buckmanmike
Senior Member
Aren't most good term plocies guaranteed renewability. After the length of orjginal term, you can get another term policy at attractive rates, as long as policy is in good standing.
I've been I insurance business for 30 yrs, though not specializing in life insurance, thus I am pretty unbiased. Listen to deerhunter092. Best advice on the thread so far. Whole life is great for funeral expenses, term is great for covering debts of specific durations (mortgages, car notes, income replacement in younger years).
Probably the biggest reason to buy life insurance is security....Artful, what investment could you have made that would have paid you $10,000 if your wife had passed a month after you took out the policy ($10,000 return on $17 investment is pretty darn good in my book)?
Find someone you trust, tell them what you want and let them find you the best rates. Plenty of companies out there that spank Woodmen and Farm Bureau's rates
My $0.02
Term Life IMO sucks
My dad was sold a term plan where he worked, he knew nothing much about insurance other than he needed it to take care of his family if something happened. Now at 86 he is stuck with this, an extremely high payment just to keep it. He cannot get any other at his age and the policy now will be barely enough for funeral expenses. I would have to agree to invest your money where it will grow and you do not have to make payments.
“The best laid schemes o' Mice an' Men,
Gang aft agley.
An' lea'e us nought but grief an' pain,
For promis'd joy!