Comments on: Life Insurance Options When Times are Tough

By: Robert

Robert — Fri, 18 Sep 2009 19:41:55 +0000

I think one of the best options is term life insurance. It’s cheap and provides protection to people when they need it most–while they’re paying off their home and their children are dependent.

By: Hadley

Hadley — Wed, 18 Mar 2009 19:36:56 +0000

I think more people should learn about the benefits of term life insurance, especially in these tough economic times.

You can usually get alot more life insurance buying a term life plan, than you can for the same money buying permanent life insurance.

And, since most of us save some money by the time we’re 60, you can buy a 30 year term policy and have the protection you need, while you need ti, without paying too much. Then just invest the difference from what you would have paid for a permanent life insuranc epolicy.

By: Rob

Rob — Wed, 18 Mar 2009 18:10:57 +0000

I have actually found the opposite for some reason. The places that have given me free rate quotes have actually been preferring the permanent plans, maybe as part of their long term strategies coming out of this recession. Maybe someone here can shed some light on the issue. I am 25, single, and healthy- any reasons why I may be finding these anomalies in the system?

By: Melanie

Melanie — Wed, 18 Mar 2009 18:07:10 +0000

This is very interesting. I have been interested in the comparison benefits of permanent vs. Term life insurance. I am concerned that purchasing a term policy now may be good for a while, but will ultimately cost me more than if I invest in a solid permanent policy. I have gotten free rate quotes from a few different sources, and it looks like term is cheaper now, but may increase in a few years. For something as long term as life insurance I want the best solution over my life time- not just right now.