...Life Insurance...

No 30 yo gets that much for $7.

I'm not sure why you seem to have a problem with whole life. If it was such a bad product why is it still sold every day? There's a place for term and a place for whole. Why the attitude?

I dont have an attitude! I just know it is a shity product! From the way you are responding i beleive you were just misinformed, as most insurance agents/reps have been for many years. If you look at the ROI whole life sucks beyond belief. Most people dont study it including agents.

BTW these rates are not for skydivers but life insurance in general, but they aply % wise in general.

Edit to add the reason it is still sold today is becuase insurance agents (and insurance companys ) make more off these type of pollices than term life insurance.

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...what are people doing? How is the coverage? Cost? Are you covered if you bounce? I am looking into a 30 year term for my wife and I. It is a joint policy, and we both jump. Broker said we will be covered, but you know how this goes. $213.00 mo. for $250,000.00 policy. Help please.

i have never understood life insurance...its betting that you will die. how bout bet that you will live? anyway, i buy houses, not insurance. i dont like to make corporations money. even try to buy houses for mostly cash to limit the banks take. but if you must buy insurance, i have heard that term insurance is the way to go.

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...what are people doing? How is the coverage? Cost? Are you covered if you bounce? I am looking into a 30 year term for my wife and I. It is a joint policy, and we both jump. Broker said we will be covered, but you know how this goes. $213.00 mo. for $250,000.00 policy. Help please.

i have never understood life insurance...its betting that you will die. how bout bet that you will live? anyway, i buy houses, not insurance. i dont like to make corporations money. even try to buy houses for mostly cash to limit the banks take. but if you must buy insurance, i have heard that term insurance is the way to go.

Term is good for things like paying off your mortgage, fulfilling a buy/sell agreement, covering monies you owe for different things etc. Problem with term is it expires. Example...let's say your 30 years old. You buy a 30 year term $250,000 policy. You can buy a level term policy meaning your payments stay the same the whole way through, or you can buy increasing term where the premiums increase at specific intervals. If you buy a level term your payments will initially be higher than increasing term, but as you get older the increasing term will most likely surpass the premiums of level term. Either way, at age 60 you're without insurance, and nothing to show for all the $$ you've paid over the years. Kinda like leasing a car. And your premiums on a new policy at age 60 will be shockingly higher. You can buy whole life which combines a death benefit and an investment. The idea is that eventually the interest you earn on the investment side begins to pay for some or all of the monthly premium. Eventually it should mature and you won't have to make any monthly payments, and you'll have a life insurance policy with cash value that you can use as collateral.

As others have pointed out there are probably better investment engines than whole life, but you always run the risk of having those investments lose money and being worth less than what you've put in. Whole life has a guaranteed death benefit that will never decrease.

Now...let's talk about annuities

And BTW, no matter what type of insurance you buy you'll pay extra for it to cover jumping.

Term life is the way to go! Whole life sucks PERIOD! Lets use example above 30 year old gets 30 year term policy for 10-20 dollars a mounth. Whole life maybe 100-110 a mounth it does EVENTUALLY mature But the extra money for the whole life policy is invested @ a rate of like 3-5%, if you get term and invest the extra $90 in a good stock mutual fund with a good 10 year track record then you will make say 10-15 %. By the time your term policy is up you will be self insured. If an agent trys to sell you whole life then run from them cuase they are ethier stupid or misinformed!

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Term life is the way to go! Whole life sucks PERIOD! Lets use example above 30 year old gets 30 year term policy for 10-20 dollars a mounth. Whole life maybe 100-110 a mounth it does EVENTUALLY mature But the extra money for the whole life policy is invested @ a rate of like 3-5%, if you get term and invest the extra $90 in a good stock mutual fund with a good 10 year track record then you will make say 10-15 %. By the time your term policy is up you will be self insured. If an agent trys to sell you whole life then run from them cuase they are ethier stupid or misinformed!

you must listen to Dave Ramsey, the finacial radio host out of Nashville, he is on XM. i totally agree with investing the remaining amount on my own, I have always...yes 100%, done better with my investments managing them myself, then handing them over to a desk jockey.

but then again, i run my overhead very low. the only payments i have are mortgages, which are paid by tenants. people run to close to bankruptcy ALL the time, and have no emergency fund set up. my wife is a realtor, and someone actually came in the office yesterday and said "i want to pull the remaining equity out of my house, and then walk away." this is fraud, plain and simple. the person was driving a brand new car. damn this pisses me off, ...but ahhh... i digress.

I am a Dave Ramsey listner!!!!!!!! That is where alot of my info comes from. I am almost a detfree skydiver! Go figure