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(04-28-2014 09:09 PM)gobaseline Wrote:  Careful of that Universal policy. Unless things have changed drastically UL is driven by the market. Market up? You are in Phat City. Market down? You're in Flat City. Personally, I would not recommend mixing equities into your life insurance. But I understand the appeal.

A dividend driven whole life policy from a strong Mutual company is always superior.

Do you have a rider to purchase add'l insurance without proof of "insurability"? In otherwords, when the kids come along and you feel you need more because you will need more what assurance do you have that you wont have to pass a physical and not be rated?

You are correct about the cost of insurance. But it isnt any more in a whole life policy or term for that matter. But it is the one factor that increases every year regardless, guaranteed. The morbity cost is a constant based on acturarial tables. So as your cost goes up (guaranteed) any return in or outside of the policy gets diminished. IMO it is always best to get it as early as feasible when costs are lower.

Because you have UL through work I'm confident that it is portable. That's good. You don't want that benie to evaporate because someone else made a decision that impacts you.

Best of luck.

Yeah, it's ridiculously cheap - and portable - at the moment. Like under $250/year for more than enough to pay off our house and still leave the other person with a few years' income - for the two of us.

That'll all have to be carefully looked at come kiddos, for sure.

I never thought of life insurance as an investment. It is just risk management.

In the younger and mid years, the truth is you are not going to die. But there is a small risk. You join with others in a pool, buy term, share the risk, pay a small premium, someone in the pool does die and their family collect from the jointly contributed sum of money. You all get peace of mind and some freedom from worry.

Don't mix your metaphors. Cover your risk as cheap as you can, put your investment money elsewhere.

Don't be fooled into thinking the same money can do two things, it doesn't work that way.