Ask the Dolans: Should I keep my insurance policy into retirement?
Filed under: Insurance, Retire, The Dolans
Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.
Click here to ask Ken and Daria your question.
Having life insurance is sort of like that TV show, The Price is Right: The winner in the insurance game is the one who comes closest to meeting their exact life insurance needs without going over. So, how do you know how much you need -- and how long do you need it for?
This question gets trickier to answer as you enter retirement. Check out our video response below to learn what criteria you need to consider when making this important decision.
Dear Ken and Daria,
I have a life insurance policy through work that will end when I retire soon. I say we still need the insurance, but my husband disagrees. What do you suggest?
-Flo
Taking care of your life insurance needs is a critical part of your financial plan. Start with Ken and Daria's worksheet on Dolans.com to make sure you're getting the right coverage.
Reader Comments (Page 1 of 1)
9-03-2008 @ 10:53PM
Arsalan said...
There is a lot of common points to recognise when you're thinking of life insurance. When you're trying to understand condition life insurance, you would like to be sure that you realize the basic principle of however these type of life insurance works. That way, you are able to be perfectly sure that you've decided the correct case of life insurance for you.
http://www.jumplifeinsurance.co.uk
Reply
10-15-2008 @ 6:07PM
bb said...
We use ourwhole life insurance as a tool for production. Just because premiums are high doesn't mean that it cannot be used to produce wealth.
The financial product is the backbone of our financial plan. We can access the cash value whenever we want, it earns a rate of return, and is protected from lawsuits. Can a 401k do that? No.
If you know how to use this product, it can boost you towards the goal of financial freedom.
Reply
10-15-2008 @ 6:12PM
bb said...
You can find out more at http://www.choose-financial-freedom.com.
We also conducted an interview with R. Nelson Nash at http://www.choose-financial-freedom.com/nelson-nash.html. He is the creator of the Infinite Banking Concept and can show you how to use dividend paying whole life insurance as a living benefit.
10-26-2008 @ 9:56AM
nat said...
I would like to know what is cash surrender?
Reply