AgTalk Home
AgTalk Home
Search Forums | Classifieds (61) | Skins | Language
You are logged in as a guest. ( logon | register )

Life insurance
View previous thread :: View next thread
   Forums List -> Kitchen TableMessage format
 
Boone & Crockett
Posted 3/9/2021 10:26 (#8881764 - in reply to #8881695)
Subject: RE: Life insurance


timis - 3/9/2021 09:41

Well time for the annual review. Life insurance agent keeps pushing to upgrade parts of our term policies to whole life. He does every year. I had always been taught that if you buy term till you’re retirement age you should be, debt free, have enough savings/retirement to live off of and put you in the ground. I know plans aren’t always what you make them to be, but when I look at the cost of going to whole like on 125k, it’s the almost as much as my 1/2 million term policy. Yes there is a benefit if you end up in the nursing home- but what is a 125k policy going to be worth in 2050? Maybe the equivalent of 20k today? He’s talking roughly $400/month for both the wife and I - if I put that in an ira it would be roughly 500k.

I’m 37, just thinking he’s trying to make us insurance poor - I have 2 term policies that would pay off the farmland debt and a hog building debt, which should leave wife about 250k extra and an income of 90k a year off the barn and farm rent. We have 4 kids, ages 15-4.[/QUOTEAs long as the term covers you long enough to guarantee the last paragraph comes to fruition, she will be fine. Stay the course.
Top of the page Bottom of the page


Jump to forum :
Search this forum
Printer friendly version
E-mail a link to this thread

(Delete cookies)