Questions tagged [whole-life]
29 questions
24
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Should I purchase a whole life insurance policy? (I am close to retirement)
I am 65 and my wife is 59, we are planning to work until I am 70-72, and I plan to withdraw social security at 70. We have retirement savings of roughly $2,000,000 of which $1,600,000 is in mutual funds (mostly index funds) and $400,000 in TIAA…
per
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When is Cash Value Life Insurance a good or bad idea?
What makes CVLI either good or bad? If you get it while young (~23 years old) and have a respectable starting salary then what are some benefits or detriments to having it?
The specific policy I'm talking about is from Northwestern Mutual.
Is it a…
Joe Phillips
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5 answers
Why should I invest my money in a life insurance policy?
As i am 24 now i get lot of calls from lot of insurance companies asking to take up an insurance policy.... So i decided to get answers for some of my questions in basicallymoney...
Why should i invest my money in insurance?
What age would be…
Pandiya Chendur
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14
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What kind of life insurance is cheaper? I'm not sure about term vs. whole vs. universal, etc
What kind of life insurance policies are the cheapest? what are the features of different kinds of policies out there? What should I be looking for?
bms2
13
votes
4 answers
"Infinite Banking" or "Be Your Own Bank" via Whole Life Insurance...where to start?
I've been researching the concepts of "Infinite Banking", "Be Your Own Bank", etc., as they seem to be hot topics right now. At first, I was extremely skeptical about the concept, however, I believe I understand the mechanics of it now, and I…
jrista
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9
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3 answers
Second opinion on investments
I'm working with a finance professional to receive guidance on investing and retirement planning for down the road. We like the individual that we are working with but he/she is compensated via sales/commission.
When reviewing suggested investment…
skimobear
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What are the consequences of cashing out a whole life insurance policy?
My wife has bought a whole life insurance policy as an investment before we met. She is currently in her early forties and she has been paying into it for roughly seven years.
I do not believe that life insurance makes a good investment, especially…
David Ogren
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7
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3 answers
How to replace a whole-life policy?
If I understand a whole-life insurance policy correctly, it can be viewed as a series of predefined term insurance policies combined with a savings account with a guaranteed minimum return. You "over-pay" for the term insurance in early years and…
Elros
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7
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4 answers
Timing on cashing out whole life policy?
8 years ago I was talked into a whole life policy. Big mistake, I know. Currently, the cash value of the policy is around 50% of what I've actually paid in premiums. I would like to cut my losses but want to do it at the right time.
Is it "the…
codeConcussion
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6
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5 answers
Whole life insurance as an investment vehicle
From everything I have read I still cannot be convinced of Whole Life Insurance but it seems to be the first thing any financial advisor is trained to sell.
From what I read there are minimum guaranteed contractual rates at which the cash value of…
Ryan Doom
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Can I trade the death benefit for more cash value in a whole life insurance policy?
There are several questions on this site that make good arguments that whole / cash value life insurance policies are not good investments (see here, here, and here).
For the most part, I'm convinced that a CVLI is a bad idea -- especially if you…
Steve
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5
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Are there benefits to purchasing term life insurance with an option to convert to whole life, and what type of consumers should purchase it?
Most of what I read says, "whole life insurance is not for you", but they don't elaborate much more than that. There's even less about term life insurance that has an option to convert to whole life insurance. Are their benefits to purchasing term…
Hoppe
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4
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How should I represent a Whole Life insurance policy in Quicken?
I have a Whole Life insurance policy (actually Northwestern's Adjustable Combination Life) and I track my finances through Quicken 2011. What is the best way to set up an account to track payments made to the life insurance policy and its cash value…
Bryan Anderson
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Whole Life Insurance As Inflation-Protected Liquid Cash Savings (Emergency Fund)
A financial advisor (Northwest Mutual) told me I should buy a whole life insurance policy as an inflation-protected liquid cash savings. What he said is that while the yield is low, in the long term (not short term), it provides an account from…
user50757
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4
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How to do long-term financial planning if your career is expected to be international?
I am thinking of getting life insurance and starting to think seriously about retirement (I'm going to turn 30 next year), but I expect that I will live in a couple of different countries over the next 10 years at least.
What are the implications…
luispedro
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