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Forum
-> Household Management
-> Finances
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amother
OP
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 Tue, Aug 03 2021, 6:32 pm
I have term life for a 10 year term, and Im paying a few thousands a year for a million dollar policy. Renewing after 10 years is not affordable.
Ive heard that Whole Life (that goes forever), is way way way more expensive for much less coverage.
What are the advantages of paying outrageous premiums for way smaller policies, just so that it goes on forever, but policy value is way way way less?
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amother
Lightgray
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Tue, Aug 03 2021, 6:36 pm
What is the purpose of the life insurance?
Will you still have single children?
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amother
OP
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Tue, Aug 03 2021, 6:54 pm
| amother [ Lightgray ] wrote: | What is the purpose of the life insurance?
Will you still have single children? |
Its the marrieds who need money much more than the single.
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amother
Diamond
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Tue, Aug 03 2021, 7:02 pm
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You don’t have to get whole life. You can get universal which is cheaper than WL but it’s not term- it’s inforce as long as you pay the premium
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