Just wondering how many people have some type of life insurance. Term or Life.
2007-01-20 11:05:55 · 12 answers · asked by jojo 1 in Business & Finance ➔ Insurance
I have a 30 year term with $150,000 coverage and bought it at age 24. I pay about $300/year for it.
2007-01-21 15:05:09 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I do have life insurance, which I believe is called universal life. The beneficiary is our "living trust" for the benefit of my wife and only child. The policy is designed to pay off our home mortgage in the event of my passing. However, it has turned out to be a good investment also. After 20 years, it has a significant cash value. I have also borrowed against that cash value.
2007-01-20 11:15:26 · answer #2 · answered by Blu 3 · 0⤊ 0⤋
Term IS life. I have term insurance. DH has term insurance. No insurance on the kids - we believe it's a waste of money.
Many of the folks on this board are insurance people, so I think you're going to get a disproportional bunch of insured people.
2007-01-20 12:10:33 · answer #3 · answered by Anonymous 7 · 0⤊ 0⤋
Straight term. universal life is a crock that destroys families. You never really own the savings part, so if you die, your family does not get the savings part. The cost of the ins goes up and though your payment does not it borrows from the savings side to make up the difference. You can borrow against it but you never may take it all.
2007-01-21 05:12:16 · answer #4 · answered by ♥monamarie♥ 5 · 0⤊ 0⤋
Yes, I have both term and whole life policies as does my husband. And we have a whole life policy on our child. On top of that I also have a term policy through work for myself, husband, and child - free of charge.
2007-01-21 04:17:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I have a few policies. One from work, one Term policy to cover mortgage in case I die young, and one Variable life policy for when I grow old.
2007-01-20 11:14:30 · answer #6 · answered by David R 2 · 0⤊ 0⤋
Yes, term.
2007-01-20 13:13:18 · answer #7 · answered by Bam Bam M 2 · 0⤊ 0⤋
20 year term for me, variable universal life policies for my children
2007-01-20 12:41:21 · answer #8 · answered by ChCh01 2 · 0⤊ 0⤋
Yes- I have employer and private. My mortgage even has a life cover for me- So well covered.
2007-01-20 12:56:51 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Yes, free of charge and offered by my company.
2007-01-20 11:19:14 · answer #10 · answered by Mariposa 7 · 0⤊ 0⤋