Life insurance question?

Question

If someone were to get life insurance in their twenties, how would that benefit them later in life when their old?

Answer 1

Life insurance is basically financial protection for loved ones. If a person in good health buys a 25- or 30-year term life insurance in their twenties, it will most likely be cheaper than if they were to buy in their thirties or forties. Age is not the only factor in cost -- life style, family, stability, health or other risk factors are considered as well. Don't even think about whole life insurance -- you will almost certainly get better returns if you invest the cost difference between whole life and term life in an index fund over a 25- or 30-year period.

Answer 2

If you have ever read your life insurance policy, only to have more questions than when you began, you are not alone. What does it all mean? Incontestability clause, exclusions and such, just make a person want to get to the bottom of the question... will the company pay the policy off when I die?



What is a life insurance policy anyway?



A life insurance policy is a legal contract between the person who buys the policy (called the insured) and the company that issued to policy (called the insurer). It will pay cash to a stated beneficiary when the insured dies. When a person first applies for life insurance, they are asked a series of questions to see if they qualify for the type of insurance they are applying for. Afterward, they are given a Conditional Receipt which is a temporary insurance policy while the application is in the underwriting department and waiting for results for any exams that were ordered. This receipt may be used in case of death occurs before the actual policy is delivered, so make sure your agent reviews this with you.



Once the policy is issued and the agent reviews the kind of policy issued and what's included, he or she will explain the terms of the policy. Since a life insurance policy is a legal contract, there are some provisions or terms contained in it that you should know about. Some important ones are:

to know more click here......

Answer 3

To be honest, when speaking of life insurance, you are thinking about your loved ones. These are the people you want to help for the near future- pay off house, debts, and college for kids. As each of these milestones are met, you can drop that amount from the face amount, thereby paying less each month in premiums. You take that savings and put it into a well managed mutual fund. By doing so, you are preparing yourself for the distant future- when you retire.



Life insurance should be called income insurance because that is what you are actually protecting. Your agent should be looking out for you and your family's benefit and not his own pocket, ie commission. If he/she can't place you into a better future than another agent could, don't use that first one.

Answer 4

It is very beneficial for someone in their twenties to purchase life insurance, since the premiums will be much lower than if you wait until you are older. Premiums escalate in relation to the age of person at time of purchase.

The best way to buy life insurance at your age is to buy a ROP Term policy (Return of Premium).

Let's say you pick a ROP Term for 30 years and at the end of the 30 years you are still living, you would receive a lump payment for the premiums paid over those 30 years. So basically you would be getting your money back to do whatever you wanted to do with the funds.

I offer this to all my younger clients who are looking for an alternative to basic term insurance.

Answer 5

Well I have to say, if you have a need for it ( married,children, mortgage, debts, and little money), because right now your young, many responsiblities, and little money it is to protect your family from the loss of your income, not as a way to leave your family money. Stocks, mutual funds, and real estate can do that for you. Also term most term policies do renew annually, some renew or convert to whole life or permanent life after 3 - 10 years, the term policies I provide for my clients do NOT convert to anything other than another term policy if needed and the premium is guarteed level for the whole term not for a short period of time. The policy I own is a 25 level term that the premium is level for 25 years NOT 1 - 10 years. When you get older as long as you invest money into your short term and long term investments you may not need as much or any coverage at ALL.

Answer 6

Wrong question. The ACTUAL question should be, what are my financial needs and goals? Which type of life insurance policy fits these needs and goals?



Just like you don't buy a table saw at Home Depot now, in case you might need it 30 years from now . . . you don't buy the policy now, in hopes that 30 years from now, you'll have some financial goal it might meet.



Pick the goal first, THEN find the best product to acheive the goal at the lowest cost.





**btw, term is NOT only good for one year. You can pick the length of the policy when you first buy it. *I* have a 20 year term policy. And I think 1 year term is kinda dumb. After all, is your GOAL going to disappear in one year? Likely not.**

Answer 7

Compare quotes for free at - INSURERATESNOW.INFO-



RE Life insurance question?



If someone were to get life insurance in their twenties, how would that benefit them later in life when their old?

Answer 8

You can get quotes in just a few minutes at http://RATESCOMPARE.INFO/qadwmDK054



RE Life insurance question?



If someone were to get life insurance in their twenties, how would that benefit them later in life when their old?

Answer 9

Get insurance quotes

Answer 10

Life insurance protects assets or creates assets for the future. Depending on the policy and your needs, you can get money back in the future or have money go to anyone you want. This is true if you die or even if you live long enough to outlive your policy.

Answer 11

Most people buy term insurance. It's good for one year only. The policy *might* have a clause giving you the right to renew it each year.



There is also Whole Life. It's partly insurance and partly an investment vehicle. I don't buy insurance to get an investment so you can guess my opinion of it.

Answer 12

Life insurance is not intended for your benefit. It is for the benefit of those that depend on you for support.

Answer 13

There are several insurance sites to compare quotes but I have found this very helpful: http://WWW.INSURANCE-QUOTING.NET

Answer 14

There is a HUGE benifit.



Get a whole-life plan when you are young and the monthly payment is super low, and you will reap the savings later in life.

Answer 15

I would recommend someone to try this sitee w here you can compare quotees coming from different businesses in the area for frree. https://tr.im/N5k13

Answer 16

This site can help you finding the best deal in your area: QUOTES-FOR-INSURANCE.NET