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I sell life insurance and I STILL think this is a load of malarkey. When I talk to my attorney he says right or wrong he will defend me right down to my last dollar. Same thing with insurance they recommend you insure everything right up to the point where you have no more money. Bought a toaster, the store recommended I get replacement insurance it case it stopped working. So I asked, can't I just buy another?
Life insurance it does have it's place but if you don't have true dependent needs then maybe not so much
But to get life insurance just to leave something to your heirs or favorite charity seems silly. Spend the money on them while you are living.
Insurance companies are willing to insure you whether it is term or whole life. The fact , is that they pay out 1 claim in 700 lives insured. They are betting that you will live, and you are betting that you are going to die....if you live to be 65, and do not have any major health issues, you will likely live until age 95. Most people have either cashed in their whole life, or their term insurance had expired long before you reach 95.
Take what money you can and invest in log term growth income investments. By time thirty years have passed, you should have more money than you can spend. Then when you are your spouse dies, they will continue to have enough funds to live on for the rest of their life.
You do not need to leave anything to the children...let them get off of their **** and do the same thing you did.
I found something that MetLife is not upfront and honest about. I asked one of their agents if they share or sell my information. He assured me "no they do not share your medical information; if they did they would go out of business real fast". Needless to say this is not true. Buried in one of the papers that they have you sign allows them or their reinsurers to submit "a brief report of my medical personal health information to MIB". MIB stands for Medical Information Bureau. MIB makes it a lot easier for other entities to access your personal medical information. This in its self makes what I was told by one of their agents deceptive. On top of that there is nothing on the paper that you sign telling you what MIB is or why they are submitting a report about you to MIB. They also state that they can redisclose information about me as authorized by me in writing OR as permitted by applicable law, except their contract does not abbreviate "or". I believe these to be clever but deceptive ways of getting you to sign away your rights on your ability to protect your personal health information, but sometimes you don't realize it until much later since their agents and contracts are not always clear, upfront, and honest about it and most people do not know what MIB is or what is "permitted by law". I would recommend that anyone signing their authorization forms (or anyone else's forms) cross out the part about them sending reports to MIB and cross out the "as permitted by law". I would also recommend adding a line that states they must notify you AND get your CONSENT each time your information is disclosed by them or their affiliates along with a detailed description of why your information is being disclosed, and the exact information that is being disclosed. I would also recommend adding a line stating that anyone they disclose the information to must also abide by the same rules and sign a contract stating as such prior to disclosure. We as individuals need to start demanding better treatment of our personal information. We are the ones keeping them in business, but they do not seem to respect that. I also believe that trying to force us to sign contracts with things such as these in them or denying service is just another form of extortion. If we all stand up to this together then we can and will make a change. If anyone from any legislative branch is reading this then I would appreciate it if you would help by making it illegal to put such things on a policy that obviously do not benefit the person signing and was meant to trick them into giving up their privacy rights. Personally I believe that companies such as MIB should be deemed illegal and should be shut down. This is like the ultimate invasion of a person’s privacy. Why do we even have HIPAA laws when there are so many ways around them? On a positive note there are some policies out there that are much worse than MetLife and seem to exclude just about everything that you could possibly die from. I don’t know why anyone signs those types of exclusion contracts unless they aren’t reading anything on the contract. Anyway these are my personal opinions I would be interested in hearing yours.
I do not agree with most of his direction.
#1 is NEVER BUY WHOLE LIFE!!!!!
IT IS ALWAYS A BAD DEAL!!!!!
DO NOT BELIEVE THE BS
RETURN OF PREMIUM, BORROW AGAINST IT IS ALL CR#P!!!!
THE MATH THAT THEY USE IS ALWAYS BOGUS SMOKE AND MIRRORS.
If you need the insurance --
It is much less expensive.
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