. She talks about a relatively simple formula offered by the Consumer Federation of America: Married couples wit…

By: The Unknown Professor

The Unknown Professor — Wed, 21 Dec 2005 03:19:55 +0000

My sense (from teaching personal finance and working in the field years ago) is that people seldom have “too much” insurance interms of coverage amount. In fact, I’d guess that most people are pretty underinsured.

At the same time, they also often DO have is too much premium. These two phenomena are caused by their having been sold permanent (i.e. whole life or universal life) policies as a combination insurance/savings program.

From what I remember, the difference in the agent’s commisssions between term and whole life was phenomenal. So, it’s not surprised that most insurance sold was the expensive, permanent kind.