Author Topic: When should you stop getting life insurance?  (Read 2423 times)

Offline ChaimMoskowitz

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When should you stop getting life insurance?
« on: March 17, 2015, 06:47:21 PM »
?
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Offline yos9694

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Re: When should you stop getting life insurance?
« Reply #1 on: March 17, 2015, 07:32:16 PM »
After you die, the ROI is negative so its not a good deal

Offline ChaimMoskowitz

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Re: When should you stop getting life insurance?
« Reply #2 on: March 17, 2015, 07:35:05 PM »
It is a worse deal when you are alive. They are betting you will live and you are betting you will die. Better hope you are wrong.  :)
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Offline Lou Bob

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Re: When should you stop getting life insurance?
« Reply #3 on: March 17, 2015, 07:36:12 PM »
?
+/-
No number, so no explanation needed  ;D
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Offline dealfinder85

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Re: When should you stop getting life insurance?
« Reply #4 on: March 18, 2015, 09:15:28 AM »
?
when you dont need to support others and you have enough to support yourself?

Offline noturbizniss

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Re: When should you stop getting life insurance?
« Reply #5 on: March 18, 2015, 09:42:21 AM »
Regardless of other considerations, my final line for cancelling life insurance is when I have confirmed immortality.
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Offline ChaimMoskowitz

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Re: When should you stop getting life insurance?
« Reply #6 on: March 18, 2015, 09:48:32 AM »
I was thinking sometime in your 50's when everything is pretty much set.
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Offline jj1000

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Re: When should you stop getting life insurance?
« Reply #7 on: March 18, 2015, 09:49:27 AM »
When you have $10mil in the bank? :)
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Offline coralsnake

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Re: When should you stop getting life insurance?
« Reply #8 on: March 18, 2015, 09:50:25 AM »
when you dont need to support others and you have enough to support yourself?
When nobody is relying on you to support them. Supporting yourself is irrelevant since when you die you need no support. Aside, of course, for a small fund for burial related expenses.
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Offline Achas Veachas

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Re: When should you stop getting life insurance?
« Reply #9 on: March 18, 2015, 09:54:47 AM »
Basically, when you retire, if done properly, you should have all the money you'll need for the rest of your life. From that point and on, you should have no need for life insurance.

Offline ChaimMoskowitz

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Re: When should you stop getting life insurance?
« Reply #10 on: March 18, 2015, 09:56:28 AM »
Basically, when you retire, if done properly, you should have all the money you'll need for the rest of your life. From that point and on, you should have no need for life insurance.
What if you have a WL policy with good returns?
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Offline hvaces42

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Re: When should you stop getting life insurance?
« Reply #11 on: March 18, 2015, 09:56:34 AM »
I was thinking sometime in your 50's when everything is pretty much set.
And what if its not?
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Offline ChaimMoskowitz

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Re: When should you stop getting life insurance?
« Reply #12 on: March 18, 2015, 09:57:41 AM »
And what if its not?
Then have bigger problems than life insurance.  :)
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Offline hvaces42

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Re: When should you stop getting life insurance?
« Reply #13 on: March 18, 2015, 09:58:33 AM »
What if you have a WL policy with good returns?
No such thing. All WL are projected returns and they never materialize.
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Offline hvaces42

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Re: When should you stop getting life insurance?
« Reply #14 on: March 18, 2015, 09:58:56 AM »
Then have bigger problems than life insurance.  :)
Couldnt have said it better myself.
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Offline ChaimMoskowitz

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Re: When should you stop getting life insurance?
« Reply #15 on: March 18, 2015, 09:59:48 AM »
No such thing. All WL are projected returns and they never materialize.
There are guarantees to some WL policies.
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Offline coralsnake

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Re: When should you stop getting life insurance?
« Reply #16 on: March 18, 2015, 10:00:30 AM »
What if you have a WL policy with good returns?
Despite what most insurance agents will try to tell you, it's not usually a good idea to tie your investments to your LI policy.

Unfortunately, most people don't have the discipline to invest properly when they are not "required to" by a WL policy.
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Offline ChaimMoskowitz

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Re: When should you stop getting life insurance?
« Reply #17 on: March 18, 2015, 10:06:24 AM »
Despite what most insurance agents will try to tell you, it's not usually a good idea to tie your investments to your LI policy.

Unfortunately, most people don't have the discipline to invest properly when they are not "required to" by a WL policy.
The mistake was made over 30 years ago. Now say your policy is increasing over 5% with no premiums due. Would you cash it in?
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Offline coralsnake

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Re: When should you stop getting life insurance?
« Reply #18 on: March 18, 2015, 10:10:03 AM »
The mistake was made over 30 years ago. Now say your policy is increasing over 5% with no premiums due. Would you cash it in?
There are many other factors that need to be evaluated including alternative investment vehicles.
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Offline ChaimMoskowitz

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Re: When should you stop getting life insurance?
« Reply #19 on: March 18, 2015, 10:13:32 AM »
There are many other factors that need to be evaluated including alternative investment vehicles.
If you have a no risk one that pays 5%+ I am all ears.
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