Comments on: Is Cash Value A Train Wreck Waiting To Happen? http://hinermangroup.com/blog/2008/09/05/is-cash-value-a-train-wreck-waiting-to-happen/ The Agency You Can Trust In Life Sat, 20 Mar 2010 07:42:22 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: David http://hinermangroup.com/blog/2008/09/05/is-cash-value-a-train-wreck-waiting-to-happen/comment-page-1/#comment-22792 David Thu, 23 Oct 2008 23:27:22 +0000 http://hinermangroup.com/blog/?p=876#comment-22792 It's sound advise to have your cash value life insurance policy looked at by another set of eyes, but be careful that the new eyes sole focus isn't to sell you a new insurance policy. Although in some instances it might be better to change policies, many times it is not. Make sure you trust the new set of eyes. Remember, money does funny things to people, and sometimes make a trusted friend give you bad advise, especially if there is something in it for them. Also, "don't buy cash value life insurance" is a bit of an oversimplification. For many it doesn't make sense for budgetary reasons. But everyone needs life insurance for a different reason. Since term rarely pays out, most of that money is lost, never to be seen again. If you need insurance to pay out when you die(young or old), cash value is the only one that make sense. If they are done properly, and with discipline(don't tap into cash value), they work well for many families and businesses, and will be there when needed most. It’s sound advise to have your cash value life insurance policy looked at by another set of eyes, but be careful that the new eyes sole focus isn’t to sell you a new insurance policy. Although in some instances it might be better to change policies, many times it is not. Make sure you trust the new set of eyes. Remember, money does funny things to people, and sometimes make a trusted friend give you bad advise, especially if there is something in it for them.

Also, “don’t buy cash value life insurance” is a bit of an oversimplification. For many it doesn’t make sense for budgetary reasons. But everyone needs life insurance for a different reason. Since term rarely pays out, most of that money is lost, never to be seen again. If you need insurance to pay out when you die(young or old), cash value is the only one that make sense. If they are done properly, and with discipline(don’t tap into cash value), they work well for many families and businesses, and will be there when needed most.

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