Category Archives: Life Insurance

Why the Type of Life Insurance you Buy Doesn’t Matter

For a lot of people who are shopping for life insurance, one of the first questions they ask themselves is, “what type of life insurance should I buy?” This question usually ends with some form of “whole life” or “term life,” as though those are the only two options. That’s the wrong way to thinkContinue Reading

When Calculating Life Insurance You Are Replacing Two Incomes!

Purchasing life insurance is a bigger discussion than just replacing one income…sometimes you have to replace two! Over the years I have watched a lot of my favorite personal finance bloggers talk about calculating life insurance need, and I never understood why their calculations only take into account replacing one income.  Two recent posts onContinue Reading

Create Your Own Pension Using Whole Life Insurance

In order to fully understand this post I am going to have to ask you to put down your $19.95 Suze Orman book or shut off your podcast of Dave Ramsey – and give me a chance to describe and illustrate how to create your own Pension Using Whole Life Insurance before leaving me commentsContinue Reading

Buying Life Insurance on a Child Part Two

I received an interesting e-mail in response ot my post about buying life insurance on a child.  In that post, my basic contention was that if someone isn’t able to work because of a loss of child, why wouldn’t they insure the child’s life so that one can grieve without the worry of working?  The e-mailerContinue Reading

Buying Life Insurance on a Child’s Life

Warning this post might be considered too morbid for some people. I had an interesting conversation the other week with one of the financial planners in my office that got me thinking.  There was a client who was in the midst of buying life insurance on a young child (about 5 years old), I hadContinue Reading

Give Whole Life Insurance a Fair Comparison – Get Illustrations and Compare!

I hope this post doesn’t end up on one of my favorite blogs, Bad Money Advice, but I wanted to actually compare some numbers for people.  Everyone, and I mean everyone tells you to stay the hell away from Whole Life Insurance, I think the main concerns are fees, lack of clarity, and evil insuranceContinue Reading