wjm@whuxl.UUCP (MITCHELL) (09/20/84)
In reply to the person who sent me a mail message (I can't reply by mail if you don't include a COMPLETE path to your system through one of the better known USENET gateways like ihnp4, houxm, decvax, ucbvax, etc.) Sure you pay for term life each year, but you pay much LESS than you would for whole life. Where do you think the insurance companies get the bread to pay those dividends?? You should compare whole life to the equivalent plan - buying term and investing the difference in premiums. Before long, the return on the investment will generate enough to pay the term premium and you'll be much further ahead than with whole life. BTW, most insurance agents I've dealt with push whole life like a pusher pushes cocaine. They HATE term (the only thing they hate more is NY Savings Bank Life Insurance -- which I recommend you investigate if you live or work in NY (or MASS which also has it) SBLI is considerably cheaper for both term and whole life, since there are no salespeople, you have to initiate the contact with the bank.). Regards, Bill Mitchell (whuxl!wjm)
mikey@trsvax.UUCP (09/25/84)
I have a Prudential whole life policy. My monthly premium is just over $30.00 Last year, after subtracting my dividends and my equity growth, I paid a net sum of $16.00 and change, for the year, for my policy. This policy is just under 6 years old. Now whole life IS more expensive to buy in the short term, but I like the advantage of a "forced" savings and having low intrest loans available. mikey at trsvax