Life Insurance - Term Life and Cash Value
Term Life insurance is best for the majority of people. Insurance agents get 50-70% of your first year's premium as their commission for Cash Value policies. One doesn't need insurance after the debt has been paid off and the children are out of home.Cash Value policies offer life long protection, no risk, guaranteed returns, tap the cash for a low interest loan. Statements from insurance companies don't explain the savings and the rate of return. They don't always break out on commissions, charges and fees - all of which are subtracted from your premiums and reduce your rate of return. Also one should contribute to the retirement plans to the maximum before thinking about life insurance.
posted by Valli @ 9:31 AM
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