Quote:
Originally Posted by Ashleywatson
Life insurance is often used as an investment for retirement planning. Basic life insurance can be divided into two general categories, term insurance and whole life insurance. When you buy term insurance, you pay premiums in exchange for a death benefit over a specified period of time. This is the least expensive type of life insurance. Because the death benefit is all that you get with term insurance, it's never sold as an investment
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Hi Ashley,
What about for retirement planning. I'm in the same position as JBRIGHT; I'm 23 and live a healthy lifestyle. I have older parents who are not currently dependent on me but within the next 10 years may become finincially dependent on me. How would it benefit me through the years as well as in old age and death? From what you've said so far it's also more expensive, least initially I'm assuming.