http://www.bankaholic.com/finance/when-is-permanent-insurance-really-necessary/ Blogging about personal finance, foreclosures, mortgages, interest rates, and budgeting. Wed, 18 Nov 2009 03:45:46 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.bankaholic.com/finance/when-is-permanent-insurance-really-necessary/comment-page-1/#comment-20230 Paul Hertz Tue, 07 Apr 2009 00:19:28 +0000 http://www.bankaholic.com/finance/when-is-permanent-insurance-really-necessary/#comment-20230 This post has a large hole in its information. Most term policies have a renewable clause that allows renewal without a physical or even a new medical history. Thus, properly purchased term policies may provide a lifetime of protection (until around 70) after that the amount should cover burial, etc. expenses. The estate reasoning given for permanent life insurance is mainly for estates over $5,000,000. If you have $5,000,000 by all means buy a permanent policy. In addition, no mention is made of the huge reductions in term policy premiums over the past 20 years due to COMPETITION ! This post has a large hole in its information. Most term policies have a renewable clause that allows renewal without a physical or even a new medical history. Thus, properly purchased term policies may provide a lifetime of protection (until around 70) after that the amount should cover burial, etc. expenses. The estate reasoning given for permanent life insurance is mainly for estates over $5,000,000. If you have $5,000,000 by all means buy a permanent policy.
In addition, no mention is made of the huge reductions in term policy premiums over the past 20 years due to COMPETITION !

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