View these videos:
Whole Life vs Term
http://www.youtube.com/watch?v=yQZ1285SkgY&feature=related
Susie Orman – Life Insurance
http://www.youtube.com/watch?v=sGDgYLCpnDo&feature=related
Term vs Cash Value Life Insurance
http://www.youtube.com/watch?v=7zGRDIVKUh4
Learn the truths about life insurance from the experts....and don't let your so called trusted and sincere insurance salesmen and women con you anymore. The truth revealed.
ReplyDeleteFrom the video I learned that wholelife insurance has 4 major disadvantges.
ReplyDelete1.in the first 2 years there is no cash value and if there is , it is miserable.
2.If you need money you have to borrow your OWN MONEY and PAY HIGHER INTEREST ON YOUR OWN MONEY to the company than the company pays you, so the return is negative
3.when you die you lose the cash value. The death benefit is what your beneficiary will receive. The cash value you built up goes back to the life insurance company.
4.wholelife insurance is the biggest scam. The insurance agents receive a fat commission from the premium you pay.
With BTITD you get big coverage for less money. Big coverage is what you need when you are bringing up the family. When you are old BIG MONEY is what you need...and let the H&S take care of the big ticket medical expenses, if they arise.