Comments on: The benefits of term life insurance policies http://www.imoneytalks.com/2010/03/the-benefits-of-term-life-insurance-policies/ All about Money Wed, 08 Sep 2010 14:31:02 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: David H. http://www.imoneytalks.com/2010/03/the-benefits-of-term-life-insurance-policies/comment-page-1/#comment-19 David H. Sun, 07 Mar 2010 15:17:31 +0000 http://www.imoneytalks.com/2010/03/the-benefits-of-term-life-insurance-policies/#comment-19 As an insurance agent I take personal objection to the continuous implication that the only benefit to permanent insurance is my bottom line. There are several good points you make in this article concerning some of the purposes of insurance and the fact that term is the cheapest kind to buy. However, you don't talk about other things of concern to the buyer, such as asset protection, estate building and income replacement so the family can continue living without financial devastation. Cost is certainly a legitimate concern, but so is the strength and reputation of the carrier and the ability to trust one's agent. Also, since there are so few term policy claims paid out, then chances are the money spent on the insurance is just thrown away. A good return-of-premium policy would at least give the buyer the assurance of getting his premiums back at the end of the term, and a well designed universal policy would give back not only the premiums paid, but with interest, if the policy is surrendered. There is so much advice online to point people away from not only a product which may best suit their needs, but also from the advice of professional, trained and knowledgeable agents who could help them to assess their needs and show them options which they may never know otherwise. David Hoag http://www.80-percent.com/common-objections-to-buying-life-insurance/ As an insurance agent I take personal objection to the continuous implication that the only benefit to permanent insurance is my bottom line. There are several good points you make in this article concerning some of the purposes of insurance and the fact that term is the cheapest kind to buy. However, you don’t talk about other things of concern to the buyer, such as asset protection, estate building and income replacement so the family can continue living without financial devastation. Cost is certainly a legitimate concern, but so is the strength and reputation of the carrier and the ability to trust one’s agent. Also, since there are so few term policy claims paid out, then chances are the money spent on the insurance is just thrown away. A good return-of-premium policy would at least give the buyer the assurance of getting his premiums back at the end of the term, and a well designed universal policy would give back not only the premiums paid, but with interest, if the policy is surrendered. There is so much advice online to point people away from not only a product which may best suit their needs, but also from the advice of professional, trained and knowledgeable agents who could help them to assess their needs and show them options which they may never know otherwise.

David Hoag
http://www.80-percent.com/common-objections-to-buying-life-insurance/

]]> By: How to Choose the Best Life Insurance to Meet Your Needs http://www.imoneytalks.com/2010/03/the-benefits-of-term-life-insurance-policies/comment-page-1/#comment-18 How to Choose the Best Life Insurance to Meet Your Needs Sat, 06 Mar 2010 14:49:44 +0000 http://www.imoneytalks.com/2010/03/the-benefits-of-term-life-insurance-policies/#comment-18 [...] The benefits of term life insurance policies | iMoneyTalks.com [...] [...] The benefits of term life insurance policies | iMoneyTalks.com [...]

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