Life Insurance

[Resolute 14]

Being as I am nearly 29, I figured it might be worth looking into. So, for those that know, who is the best company to go with, and which is better? a term-life plan or a permanent plan? What kind of premium would I be looking at as a male non-smoker?

[Sylvanfan]

You need to talk with a Financial Planner to determine exactly what your needs are from the Life Insurance before you decide what to do. How much coverage do you need, what do you need it for, will you need to adjust it within 5 years. Things like that can affect what type of coverage you should opt for. If you don't have any real specific needs, ie. you're single with no dependents, and just need it to pay off any final expenses than buying term insurance will likely be your best bet.

[troutman]

If Slava was not in Omaha, he would have good advice for you. PM Slava next week.

[Resolute 14]

Stupid Omaha...

I'll do that!

[macker]

If you are looking for basic term insurance go to www.winquote.net or http://www.kanetix.ca and you can work out the lowest premium. For most people term insurance is the way to go. Buy term and invest the difference elsewhere. Agents make a lot more commission on UL or whole life policies but for most people these plans aren't the best bang for their buck. Unless you are maximizing your RRSP's don't even worry about UL as an option. A UL policy was once explained to me as being like a bath tub without the plug in it with the water running.....you have to put a lot into it to get anything out of it.....there are a lot of fee's and expenses that most agents aren't as likely to point out. These are just my opinions and you should also google life insurance needs analysis or consult a INDEPENDENT financial advisor. Good luck!

[Slava]

Originally Posted by Resolute 14

Stupid Omaha...

I'll do that!

I haven't left for Omaha yet actually...although I leave in the middle of the night, so PM me and I'll be back on Monday/Tuesday and be happy to help out!