7 Things You Required to Understand About Life Insurance Cov…

14 thoughts on “7 Things You Required to Understand About Life Insurance Cov…”

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  Let's Talk Money! with Joseph Hogue, CFA

  July 8, 2019 at 3:03 pm

  Question…At what age did you first buy life insurance❓

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  Tom

  July 8, 2019 at 3:35 pm

  My mom bought a whole life for me when I was 19 but then I sold it when I was 32. At that point, I didn’t really understand the policy.

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  Tom

  July 8, 2019 at 3:37 pm

  There is also an adjustable term life policy that adjusts yearly on someone’s birthday but the rate is lower than a normal term life policy. This policy will eventually cost more than the policy locked in for the life of the policy.

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    Let's Talk Money! with Joseph Hogue, CFA

    July 9, 2019 at 12:50 pm

    Interesting, I like it. Kind of a middle-ground between lower premium on a shorter-term but getting the longer-term protection.

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  The Shop

  July 8, 2019 at 4:02 pm

  Whole life is way more profitable. The premiums paid build cash value and earn more when the stock market goes up. I’m sure you know more about this than me but it looks like term life is the same as renting. Once the term expires all those payments are gone. Maybe I’m missing something.

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    Crazy Eddie

    July 8, 2019 at 7:21 pm

    Whole life is also more expensive so what ur building maybe the difference between term and whole life. Crunch the numbers, compare the various options then make the choice.

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    Let's Talk Money! with Joseph Hogue, CFA

    July 9, 2019 at 12:48 pm

    No, you’re right. Term life is renting but you don’t need life insurance after you’ve stopped working so you only need to pay premiums to 60 or 65. A lot of the premiums on a whole life policy go to pay agent commissions (they make HUGE money on whole life) and the rate of return on the cash value sucks. Much cheaper to pay term premiums and invest the difference yourself.

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    The Shop

    July 9, 2019 at 12:55 pm

    @Let’s Talk Money! with Joseph Hogue, CFA Never thought about it like that. Thank you Sir. Still the best financial channel on YouTube.

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  Kasey Woody

  July 10, 2019 at 3:27 am

  I honestly don’t see the point of having life insurance when I never plan to get married or have kids. Is it really for everyone?

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    Let's Talk Money! with Joseph Hogue, CFA

    July 10, 2019 at 3:18 pm

    I wouldn’t say it’s for everyone. If you have nobody depending on your income and have enough to cover burial expenses (so your family doesn’t have to) then I don’t see a reason you’d need it.

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    Kasey Woody

    July 10, 2019 at 4:36 pm

    @Let’s Talk Money! with Joseph Hogue, CFA Since we are on the subject of life insurance. What are your thoughts on the company Unum Group? With a 5% drop today I’m thinking of adding some shares to my portfolio.

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  Sandra

  July 26, 2020 at 10:00 pm

  You should do a video on R.O.P (return of premium) term insurance policy.

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  M L

  November 17, 2020 at 8:20 am

  Awesome video. Happy belated Birthday Corporal

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  Yibabe Abeba

  March 25, 2021 at 6:10 am

  You talk very fast….

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