Comments on: Buying Term Life Insurance, Part II http://www.fivecentnickel.com/2005/09/02/buying-term-life-insurance-part-ii/ personal finance tips, tricks, and commentary Tue, 14 Feb 2012 01:20:12 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Fia Velasco http://www.fivecentnickel.com/2005/09/02/buying-term-life-insurance-part-ii/comment-page-1/#comment-229052 Fia Velasco Mon, 06 Jun 2011 23:02:04 +0000 http://www.fivecentnickel.com/?p=149#comment-229052 Hi Nickel Why did you decide to buy Term Life Insurance? Term is a waste of money. Did your agent tell you that after the Term, it is renewable but it will be a lot expensive - not 2x, 3x, or 10x expensive! It would be around 100x more expensive. For your young age, you are paying a lot for that Term. There is only 2 kinds of insurance Term and Permanent. Think of Term as renting a house and Permanent as buying a house. Term doesn't have and will never have equity. Term vs. Permanent: Term 1)Low cost (initially), 2)Cost goes up, 3)No equity, 4)Coverage ends / Permanent 1)Higher cost (initially), 2)Cost remains level, 3) Builds equity, 4)Coverage never ends. I got a permanent life when I was in my 40s and paying $282.00/month but not all that goes to the cost of insurance, it goes to my cash value part of the insurance earning 6%-12% interest. I used to work with a bank as a teller but now I changed career, still in the financial industry. I am learning a lot with this new career and I don't have to go and spend so much on education. This career showed me how to really really save money (like the rich and very rich who have/retain/hire financial advisors), showed me the tools/vehicle where I can put my money to fight the 2 biggest enemy of money - inflation and taxation. I wish I knew this company when I first came here to America at age 19. If you want to know more about insurance or how to save the way rich people do, Email me. Hi Nickel
Why did you decide to buy Term Life Insurance? Term is a waste of money. Did your agent tell you that after the Term, it is renewable but it will be a lot expensive – not 2x, 3x, or 10x expensive! It would be around 100x more expensive. For your young age, you are paying a lot for that Term. There is only 2 kinds of insurance Term and Permanent. Think of Term as renting a house and Permanent as buying a house. Term doesn’t have and will never have equity. Term vs. Permanent: Term 1)Low cost (initially), 2)Cost goes up, 3)No equity, 4)Coverage ends / Permanent 1)Higher cost (initially), 2)Cost remains level, 3) Builds equity, 4)Coverage never ends. I got a permanent life when I was in my 40s and paying $282.00/month but not all that goes to the cost of insurance, it goes to my cash value part of the insurance earning 6%-12% interest. I used to work with a bank as a teller but now I changed career, still in the financial industry. I am learning a lot with this new career and I don’t have to go and spend so much on education. This career showed me how to really really save money (like the rich and very rich who have/retain/hire financial advisors), showed me the tools/vehicle where I can put my money to fight the 2 biggest enemy of money – inflation and taxation. I wish I knew this company when I first came here to America at age 19. If you want to know more about insurance or how to save the way rich people do, Email me.

]]> By: John Fagan http://www.fivecentnickel.com/2005/09/02/buying-term-life-insurance-part-ii/comment-page-1/#comment-134098 John Fagan Wed, 12 Aug 2009 17:01:22 +0000 http://www.fivecentnickel.com/?p=149#comment-134098 Hey Nickel, Since you have been involved since 2005, has this been a great business for you or do you have several different "things" working? Hey Nickel,

Since you have been involved since 2005, has this been a great business for you or do you have several different “things” working?

]]> By: nickel http://www.fivecentnickel.com/2005/09/02/buying-term-life-insurance-part-ii/comment-page-1/#comment-478 nickel Sun, 04 Sep 2005 18:11:30 +0000 http://www.fivecentnickel.com/?p=149#comment-478 Thanks for the positive vibes, guys. Thanks for the positive vibes, guys.

]]> By: Blaine Moore http://www.fivecentnickel.com/2005/09/02/buying-term-life-insurance-part-ii/comment-page-1/#comment-468 Blaine Moore Fri, 02 Sep 2005 15:14:37 +0000 http://www.fivecentnickel.com/?p=149#comment-468 Good luck; I'd prefer that you make it until you have life insurance, or even a bit farther. This site would get a bit stale without you, is my guess! ;) Good luck; I’d prefer that you make it until you have life insurance, or even a bit farther. This site would get a bit stale without you, is my guess! ;)

]]> By: FMF http://www.fivecentnickel.com/2005/09/02/buying-term-life-insurance-part-ii/comment-page-1/#comment-464 FMF Fri, 02 Sep 2005 14:49:22 +0000 http://www.fivecentnickel.com/?p=149#comment-464 You should be fine. If you're in your 30's, the chances of you croaking any time soon is pretty low. ;-) You should be fine. If you’re in your 30’s, the chances of you croaking any time soon is pretty low. ;-)

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