cromoIntomy
1 post
Oct 29, 2009
7:15 AM
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Howdy,
I'm 30 years of age. I have been considering purchasing a life assurance and when I started doing the analysis, I am faced with the dilemma of choosing between Term life vs full life.
Here are my thoughts on this
a ) I understand that life assurance is not like retirement plan so I'm 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 spouse both work so we hope to save enough for retirement. Having said this, I believe I would go for a term life insurance for thirty years from now just in case something unexpected happens to me between now and 60 years old. Beyond 60 years, if something were to occur, our pension funds, hopefully, can help us.
I understand if nothing happens to me from now till sixty years, I wont get anything from the insurance ( I would like to approve if this is the same with all corporations who offer term life assurance ) ?
b ) The other thought is entire life is I am completely covered until the end of my life. Naturally, the premium would be higher and fixed. There is also some savings component to it which I believe I will be able to get when I withdraw the policy.
c ) Or, should I go for Term life insurance now but then change to full life at some specific point between now and sixty years of age ?
Any advise is appreciated.
answer With Quote
update : This company had some really great recommendation when I spoke them and highly advocate it TermLife Experts
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