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The Life Insurance Policy and Its Best Kept Secret comfortably on retirement savings and social security. On the surface and to the naive, this might appear reasonable. It's relatively easy to blow holes in this hypothesis, but let's focus instead on the real problem with this scenario. We are living longer ... much longer ... than ever before. We may not be enjoying it very much due to poor health but, nevertheless, we're hanging on. Life insurance companies know this better than anyone. In fact, most of them now use age 115 has a factor when calculating life insurance policy premiums. You hear about retirees who are forced to find work at McDonald's or Walmart. Have you ever joined a seniors chat room on the Internet and witnessed the concerns most of them have about running out of money before they die? Many of these seniors are frightened to death. And this is before we even consider the babyboomers right behind them. An intelligently purchased life insurance policy can be the saving grace for those you love the most. Now, let me set the record straight. I have nothing against term life insurance. Over the past 24 years I've personally sold millions of dollars worth. What bothers me ... and what I believe to be criminal ... is when term life insurance is sold under false pretenses. Let's use a simple example. A 35 year old nonsmoking male in excellent health can buy a $500,000 term life insurance policy for about $700 per year. The premium is guaranteed to be $700 « Previous Page « » Discuss it » Continue Reading »
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