Quote:
Originally Posted by El Jefe
In English por favor. I'm kidding, I really don't have a clue, to be frank, I have never researched Life insurance up until this very point. My knowledge is very minimal, I figured I would put some feelers out here, and then continue my research from there.
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I don't have it because I have no kids right now.
Term life would be like your car insurance. You pay a premium and you have insurance.
Ins. salesmen try to sell Whole Life as an investment vehicle because you can borrow against it.
If you have a wife and kids then you should have some type of insurance.
For pure value stand point people say Term in the way to go.
Maybe some others who have "whole" life can chime in here and relay their experiences.
I have a 50K policy from work and that is enough for me to pay off my debts.