Author:
John (Get the facts straight!)
|
[
Next Thread |
Previous Thread |
Next Message |
Previous Message
]
Date Posted: 04:58:27 02/14/09 Sat
Author Host/IP: 71.104.160.80
To begin with, the premium on a 20 year term policy by Primerica DOES NOT INCREASE annually. Read the fine print, with whatever company sells you any type of life insurance. The premium on Primerica's 20 year term policy stays level for the 20 years. Then if you need to keep some insurance as you still haven't paid off the house and want to make sure that if you kick the bucket your better half doesn't have to worry about it, the premium would be higher per unit because you're OLDER!! That's true no matter where you buy your insurance. But you probably won't need as much coverage as maybe the house is paid off and maybe the kids have grown up and moved out(hopefully). Age, sex and the amount of coverage that you want are the things that determine your premium.
Going to your next mistake. With your permanent life policy, you DO not have a savings! What do I mean??? The money in that account---YOUR life policy---is NOT yours! What am I talking about? I must be crazy! Well try this. Why do you have to BORROW the money if it's yours? Because it's NOT yours!! It belongs to the insurance company. Oh yeah, and since you are BORROWING the money, you have to pay it back WITH INTEREST!! But why do you have to pay back YOUR OWN SAVINGS AND PAY INTEREST ON IT? Because it WAS NOT YOURS!! With a term policy for the same coverage your premium would be much lower. Then you could very well, IF YOU CAN CONTROL YOURSELF, invest it FOR YOURSELF in whatever you want: CD's, savings accts., bonds, stocks, mutual funds, properties, etc. In those cases, the money IS YOURS!!! Then you can TAKE the money out whenever you please. AND you do NOT have to pay it back to anybody nor do you have to pay any interest on it as it was YOUR OWN money!! By the way, when you take some money out of the "savings", you are decreasing your coverage. So, you have a $50,000 policy and you take out $8,000 from your "savings". You die, get killed or commit suicide. Your beneficary will only receive $42,000 LESS any interest that's accrued since the day you took the money from YOUR "savings".
Like I said, man. Read deeper into something, and "get the facts straight!"
John
PS I had $25,000 whole life on my wife, $25,000 whole life on myself, and $10,000 whole life on each of my 2 kids. It was costing about $1,200/year. Primerica replaced it with $75k on my wife and myself each and $10k on each of the kids, and the premium was only $643.00---about half as much for another $100,000 coverage! By the way, if we had any more kids, they would automaticly be covered for $10,000 each, and the premium would not change!! Beat that one.
I now have over $200,000 in mutual funds for my retirement. Thank you, Primerica!
[
Next Thread |
Previous Thread |
Next Message |
Previous Message
]
|
Feedback: 