Flexible Premium Adjustable Life Insurance Cash Surrender Question? - us rider insurance
My husband and I had a flexible policy of life insurance, which corresponds to a particular time. The advantage is that 50,000 U.S. dollars for himself and 35,000 U.S. dollars as an additional driver for me. We bought it as an additional security when the children were young and had bought his first house. We use to pay the premiums of $ 30 per month. We thought to take the cash value of $ 7100, because we now have two full-time jobs who have a life, the children grown and our mortgage is a point when one goes from us while the other is enough to mortgage and bills to pay without the other. Just do not know whether we should do. Will we repent? All opinions would be helpful.
Sunday, February 21, 2010
Us Rider Insurance Flexible Premium Adjustable Life Insurance Cash Surrender Question?
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A "life insurance flexible, customizable" really is a universal life insurance. Just change the words a bit to give the appearance more attractive.
ReplyDeleteIn any case, $ 30/month seems to pay for a total of $ 85,000, does not cover much, but you can have more complete coverage for the same amount for the purchase of a long-term. I do not know your age, but when both 30 years old and both had a policy of covering up 20 years of $ 100,000 (for a total of $ 200,000), which will cost around $ 30/month.
On the basis of information provided by you, your husband and you should receive a long-term insurance of 20 years, with one of you, the pilot partners. Why? You do not have a mortgage and if something happens to someone you do not want to pay the mortgage? They estimate that the coverage you have now is sufficient, but not of the opinion that the development cost of living increases each year. If he dies, is $ 35,000 for her husband enough to maintain the same lifestyle? If he dies, will receive 50,000 U.S. dollars just to maintain the same lifestyle? How long will the money ifOne of those who die?
When I was in your situation, I try to apply for the insurance within 20 years. Life insurance is something you need to qualify. Assuming both are healthy, there should be no problem getting on the life insurance business.
When I mean long-term policy, I cancel "flexible premium adjustable life insurance. Therefore, I invest in funds of $ 7100th you think your May bad time to invest in these moments, to invest but the really good time, if their pension until the age of 20 years. If the investment is to achieve an average return of 10% over the next 20 years, which may be more than $ 52,000. That is not much but at least it's something.
Without more information it is difficult to sue, too. However, the area of $ 30 per month, so why not? Ultimately, it is a cover for the funeral have, at some point. Because the issue if you before the age of 65 years die in the act is under the age of 65.
ReplyDeleteYou can also get the benefits of money.
I have already said that the second and only add that at $ 30/month certainly not difficult, and at worst, give you and your man a little bigger than the state that would otherwise have to. I noticed - the death of my father and my beautiful laws - for families with low incomes, at the time.
ReplyDeleteThere are two ways of doing things, and some questions for you.
ReplyDelete1. If you / lose / quit rent from his work, his life is still available (eg in the case of the group, you can implement a custom policy)?
2. Do you have for the transfer of property by other means? Expect a property in which his heirs would be affected in a real and / or gift tax laws?
3. Is your existing permanent life insurance? Was he worried about not having life insurance in case of sudden illness and is no longer insurable?
3a. Do you have anything to your protection, if you are sick, I for a long time before work time, and the other is enough to cover the mortgage and bills without the other is to pay more right?
You need to consider their situtation in all, not just the additional $ 30 per month. And if you and get the cash value of $ 7100, what are your plans with him? It is used to finance in retirement? Are you the funding of pension and Max? Or is the holiday?
I can not answer your question in depth in this forum without knowing all the circumstances, but I can note you a few things. Good luck to you.