Good stuff from one year ago today:
- Insurance and Investing: Buy Term and Invest the Difference - Highly debated, but I'm still in favor of this -- it's worked for me!
- How to Cut Down on Household Expenses - More money saving ideas.
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Indeed I am a proponent of using Term Life insurance especially if you can attach within a retirement account which effectively means you can conceivably pay your life insurance from pre-tax dollars which basically reduces the cost of the insurance as a whole.
Whole-of-life policies can be very costly and complicated, I know of many companies which will charge backend fees if you break a whole-of-life policy early. For example if you took out a 30 year contract and for whatever reason you need to break it at 20, the firm will charge you 10 years worth of expenses that it would have recieved had you kept going till the end of the 30 year term ... nasty stuff.
Posted by: BigBuddha | January 28, 2007 at 11:40 PM