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Everything posted by SilentWorld
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No. This is just wrong.
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I provided you a link saying exactly that, so I don’t know why you’re calling it “disingenuous.”
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I'm surprised that you're pushing back so much on this (going as far as to call that other dude a liar). I thought it was common knowledge that insurance salesmen get paid on commission and are considered to be one step above used car salesmen (or below depending on who you're asking) . Here you go: In general, whole life insurance is a TERRIBLE idea if there's any possibility you will cancel the policy in the short term (if you cancel in the short term there are significant fees that pretty much eat up the whole value of the policy)... pretty bad if you might cancel the policy in the medium term (if you cancel after 10 years, you'll basically get your principal back)... and borderline ok* if you 100% know you'll keep the policy for 20+ years. The main benefits of a whole life policy are tax sheltered growth, and the fact that life insurance payouts are not subject to estate tax. So, for very wealthy people, whole life goes from being "borderline ok" to a pretty good idea. *Whole life is a bundled product -- life insurance PLUS an investment product. When I say it's borderline ok, what I mean is this: After 20 years, you'll end up with a cash value roughly about the same as if you had taken your premiums SUBTRACTED the premiums of a term 20 life insurance policy and invested the remainder in bonds. So... when I say it's borderline ok, that's ONLY true if you actually want/need life insurance. If you don't need/want it, then you'd be better off investing the cost of the premium elsewhere. My sister bought whole life on her freaking baby! What a stupid idea! Why does a baby need life insurance.
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NPR: Getting To Know The DSA
SilentWorld replied to Massdriver's topic in The Political Re-Education Camp
“Both sides” -
NPR: Getting To Know The DSA
SilentWorld replied to Massdriver's topic in The Political Re-Education Camp
I wonder why no one mentions Argentina. -
The Kavanaugh Confirmation Charade Thread
SilentWorld replied to Commissar SFLUFAN's topic in The Political Re-Education Camp
How long ago I had some bad marks on my credit but like it goes away after 7 years.