Susan Orman on Life Insurance
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Susan Orman on Life Insurance
May 26th, 2010 · 25 Comments · whole life vs term
Tags: and·buy·difference·insurance·invest·life·primerica·Term·the·universal·variable·Whole Life
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Buy term invest the …
Buy term invest the difference…!!!!!!!!!
Yet another clever …
Yet another clever and classy comeback from holeman30.
God forbid he actually talks about LI in detail.
rullau….you …
rullau….you shouldn’t make fun of retardation, so go your mother.
Preach on Suzie!
Preach on Suzie!
Hey guys hate to ” …
Hey guys hate to “Ruin your party” but I got to let you know that Astroman have Severe Retardation. So Please desist making fun of him.
mkikalfingerzz…. …
mkikalfingerzz….roughly 60% of the population only need term insurance.
Sadly …
Sadly majikafingerzz, about half the people posting comments on life insurance videos on YouTube don’t know what they are talking about. You just joined the 50% that seem to know what they are talking about. Thanks for posting.
since only 10 % of …
since only 10 % of the insurance policy actually must remain insurance and that wont even account for 5% of the total gains i would say 5% vs 30% tax is a smart choice. for people that say you never need permanent coverage then what are the people doing to do when they are over 70 and they can no longer get term or the coverage they can get is not only rediculously expensive but by far not adequate. suze orman isn’t right on this one.
the benefit of the …
the benefit of the variable life and index universal life policies of today are that most people using them for investment– people paying 30% or more of their income in taxes.
now ALL people need …
now ALL people need some form of permanent insurance and i for one never recommend variable unless you are using it for investment after you have your base permenant coverage established. for the general working man and wife i do a base whole life policy usually only 20% of their total insurance need and i do the rest in ten year term. this allow for guarenteed insureability for the persons involved. term is great but only for temporary responsibilities.
i actually wonder …
i actually wonder how many people commenting on this actually know what they are talking about. when you have a variable or universal life policy they are basically a renewing one year term policy that builds cash value over the length of your life.
andpenis, wonderdog …
andpenis, wonderdog….looks like you two have become quite close to one another.
0% of what …
0% of what holeman30 says is true. Anyway, sosexi80, I’d love to hear more of your grandmothers story if you get the chance to post any more of it.
Thats not true , …
Thats not true , cash value is also part of death benefit , thars why its not taxed and safe from creditors , the original idea was to protect you from all of death , so such as retirement , disability ect , thats why cash value was made , but we manipulated it so you have 65-75% of your premium in cash value the first year and then when you have 30k cash value the second year , we made it so you actually borrowed 47k , confused? , i can show you …
wonderdog….maybe …
wonderdog….maybe the person fits in that 60% bracket you came up with. Sosexi80 don’t take advice from wonderdog. He works out of his mom’s basement trying to sell whole life policies to people who don’t need them. Instead listen to Dave Ramsey, Suzie Ormon, Smart Money, Consumer Reports.
Sosexi80, your …
Sosexi80, your story sounds a little bit odd. I’m not saying your lying, but I don’t know if your telling us everything. How much was your GM paying for it? How long had she had it? Had she taken out a lot of the Cash Value? To die at an old age and only have 4K to pass along is strange. There must be more to that story.
I’m sorry for your loss and I hope my questioning doesn’t offend you. If others are reading this for LI education, we want to make sure they get the whole picture.
when u die u only …
when u die u only get one.Most people choose the death benefit because it’s usually a larger amount than their cash value. U can pretty much say bye-bye to it.
Term is what people …
Term is what people need. Point blank. My grandmother had a whole life policy and just passed away two weeks ago. Guess how much the policy was worth? $4,000. And she purchased this over twenty years ago. This was not even enough to cover her funeral expenses let alone her hospital bills or debt. So you tell me who benefitted from it? What she says is very true .
fuck all insurance …
all insurance made by jews…..fuck it….
rullau….yes, you …
rullau….yes, you two insurance salesmen can sell those products to one another while spooning each other. Knowing you will be ripping each other off makes it all better.
thaTopdogg13 you …
thaTopdogg13 you can disregard comments comming from astroman, we realize a while back that he is either 10 years old or really really stupid. He won’t get it! trust me… at leat 20 more thinking people tried before. Btw I heard about that IUL policy, sounds great and i am thinking about getting me one. Thanks for the info~!
So I pay $500/ …
So I pay $500/monthly payments with it taking years to build up ANY “cash value?” Tell me, what happens to all those monthly payments if I die? Does my family receive any of those payments back? Or do we get the face value? Also, what happens to all that cash I supposedly build up if I die?
Obviously someone …
Obviously someone who doesnt know how a IUL works. When you go and read up on how a IUL works then come at me and give an opinion. For one I didnt say you were going to become millionare over night it does take time to build huge cash value but you get way more % rate than 3% to 4%. IUL participate with the S&P 500 and you get credited depending on how the S&P 500 performs but even at its possible worst you get a minimum 2 % guarantee so you never loose a single cent unlike so many 401Ks
ThaTopDouche….. …
ThaTopDouche…..Spoken like an insurance salesman. Universal/Whole/Cash policies are garbage. It’s just high payments and high commissions for the sales rep. Stop trying to rip people off and get a real job. “Cash Value” is a hoax. It takes YEARS for any cash to build up, and it grows at a rate of 3 to4%. That’s less than the rate of inflation.
There is a new type …
There is a new type of insurance product called IUL or Index Universal Life that is the product people nowadays should get. 1.) It provides Life Insurance so god forbides anything happenes your family will be protected. 2.) It provides Cash Value that you can use when it comes time for you to retire. 3.) The Cash Value that grows in your policy can be pulled out 100% tax free for you to live off for retirment if done right. 4.) It provides a guarantee so you never loose a single cent