Is term better than cash value? or vice versa?

I don't know, which cholesterol medication is the best?

We know nothing about you or your goals. Generalized and generic advice is usually worth what you pay for it.

As any financial expert would say, term insurance is the best. Why is that?

1) Very low rate per unit (unit = $1,000 coverage)
2) Gives you freedom to save money wherever you want such as bank accounts, mutual funds, retirement accounts, education funds, etc.
3) Lets you rent wealth (term insurance) while accumulating wealth (investing the difference).

I would be careful when someone advise you to buy a very short term policy such as 1 year, 5 year, and even 10 year term. These policies are very very cheap in the beginning, but when you renew it over time, it becomes very expensive. You should buy long term policies such as 20 year, 30 year, or even 35 year because you are going to need that much time to build wealth. I highly suggest you invest in mutual funds because they are professionally managed and the manager has only one goal in mind, which is long term growth.

Buy term and invest the balance in mutual funds.

Cash Value is not a good investment vehicle.


period.

end of story.

LEVEL TERM!!!!!!

Never buy insurance combined with an investment. You will pay more and get poorer performance.

Basically some people say purchase a term life insurance policy and invest the difference for your retirement or your kids college funds, etc. The problem is that some people's good intentions about investing that money never happens or they choose the wrong type of investment vehicles then before you know it 10 or 15 years have gone by and they are left with a term premium they can no longer afford (most term life premiums are only guaranteed for the first 10 years) and virtually no retirement investment, mortgage payment fund or college fund. In addition no one can guarantee that you might not become disabled therefore losing your income and ability to save--you can purchase a disability waiver on most life policies to provide that your premium payments & therefore you policy is continued if you are disabled due to illness or accident.

??Also note that with a Universal Life Policy you can borrow from the built up cash value and if you have been declared to have a terminal illness you can collect up to half of the face value from the insurance company (if your policy has a special endorsement attached) or you can have a viatical company purchase the policy from you.
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?My advice to most of my clients--buy a good Universal Insurance policy with a term rider so that you have all your bases covered and enjoy every day of your life--you deserve it!?


Good Luck

Never combine your life insurance with your investments. Get term insurance.

Term is the best value. What you are buying is the actual insurance. What the insurances salesperson is going to try to sell you is Whole Life because they make a ton of commission. Stick with Term. Don't ever buy investments from an insurance company.

Life and disability insurance