Term or Whole Life, that is the question?
The Cost of the Death Benefit over your lifetime might just surprise you!
Most people try to find a life insurance policy that costs them the least amount of money for the highest amount of death benefit.
When one truly understands life insurance, you will look for a policy that you can pay as much as you can into, for the longest time frame, with a growing death benefit as the icing on the cake. Also, this policy will appear as if it costs way more than other types of life insurance, but in actuality is comparatively cheaper.
How crazy does that sound? Ridiculously crazy right.
Some important questions need to be considered before deciding which type of life insurance suits your needs most, Term or Whole Life. I have created a list of questions you should answer before deciding which really does suit your needs most, as both types of insurance are necessary for different reasons. The actual cost of the death benefit over your lifetime just might surprise you.
Ask Yourself and Answer the Following…
Categories: TERM or WHOLE LIFE
What happened when James Stewart (George Bailey) went to the bank to ask for a loan?
He was first asked by the banker (Lionel Barrymore as Mr. Potter) , “What collateral do you have?” His Answer,
Click here to view George’s answer on video
Next question asked by Mr. Potter was, ““How much equity do you have in it?”
Our grandparents and great grand parents generations knew the value of Whole life insurance. They did not have Term Insurance with zero equity and that runs out or cost too much when they needed it most.
Term insurance has its place but should not replace properly designed permanent life insurance.
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