Should I buy this whole life insurance?

[ERD50]

Quote:

Originally Posted by ziggy29 Well, that's pretty much unanimous now, and hopefully OP has taken it to heart. ...

Well, he hasn't logged on since he posted the question. Another hit-and-run poster?

-ERD50

[dallas27]

Is there even such a thing as a good while life policy? I am conditioned to assume whole life is to insurance as nazi is to politics.

But maybe i'm wrong, are there a few small "good guys" out there?


Sent from my iPhone using Early Retirement Forum

[panacea]

You should seriously think about buying the whole life insurance. Sounds like a great investment.

Just kidding!

Buy term and invest the rest is the answer I think you'll get from everyone here.

[ArkTinkerer]

I recall reading about using a whole life policy as a means of passing on an estate to heirs. Was presented as being cheaper than paying the estate taxes at the time. I didn't give it much thought since the dollar amounts involved were much higher than anything I expect my estate to be worth. Other than that, I can't say I've ever read a well reasoned article in favorl of whole life insurance.

[pb4uski]

Quote:

Originally Posted by dallas27 Is there even such a thing as a good while life policy? I am conditioned to assume whole life is to insurance as nazi is to politics. But maybe i'm wrong, are there a few small "good guys" out there? Sent from my iPhone using Early Retirement Forum

Whole life can be very appropriate for estate planning and small business succession so a family doesn't have to sell the business or the farm to pay the estate taxes. It works well where one has a permanent need for life insurance, but most people's need for life insurance decays over time as the kids grow and leave the nest and they build wealth.