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"Life Insurance and Financial Planning Lies That Just Won't Die"

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Entries Tagged as 'whole life'

7 Myths About Cash Value Life Insurance That Just Won’t Die

The necessity of life insurance today is based around the idea of a family with one or both spouses working outside of the home, and that if one of them dies, the other will be left with financial obligations that will not be able to be met. Life insurance is supposed to fill that gap.

This is where the agreement between financial professionals ends abruptly, because the next question that arises is: OK, so what kind of life insurance should people buy? The debate between which is better – term or cash value/permanent life insurance – is seemingly a “never ending battle”. For many various reasons, many investment houses, stock brokers, mutual fund managers (and the agents who sell their funds), as well as many popular financial “gurus” like Suze Orman, Ric Edleman, and Dave Ramsey presumably (according to their many published books and comments on national radio and television) hate cash value life insurance…

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What Type of Life Insurance Is “The Best?”

I hear this question asked ALL THE TIME. Most insurance agents sell term insurance, and most investment professionals are OK with that. I myself can count on one hand the instances in which term insurance makes sense for most people:

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Life Insurance In Plain English

Life insurance is one of the most important financial products that you’ll ever purchase. It’s so important that I often hang up on people when they demand that I give them a life insurance quote or sell them a policy without teaching them at least a little bit about how various types of contracts work. [...]

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Whole Life Insurance & The Theory Of Decreasing Responsibility

The theory of decreasing responsibility is a theory in financial planning which basically says that you should purchase enough life insurance to meet your financial responsibilities and no more and that those financial responsibilities will decrease as you become older. Therefore, your need for life insurance is temporary. Would you agree with that statement, in [...]

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Whole Life Insurance vs Term Life Insurance vs Universal Life Insurance

Since I keep getting emails and comments on the blog about this, I thought I should devote (yet) another post to this topic. It never seems to get old, which is OK. I could go on proving my point until the cows come home. I love my work. I especially love my work now that [...]

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