Don’t Buy Term Life Insurance
Don't buy term life insurance if you have a lot of money. You simply should not buy any life insurance at all.
Let Us Look At The Young Married Couple
You have married the partner of your dreams and have decided to get married. You have no children yet. You both work. You save every dollar you can save for the baby you plan on having in the future. You should not buy term life insurance because you are positive you wont die before you see your dreams fulfilled.
You are planning to buy a house so that the family can enjoy it. The children, which you plan to have, will be able to run around their own house. You will be able to toss a baseball at your son's glove in your own backyard. You have all the money to buy this house, so you will need no mortgage. So you have no need to buy any term life insurance.
You are in good health now and you know that 20 years from now you will be there to pay those college expenses. You are going to be there to see your daughter walk up on that podium. May be she will be valedictorian. So don't buy that extra $150,000 of life insurance that will help pay for her college costs.
Possibly you will have no children. As a couple, you enjoy a truly loving and happy relationship. You know you won't develop a life threatening illness that may put you six feet under within the next year, so you shouldn't buy any life insurance at all.
Single Mother With 2 Children To Support
Your husband died, he made some provision for the family, you have readjusted well. You still have a small mortgage on the house, your first born will soon be ready for college, the second will follow in a couple of years. You are quite proud of the job you did with them. Don't buy that extra $250,000 of term life insurance that would guarantee that both children will finish college. Would you want the balance of the mortgage to be paid off if you should suddenly die.
May be, you have been fortunate with your investments and you have a couple million dollars that will be theirs. Estate taxes have not been repealed as yet. So don't buy sufficient term life insurance that would cover your estate taxes. Let the children pay it. Leave them penniless.
Mr. Businessman
You and your partners have big plans. You feel pretty certain that these plans will be successfully come to fruition. After all you have all the best talent in your type of business. Each partner specializes in a certain area. The future looks great.
You shouldn't buy that term life insurance on each partner that would help the company adjust in case of a partners death. You should not buy that life insurance policy that you could use to buy out the deceased partners shares from his heirs. Remember that "buy sell" agreement, may be you have enough funds in the company to fund it. If you do have enough funds I would say do not buy term life insurance or any life insurance at all.
All the smart people that I know of ignore the above advice, and go right ahead and buy the life insurance they need.
For more than 40 years Donald has been known for his extensive knowledge of the life insurance business. He has represented some of the largest and best life insurance companies in the United States as well as Canada. His advice is invaluable.
Donald's website is: http://www.lifeinsurancehub.net
How to Get the Best Term Life Insurance Rate
No one likes to think about life insurance, but as a responsible adult, you need to make sure your family will be financially...
What Is Group Term Life Insurance? What Is The Benefit Of Group Term Life Insurance?
Group term life insurance is the term used when term life insurance is taken in a group. Mostly employers usually take the gr...
Group Term Life Insurance and the Options Available
Group term life insurance is more affordable than individual life insurance policies because the costs to the insurer are low...
Is Yonkers Term Life Insurance Right for You?
Life insurance, we all should have it, unfortunately, not all of us do. Many Americans are provided with life insurance thro...
A Free Term Life Insurance Quote Is Very Easy To Obtain
By searching online for life insurance, you can get a free term life insurance quote with no obligation to buy. In order to g...
Term Life Insurance Rates
A term life insurance covers a person for a substantial period of life, such as ten, twenty or thirty years. A person has to ...
Term Life Insurance with No Exam
You may be surprised some of you pleasantly surprised to find out that not all tem life insurance companies require potenti...
Term Life Insurance Help
Life insurance can be a very scary thing. If you buy insurance when you're 30, but don't die until you're 90, chances are yo...
Affordable Life Insurance
Life Insurance is something we usually start thinking about when we have dependents. Life Insurance falls into two broad cat...
The Nuts and Bolts of Term Life Insurance
If you have people in your life that are important to you, life insurance is a must to avoid leaving them in a tough situatio...
Term Life Insurance - What the Heck Does ‘Annuitant’ Mean?
Few things in life are as complicated - and vital - as life insurance. In many cases, you may think that you need a lawyer p...
Term Life Insurance - The Different Kinds
It has always been known that there are actually two different kinds of life insurance programs -term life and whole life.It ...
Term Life Insurance with No Exam
Many people strive to purchase term life insurance policies that require no medical exams; however, medical exams arent enfor...
Term vs Whole Life Insurance
Term life insurance offers you security only for a specific term or time frame - usually renewable until the insurer reaches ...
Cheap Term Life Insurance - This May Be Your Best Option
Are you in need of life insurance protection but don't know what your best option is and don't have a lot of money to spend? ...
Term Life Insurance Policy Quotes
Although term life insurance is generally the least expensive type of life insurance on the market, variations in the type of...
Term Life Insurance and Permanent Life Insurance
Term insurance and permanent insurance are two basic types of life insurance. Term life insurance is temporary, and it covers...
Smoker Term Life Insurance Policies
If youre a smoker, you may think that you cant get quality term life insurance coverage. In the highly competitive insurance ...
Term Life Insurance - What To Do When It’s The Best For You?
Term Life Insurance has some disadvantages and advantages. However, there are times in your life when it's not just your best...
Cheap Term Life Insurance is Available Everywhere
Cheap term life insurance is easier to get than most people think. Dealing with a life insurance company has been made much s...