quannairono
2 posts
Oct 30, 2009
7:27 PM
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Howdy,
I'm thirty years old. I have been considering purchasing a life assurance and when I started doing the research, I'm faced with the dilemma of choosing between Term life vs full life.
Here are my thoughts on this
a ) I understand that life insurance is not like retirement plan so I am going to save enough for my retirement so myself and my dependants can live happily after I retire. At about that point, myself and my partner both work so we hope to save enough for retirement. Having declared this, I think I'd go for a term life insurance for 30 years from now just in case something sudden happens to me between now and 60 years old. Beyond 60 years, if something were to happen, our pension funds, hopefully, can help us.
I understand if nothing happens to me from now until 60 years, I wont get anything from the insurance ( I want to approve if this is the same with all companies who offer term life assurance ) ?
b ) The other thought is whole life is I'm absolutely covered until the end of my life. Naturally, the premium would be higher and fixed. There is also some savings part to it which I think I will be able to get when I withdraw the policy.
c ) Or, should i go for Term life assurance now but then change to full life at some particular point between now and 60 years old ?
Any advise is appreciated.
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update : This company had some actually great advice when I spoke them and highly suggest it USA TermLife Experts
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