That is exactly right. Why spend all that money and let the insurance company profit from the huge premium. You can “buy term and invest the rest.” Only problem here is it takes some discipline to absolutely put away that extra cash in an IRA or some retirement program so you don’t end up with no estate when your older and a huge insurance premium. Remember term insurance rates go up each time you renew the policy. So if you get five year term; in five years your rates are going up because you’re older.
That is exactly right. Why spend all that money and let the insurance company profit from the huge premium. You can “buy term and invest the rest.” Only problem here is it takes some discipline to absolutely put away that extra cash in an IRA or some retirement program so you don’t end up with no estate when your older and a huge insurance premium. Remember term insurance rates go up each time you renew the policy. So if you get five year term; in five years your rates are going up because you’re older.
Comment by insuranceanswerman — January 4, 2010 @ 9:23 pm |