|
  |
|
|
How to get Term Life Insurance and Build Cash Value
By John Craden
If you are looking to get life insurance you will, or may already have found that term life insurance rates are a whole lot lower than whole or universal life insurance rates. The biggest benefits to going with a whole or universal type life insurance policy is that these policies are guaranteed for your entire life and so you are guaranteed a death benefit, and these types of life insurance policies build cash value that you can borrow against or cash in on. There are 2 main reasons why people tend to choose term life insurance over whole or universal life insurance. The first is obviously money, and the second reason is that after they retire there is really no longer a need for life insurance. The good news is that you can still indirectly build cash value on a term life policy, and end up getting more cash at the end of the term than you would with a whole or universal life insurance policy. In order to get started you need to get quotes for both term and whole or universal life insurance. This quickest and most popular way to accomplish this is by getting free online quotes from online insurance brokers. After you have gotten these quotes make note of the costs for each type of insurance. What you will do is take the difference of these two costs, let's say that it is $15 a month. Now with most whole or universal life insurance policies you will build cash value at an interest rate of about 3-7% depending on a range of different factors. Most high interest investments such as mutual funds will range from 8-12%. The idea is to invest that monthly difference into this high interest account and over time this will build up a nice sum of cash for when your term is up. Let's just use an example, $15/month @ 9% for 30 years. If you invested according to the above specifications at the end of 30 years you would have $29,131.72. This is almost double what you would get if you went with a whole or universal life insurance policy. I realize that this will be hard for some of you to do but if you think about it, you will be getting life coverage for as long as you will need it, you will be investing only a small amount every month, and at the end of your life insurance term you will have a chunk of money sitting there for you. |
|
 |
|
No reactions yet.
Please login or sign up to rate this intel.
The copyright for this content entitled "How to get Term Life Insurance and Build Cash Value" has been specified by the contributor as:
Creative Commons Attribution-No Derivative Works 3.0
Details 
This content may be copied and distributed (but not modified), as long as the original author is acknowledged with a link back to the content page.
If you use this content according to the license specified, you must link to the following URL:
http://nateatkins.qondio.com/
|
|
May, 2012
2008
January, February, March, April, May, June, July, August, September, October, November, December
2009
January, February, March, April, May, June, July, August, September, October, November, December
2010
January, February, March, April, May, June, July, August, September, October, November, December
2011
January, February, March, April, May, June, July, August, September, October, November, December
2012
January, February, March, April, May
|
|
Not a member yet?
Qondio is a powerful network for making it online. If you have a website to
promote, we can help.
Sign up and get in on the action.
|
|
Welcome to Qondio! Discover the awesome power this network can deliver by going to our About page. Or you could skip straight to the Sign Up form.
|
|
