life insurance

PowerON

PowerON

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I thought I saw somewhere when I need to read the information from all of your opinion. So, I decide to create the thread that is specs for life insurance in finances. Hope that's right place.

I'm start to concern about my life that sometime I think I need to take responsible of myself when I die and who will take care of thing include funeral. I would hate that someone would pay for me to cover up.

So anyway, what's good thing I should choice on what type of package to pay? Any assure on cost month is normally for being age 30s? The quote I receive is about $34 a month... forever for my life. *shurg* They also mention that fund would be more than normal I except. Is that good or isn't what I should?
 
If you mean whole life, that is probably good. That is when you pay up a policy and then you can cash it in later.

If you are only worried about burial expenses, you can buy term life and you just get a payout when you die. It doesn't have any value later.
 
Yes, whole life and I would want to include the burial expenses without have anyone worry about spend on cheap one which still expensive. heh

I find it odd when I ask someone who say that shouldn't need insurance because govt would take care of debt. I puzzle and I felt it's wrong. What do you think?
 
Whole life is a bad investment. Term life is the way to go.
 
My brother is the sole benefactor of my funds but he doesn't know that. ssssshhhh

I'm sure he'll inherit enough fund to pay for my cremation service. it shouldn't be that expensive.
 
Jiro said:
My brother is the sole benefactor of my funds but he doesn't know that. ssssshhhh

I'm sure he'll inherit enough fund to pay for my cremation service. it shouldn't be that expensive.
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so, when I decide to get life insurance and don't need to tell someone that they will get from me but zip up? I think that's good idea than give them a greedy face. I think? haha but I know that sound pretty evil or something.
 
PowerON said:
so, when I decide to get life insurance and don't need to tell someone that they will get from me but zip up? I think that's good idea than give them a greedy face. I think? haha but I know that sound pretty evil or something.
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:)

that's up to you. I was required to put in name as benefactor so I put my brother in the list. I will change it when I get married.
 
PowerON said:
Can you explain? I can understand part that it may be waste but be reasonable, please.
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correct me if I'm wrong but Term Life Insurance is cheaper and simpler. You pay at fixed rate for a certain period of time. The benefactor will get paid upon your death.

Whole Life is complicated and expensive.
 
Jiro said:
:)

that's up to you. I was required to put in name as benefactor so I put my brother in the list. I will change it when I get married.
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of course, I can see that I would able to change whatever that led me to decide.
 
Jiro said:
correct me if I'm wrong but Term Life Insurance is cheaper and simpler. You pay at fixed rate for a certain period of time. The benefactor will get paid upon your death.

Whole Life is complicated and expensive.
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hmm, i'm not sure about it. Maybe I mistook on what package I think it was premium life or something. It's little confuse for me and I'm try to get thing straight on what I would like. yda yada
 
PowerON said:
of course, I can see that I would able to change whatever that led me to decide.
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yup! you can do whatever you want. I set mine to be split 50% to my brother and 50% to my mom. That, of course, will be changed when I get married. Should I tell a wife about this? :hmm:
 
PowerON said:
hmm, i'm not sure about it. Maybe I mistook on what package I think it was premium life or something. It's little confuse for me and I'm try to get thing straight on what I would like. yda yada
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you didn't sign up for it yet, right?
 
Jiro said:
My brother is the sole benefactor of my funds but he doesn't know that. ssssshhhh

I'm sure he'll inherit enough fund to pay for my cremation service. it shouldn't be that expensive.
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I am trying to invent a home cremation kit!

My dad's funeral was ridiculously expensive. Cremation is the way to go. I plan to be cremated.....of course when I die there is a good chance they will never find the body:lol:
 
Do people still go to a mortuary or crematorium and prepay for those expenses?
 
You're making it sound like you're buying life insurance before committing suicide so that your benefactor gets your payout. :(
 
VamPyroX said:
You're making it sound like you're buying life insurance before committing suicide so that your benefactor gets your payout. :(
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Really? Well, he'd have to wait at least 2 years to do that.
 
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