Is 2nd to die life insurance a smart way to go?
96024
Depends on your situation. These are used for a few different things as the guy above me stated. They are used for special needs planning many times and other estate planning. Speak to a financial planner or reputable advisor about your situation.
601363
In many life insurance companies, no one is covered if the owner of the policy commit suicide. Some companies have a suicide clause where you are covered for a certain amount of time when you commit suicide. For a beneficiary to claim life insurance proceeds, a proof of death is required.\n\nRemember, if you are choosing term, you want to choose the maximum length available like 30 years. And also, you want to invest in mutual funds at the same time (you should put away $100/month into it if you understand the Dollar Cost Averaging concept).
98115
Universal Life.  It is cheap builds cash value and never expires. I have a policy on me and my six year old for 87.00 a month I got mine when I was a little older.  The thing with term is it expires and if you have a 20 year policy then when it expires you are left with no insurance and it will be outrageuos(sp) to  repurchase.
815576
The problem with life insurance is that people don't fully understand it, so they believe everything the life insurance agent says.\n\nLife insurance is suppose to be use as a protection of income, not as a tool to use for future goals. Reason why many life insurance companies sell cash value products is because they are more profitable than to selling term.\n\nThe problem with cash value is that when you die, your beneficiary will get the death benefit, but not the cash value. If you live to age 98, you are no longer covered, but you get the cash value. How many people do you know that actually live to age 98? Of those people at age 98 or above, how many are actually sane enough to know they even had life insurance in the first place?\n\nYou are correct that investments should be kept separate from life insurance, but the insurance agent is not going to show the client why it should be kept separate. Buying term and investing the difference is the most cost effective thing a person can do. Check out this blog about the cost between term and whole life: http://obe231.blogspot.com\n\nWhen people read that blog, buying term and investing the difference would make more sense.
247076
If you're single I can't imagine why you would want life insurance, unless you KNOW you will start a family someday.  An annuity may be alright later in life but if your young there are better ways to save for retirement.
88412
Probably the best benefit of life insurance is burials are expensive, and with life insurance, when you expire (die), your family will have enough money to bury you, pay off your bills, etc. (Depending on how much of a policy you get.) You can get life insurance policies through several different companies. Most of the time employers offer it with their health insurance policies. The best policy will vary with your individual needs. If you consult an insurance agent, they can better assist you with your particular needs. To check into it, visit these websites:\n\nwww.aigtermlife.com\nwww.insureapp.com\nwww.1stquote.com/company-list.htm\nwww.accuquote.com
1030286
It depends on whether you have term or whole life insurance.  Term insurance is "pay-as-you-go", and has no cash value (unless you die during the covered term)\n\nWhole life on the other hand, builds cash value (with the idea that that cash value will pay for the costs of insurance at the point that you are older and not working).  If you have a whole life policy with cash value you may be able to 1) cash it out, or 2) borrow against its value.  Certainly consult with your insurance professional since doing either of these may ending up costing you your coverage at some later point (perhaps when you need it the most.)
239999
There are actually several different permanent life insurance plans.  Whole life is one, Universal Life is another and Variable Universal Life is yet another.  Term life insurance makes sense for some situations, but permanent life insurance does make sense for others.  I personally have both.  Anyone that tells to buy one type of policy or another without reviewing your situation is no good.  That includes Suze Orman.
92399
Speak to a Financial Planner in your area. Avoid insurance salesmen, especially those who are "captive" (employed by an insurance company and selling that companies products over others) and those that use a "multiple of salary" approach to determining your need for coverage.\n\nA qualified Financial Planner will help you determine the appropriate level of coverage, educate you on the various types of coverage available, and shop a variety of carriers for the appropriate policy.
861829
Over 50 plans are all well and good, however most do not offer full cover until you have been a Member for over 24 months. If you die before that time you only get your premiums back, not the life sum assured.\nCall a financial Adviser to ask about your own individual requirements. The first consultation is usually free and without obligation (they will tell you over the phone ). He /She may be able to suggest a better option as they can research the whole market not just one company. Good luck
851310
If someone depends on you financially, you should get a life insurance policy, which covers death by any cause, accident or illness.  Term insurance has never been cheaper.  Go to www.term4sale.com to get an idea of what it's going to cost.  Then, find a competent licensed agent to help you get the lowest premium from a quality company (A+ rated or better).  Applying online is OK, but you'll get better service from a licensed agent, especially if there are any difficulties with your application.
793094
Hi, your friendly insurance guy here again. :)\n\nLong, but hopefully informative, post.\n\nLet's get the ugly bit out of the way first:\n\nTerm is cheap, Whole Life is expensive.  Whole Life pays an agent or broker more commission because it costs more and generally is given a higher percentage commission than Term products.  I mention this because there are a lot of people who hate Whole Life products and think the people who offer them are sleazy.  Thus, I am putting that bit out here right in front to satisfy the Whole Life Haters. :)\n\nHere's how Term Works:\nYou buy it for a specified period of time (typically 1, 5,10,15,20,25 or 30 years).  When that period, or TERM, is over, you can usually renew it yearly at a vastly increased cost until you reach a particular age.  The age at which you can no longer renew vaires by insurance company.  If you live past your TERM and have not renewed, your family gets nothing and you have lost all the premium money you spent (unless you have a "Return of Premium" rider, which not all companies offer and which is often extremely expensive to add).\n\nHere's how Whole Life works:\nYou buy it now.  It stays in force typically as long as you pay your premiums.  The payments stay the same forever; ther eis no "holy crap the renewal cost is insanely higher than last year."  It develops a cash value over time and in many cases the face value of the insurance goes up as well.\n\nThis, by the way, is the fallacy of all those people who say "the insurance company keeps the cash value when you die."  That's not exactly accurate.  As long as the cash value is in the policy, the typical function of it is to pay for additional face value of the insurance.  So yes, while you don't get a check for the cash value when you die, your death benefit will be larger than the original face value of the policy, making it generally a wash.  If you have had the policy for a very long time, the policy owner comes out ahead in many cases.\n\nThe cash value is NOT, NOT, NOT an "investment." That term is reserved for certain other things, like mutual funds.  It can be called a cash accumulation vehicle or a savings vehicle.  It is NOT an "investment."\n\nThe downside to Whole Life is that it costs a LOT more than the same face value of Term insurance - at least, in the short run.  If you buy a 20-year term policy for $100,000 at age 25, start renewing it annually after it runs out at age 45, and compare your lifetime costs, the Term policy will absolutely kill your wallet.  The Whole Life policy in the long run costs a LOT less than constantly renewing an old Term policy.  This does NOT mean Whole Life is for everyone.  It's only appropriate in some situations and for certain clients with specific needs.\n\nSo which one is the best?  This is the part where I hope folks who are shrieking "But...but Suze Orman told me to buy term and invest the rest" realize I am not some commission seeking scumbag:\n\nIT DEPENDS.  There is no "off the cuff" answer.  To know for sure which is the best for you, your specific situation needs to be evaluated.  Contrary to what other folks may say, I do recommend using an agent.  I do that because I am one and I treat clients properly.  If you go to an insurance company directly, you lose the benefit of having a local contact.  And guess what?  Generally life insurance companies are NOT going to give you a discount because there's no agent involved.  They charge the same and keep the commission money themselves.\n\nSo talk to an agent.  Talk to several.  Find one that you are comfortable with.  The agent should be focused on doing a full evaluation of your specific needs.  Be careful with anyone who says:\n\n"Buy Term and Invest the Rest." (they have a preconception of what's right without wanting to consider your case may not fit their mold - ask if they are willing to conside
479470
I am 62, and the thought of dying doesn't scare me.  That only gives me 8 more years to do what I want to do..  One needs to have their ticket ready and their bags packed if it doesn't happen fine, and if it does fine also.  I have Jesus Christ life insurance.  I forgot the second part, about heaven.  I will be back first off for the millenium reign of Christ, and then for the new heaven and earth.  So I won't just stay in heaven.
104044
You'll have to be more specific. You can lose the death benefit in any life insurance policy if you let it lapse. INCLUDING TERM.\n\nAVOID any life insurance saleperson that tells you to buy term without learning anything about your situation. As with anything else, there are situations were term is best and there are situations where permanent insurance (like VUL) is best. Those that say buy ONLY term are ignoring your situation and trying to make an easy sale. This sales attitude usually stems from a poor understanding of permanent insurances.
740452
a few questions for you one do you pay for your policy at work if you do then stop you do not want to pay for something now and then if you leave before you retire you are out of luck usually where that coverage would drop off so I would recommend instead just getting a term policy and using some of that money that you would have used for the premium at work and a little extra that you would already be paying \n2 how old are you I would get as long as a term that you can afford because the fact that you cannot guarantee how healthy you are going to be in 5 year let alone 30 years\n3rd I would tell you what I would do if I where you I would get a $100,000.00 UL policy plain and simple that rate would stay the same for the rest of your life, and then if I needed more then the $100,000.00 I would then get a term policy for the remainder in a term policy for the maximum amount of time that one the insurance company offers you and secondly that you can afford if you have questions and want to hear some rates IM me at rahnside and I can pull them up for you I or another Life Agent is Licensed in every state of the US and have over 20 AM Best A- or better companies \n   A Life Specialist \n            Rahn A. Sidebotham II
496965
There is no best, only best for your situation.  If there were only one best there would be no others.  In business companies compete based on 3 areas, price, quality and service.  A company can only be great in 2 of those areas.  Not all 3.  This is like asking what is the best car in the world.  Are you talking quality, service, or price.  All insurance is based on underwriting so what you are asking will depend on the type of risk, (auto, home, health, commercial, etc.) and the level of risk (are you terminally ill and about to die or do you have a bad driving record, etc.
136126
There's two different bases for the insurance.\n\nLife insurance has an inevitability built in.  You are going to die someday for certain and as long as you pay premiums and materially mistate your health or fraudulently try to collect it will pay.  Life insurers (thorugh the use of wise actuarial tables) hope that enough people live long enough to grow enough capital to eventually pay off all their claims.\n\nProperty/Casualty insurance doesn't have the same inevitability built in but is supposed to protect your assets in the unlikely case that a claimable event happens.\nIf you have several claims in a close enough time period, you become too risky to continue to insure, thus the company will cancel ("nonrenew" in the biz) your policy.\n\nSo in life insurance they know you are going to die but just don't know when.\nIn property insurance you could conceivable pay premiums and never need to make a claim.