What is everyones opinion on Life Insurance?

[aliG]

Can we get a thread started on this. Some people say its not worth it, some say it is. Whats the coli opinion?

 

[Rout3r2035]

Will you must likely pay into something you won't get an equal utility out of? Most likely yeah. Is it still necessary? For 99% of people, absolutely.

 

[Macallik86]

Unless you do something risky or know something that the insurance company doesn't, I'd say no.


Edit: Actually it makes sense for a lot of people. Disregard my initial statement

 

[JahFocus CS]

It's fairly inexpensive and you can die at any time. So unless you've got a ton of money saved up that your loved ones will inherit, or you don't give a shyt about them struggling after you die or whether you get buried or not, I'd say it's a must.

 

[hashmander]

i have a term life policy with a return of premium rider. i don't have a wife or kids, but i do have loved ones that i would like to see taken care of if i die prematurely.

 

[Truefan31]

Only life insurance I got is term. Again imo whole life is a ripoff.

Term is cheap and does what it's supposed to do, take care of loved ones if you die. I got a million 20 year term. About 45 a month.

 

[Mr210]

For my job I automatically get 50,000 a year and for an extra like $15 a month I have another $250,000 added to that

 

[Hijo de luna]

Term life insurance is cheap $15-$20 per month for a 20yr $250k policy. I have another $50k with my job. My wife and I both have policies. Stay away from whole life. I know AIG will still approve you if you're a gunja smoker but the policy is a couple dollars more.

 

[Panther]

Term is good

Whole life is bad

 

[Rawtid]

It's necessary, imo. A nice term life policy is good because it's inexpensive.

 

[gottah8me]

Have something to cover the expenses once you gone, funerals ain't cheap.

 

[The Bilingual Gringo]

Integral part of wealth transfer, estate structures and the ultimate accumulation of generational wealth. Whole life gets a bad rep because of the historically poor growth they offer, but when you look to shield a lot of liquidity from estate taxes, taxes in general, etc. it's the best way to go.

Term is good, but only when used properly. There are plenty of great products that people can buy in their 20's and 30's that offer permanent solutions and are best paired w/ term to cover a certain period when there are kids in the mix, etc.

My firm uses whole life/permanent products all of the time to fund retirement. The death benefit is just that, a death benefit.

 

[MillionMills]

i have a term life policy with a return of premium rider. i don't have a wife or kids, but i do have loved ones that i would like to see taken care of if i die prematurely.

How would you see that?

 

[hashmander]

How would you see that?

from above. i'm going to heaven.

 

[Black Panther]

Worth it. Buy term life insurance. Usually less than $30/month if you're reasonably healthy with no life threatening conditions.

If anybody stays in/near STL, I can get you a good deal on a State Farm policy. I have a guy.