10/25/2019
Whole life insurance is what most insurance companies will try to sell you. It's expensive and it's one of the worst financial products sold. I ONLY recommend term life insurance. Why? You get the same amount of coverage for about 5% of the price of a whole life policy. A term policy lasts for a set number of years, or term, thus the name (We recommend you buy 15-20) and you pay a low rate each month for the coverage you need.
During the 15-20 year term, if you follow our plan 3, things will happen:
1. Your kids will grow up and leave.
2. You will payoff all debt, even your mortgage (remember no more than a 15yr mortgage)
3. You will save and invest at least 15% of your income.
So you are 20 years older with no kids to feed, no debt and hundreds of thousands of dollars in retirementā¦..you are setā¦.if you die with no life insurance, your spouse will be just fine. The only person who thinks you need insurance is your whole life agent who wants to get a commission your whole life.
Quit throwing your money away just because a sales person tried to convince you of something. Think for yourself and get the coverage you need, not the policy that someone making a commission wants to sell you on.
Find out more information about the term insurance that I recommend: http://bit.ly/32qajlR
šØRemember, if you currently have whole life insurance, but are thinking of switching, DONāT cancel it UNTIL you've got your new term policy in place! Be safe, and be smart about something like this.