life insurance?

Answer 1

Is it that thing where if you die and you come back to life?? lol

If it's not, then why it's called life insurance? Life insurance is really income protection. You die, your beneficiaries get a death benefit. It replaces your income in case you die.

Now a days, companies are trying to sell it as an investment plan than a death benefit plan. They know you going to cancel the policy when you retire and then you going to take the cash value that didn't build much value. Are you going to happy with $50,000 cash value at age 62? That might last you just one year. Then what's going to happen after that? You are broke and need to go back to work. Consider investing in retirement plans such as 401k or Individual Retirement Accounts.

Answer 2

There are 2 types of life insurance: term which means temporary and permanet means for life.

Both are good but they are for different situations.

Term is cheap in the beginning but it gets very costly after the 10th year. The policy will expire at a certain point. You rent the covrage like you would rent a apartment.

Permanent is a little more expensive but the more you put into it grows ona tax deferred basis and grows in cash value that you can access tax free as long as you and your agent set it up properly. Once the premium you put in meets the cash value account you can stop paying, which usually happens in about 10 to 20 years. You still have the policy for the rest of your life up to age 100. Should you live to be age 100 most companies bring you the death benefit. So perm insuarance is like owning your home and getting equity out it. Its a great way to build weath within your family.

Get the insurance from someone who is willing to educate you about the purpose of it, the process, and the payoff.

Answer 3

Here are three sites that discuss life insurance and what to get. It is usually better to buy TERM life insurance. Most insurance agents will try to sell you whole life or universal life which gets them larger commissions.

Answer 4

There's no insurance in life

Answer 5

Its a economic risk cover by a death.

Simply, if a person dies the dependents loose the money earned by the person that is dead. Life Insurance covers that loss only.

Need of life insurance can only be enjoyed, by the survivors. How paradoxical!!!!!

Answer 6

Yes: I have life insurance.

Answer 7

What is the question?

Answer 8

make your own idea

Answer 9

what about it?