Death Insurance

Let's call it what is really is - You don't get a dime as long as you are alive with a couple exceptions. Death Insurance provides a financial safety net for your benefactor if you die, maybe more so if your death is untimely or premature.

With improvements in food preparation, auto safety, science and medicine, people are living much longer than they used to. This has made 30 and even 40 year term life insurance very attractive.

Many of the life insurance policies sold today are cash value policies. A cash value policy is an insurance product that packages insurance and savings together. Do not invest money in life insurance; the returns are very low. Don't believe rosy life insurance projections by an agent.

Whole or universal life policies are not without some advantages. But much of the savings you finally build up after high fees and capped performance for years don't go to your family upon your death. The only benefit paid to your family is the face value of the policy. In most instances, the insurance company gets to keep the cash value, a major feature you were sold on in the first place.

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