Life Insurance: Do you have it ? How old were you when you start paying for it ? Try AIL?
I was 21. Since I started paying in to it @ 21, my fam would be left w/ approx $40 000 after my death. I wonder if I'll have a fam by then... Right now I have no husband or kids so right now I'm thinking that it'd be split b/w my Mom & sis's & my niece. (She's only 3 mos old & I love her so so so so MUCH :D ) Oh, but it'd cover the cost of the funeral too. Anyone w/ AIL ? It's a good life insurance plan. If you get hurt, & have to go to the hospital, they pay x amount of $s. If you become terminally ill, you can take half of it out & go on a trip or something. (Or are all Insurance companies like that ?) I'm doing this cuz I wanna be responsible & leave my fam something if something should happen to me. If it's not just my Mom, sis's & niece, then my husband, kid(s) & Mom, w/ some to leave to my sis's & niece ? Depends on what happens down the road !!! I think if you go to www.ail.com you can find some info there. I'm only paying $30 a mo :)
i am a retired Independent Insurance Broker for life & health insurance and also a retired CPA & CFP & LUTCF who helped people for over 30 yrs- congratulations to you for being so responsible and starting a plan at an early age- i bought my first policy from NY LIFE at age 24 after leaving the US army and getting married- DONT BUY A FUNERAL POLICY-THEY ARE NOT A GOOD DEAL--LIFE INSURANCE IS BUYING DOLLARS FOR PENNIES ON THE DOLLAR--YOU HAVE 40,000 WORTH OF PROTECTION FOR 30 A MONTH--THAT IS LESS THAN .001 CENTS PER DOLLAR PER MONTH- THE BEST VALUE YOU CAN GET ANYWHERE- BUYING DOLLARS FOR PENNIES FOR YOUR LOVED ONES--KEEP YOUR POLICY & REMEMBER TO ADD YOUR NIECE AS A BENEFICIARY TO YOUR POLICY IF SHE IS ONLY 3 MOS OLD AND YOU WANT HER TO HAVE SOME OF YOUR PROCEEDS IN THE EVENT OF YOUR DEMISE--IN 23 YRS IN LIFE INS--I ONLY HAD ONE DEATH CLAIM FROM CANCER !! LIVE LONG AND PROSPER ( STAR TREK )-- KEEP YOUR POLICY AND GOOD LUCK TO YOU- YOU ARE A VERY RESPONSIBLE AND CARING YOUNG WOMAN AND SHOULD BE PROUD OF YOURSELF--SOME YOUNG MAN WILL BE VERY LUCKY TO HAVE YOU AS HIS BRIDE !!!any other ??- holler back at me--good luck to you....
Whole life, universal life, and variable life steals your cash value when you die. And if you want to use it, you have to borrow it and owe 5-8% interest on it!
Buy Term And invest the difference into Traditional/Roth IRA, both grow tax-deferred and have higher rate of return than cash value! Report It
YOU SHOULD KEEP IT, IT WILL ONLY COST MORE AS YOU GET OLDER & BY THEN YOU CAN LEAVE TO WHOM EVER!!! GOOD LUCK
Stop paying this...insurance is only gambling and the only winner is the insurance company... they deal in fear and make millions....f..k em all
You should have it. i started paying for it at 21 too, worth every penny if you know what i mean, even though YOU'LL never see a penny of it. Well done for thinking of others in the event of death, i'm sure a lot of people don't.
One thing you can do that will pay for itself is to go to a funeral home and buy a pre-paid funeral plan. You can pay by the month over five years or more (mine is only $43/month and will be paid up this year). It locks in the price of the funeral at this year's price, and you can pick one that covers everything, pick it all out yourself so they don't have to, and it won't cost your family anything. Most are even moveable - if you move to another city, a funeral home there will honor the plan.
My mom had one, and it was the best thing - I wasn't really ready to make those decisions, but she had already made them all, including the music and everything, so all we had to do was show up.
I pay 40 doollar a month since i was oneyear old. You should keep your insurance because it will pay later. Life insurance is there to help someone that you know so do it.
I'm 20 years old , and I started paying for it like more than a year ago . I pay $100 for my insurance, and I'm not thinking of changing it.