am a financial advisor that sells whole life and term life, usually whole life to business owners who understand how to use the product effectively for getting tax free dollars out of there business. When I work with families, it is usually a mix of term and whole life. But I would challenge anyone in the world to show me a place where my clients could put money to grow on a tax-deferred basis, take tax free withdrawls on earnings and pay no penalties before age 59.5 and get insurance on top
im 22 and i have life insurance. unless u have $10,000 saved up for ur burial in case u die, and even more for possible medical expenses, ur setting ur family members up for a sad carwash..... truth.
hey yuppymoney. i recently consulted with a life-insurance agent and he practically laughed at me when i told him i wanted to get life insurance at age 20. like you said in your video, it's so cheap for me and i can afford it, so why not start now, you know? he explained to me that since i don't have any dependents and am not married, i won't need to think about it for another 10 years. what do you think? i want to start cheap because i am on a budget.
Thinking about LI at a young age is not a bad thing. The older one gets, the less healthy they generally they become, the more expensive LI gets. Buying early can make a world of difference. If your on a tight budget get a small term LI. LI comes in big numbers, so don't let a 300K to 500K policy scare you. Make sure you get a disability waver and make sure the policy is convertible to Permanent LI, just in case you want to convert in the future. These options are a few bucks more.
am a financial advisor that sells whole life and term life, usually whole life to business owners who understand how to use the product effectively for getting tax free dollars out of there business. When I work with families, it is usually a mix of term and whole life. But I would challenge anyone in the world to show me a place where my clients could put money to grow on a tax-deferred basis, take tax free withdrawls on earnings and pay no penalties before age 59.5 and get insurance on top
prospersbc 3 years ago
im 22 and i have life insurance. unless u have $10,000 saved up for ur burial in case u die, and even more for possible medical expenses, ur setting ur family members up for a sad carwash..... truth.
tiffernando 3 years ago
hey yuppymoney. i recently consulted with a life-insurance agent and he practically laughed at me when i told him i wanted to get life insurance at age 20. like you said in your video, it's so cheap for me and i can afford it, so why not start now, you know? he explained to me that since i don't have any dependents and am not married, i won't need to think about it for another 10 years. what do you think? i want to start cheap because i am on a budget.
eunicetjahjadi 3 years ago
it depends on what your motivation is for life insurance - if there are people in your life now that you want to leave money to, then go for it.
yuppymoney 3 years ago
Thinking about LI at a young age is not a bad thing. The older one gets, the less healthy they generally they become, the more expensive LI gets. Buying early can make a world of difference. If your on a tight budget get a small term LI. LI comes in big numbers, so don't let a 300K to 500K policy scare you. Make sure you get a disability waver and make sure the policy is convertible to Permanent LI, just in case you want to convert in the future. These options are a few bucks more.
wodendog 3 years ago