Posted by GeneMO on January 06, 2011 at 19:24:07 from (76.4.166.249):
In Reply to: life insurance OT posted by steve terplak on January 06, 2011 at 18:11:35:
I have quite a bit of whole life, I bought it when I was young and healthy. My policies had a guaranteed purchace option so I could buy more at certain birthdays, when a child was born, etc. This is so if you become uninsurable you can buy more, regardless of your health. You buy life ins. to protect your family in case something happens to you. To pay off bills, take care of the wife, and put the kids through school. I had kidney failure at 30 years old. So every time it was offered, I bought more.
Now if you have few bills or obligations such as mortgague or kids. Buy enough term to put you in the ground.
Whole life at one time was really a poor investment. Investment is the key word. But with low interest rates now, some whole life policies had a guaranteed 3% or 4% return, so it proved to be not such a bad deal.
I think the key is to examine your needs, your bills, and your family situation. Buy enough term to pay the bills and replace your salary for 4 to 5 years if you get hit by a truck. If you can afford it, but a little whole life also.
But above all, start a regular savings or IRA account. Social Security will not be there to protect you.
Over the past 40 years I just paid the ins. premiums and forgot about it. I checked not that long ago and have almost $60,000 cash value that I can draw on tomorrow if I want. I was pleasantly surprised to say the least.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
... [Read Article]
Latest Ad:
2022 John Deere 5045E, 4wd, front end loader and 3rd function with grapple. 120 hrs, 55k new, must sell
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
