Should Keep or Look into term Life Insurance Quotes?
I have a whole life policy which I have been paying 45.00 per month for 16 yrs. I have to pay this amount until age 99 so they say. The amount it was for when I bought it was 50,000. It builds cash value. I am now 62. Should I keep this policy or look into term insurance? billie 11:00 pm on September 25, 2009 Permalink We have no idea. What’s the GOAL of the insurance policy? At 62, I’m assuming you have no minor children. If you have enough assets that your estate can pay for your funeral and cover your debts, why do you have insurance in the first place? You need to define the exact GOAL the the insurance is to acheive, and THEN decide which policy meets that goal best. That includes, deciding how LONG you want to keep life insurance. If you never see a time when you don’t need it, then whole life is the one to have. Having said that, whenever you are shopping out for new insurance, or comparing prices, you do NOT want to let your current policy lapse, until your NEW policy is alread
