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« Anyone Buy Physical Assets? | Main | Problems with Traditional Financial Planning »

February 09, 2010

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Are you sure that TERM insurance has these payout options?

MasterPo has never seen such payout options for TERM insurance. Whole life (including Universal) - yes. But TERM?

:-/

I question your initial statement "Term Life Insurance is the best kind of life insurance today" Certainly term life can be the least expensive and may be good choice, for those on a fixed budget. However there are many other issues to consider when seeking life protection. This is exactly why those seeking to protect their family or assets should talk to a qualified agent to discuss all the variables and purchase protection that will best fit their needs.

Great article. Most don't plan how the proceeds will be used until someone dies.

Most term products allow for some type of payment options (annuity) and if not you can take the proceeds and buy an annuity if you want one.

Term Insurance may be the right product for most but it well worth the time to consider how the benefits will be paid.

You may want to sit down with the beneficiaries so they know as well.

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