Paid Life Insurance

Dilemma: Whole Life or Life Insurance?

I'm trying to get insurance for my mother through Colonial Penn. I'm so lost in this moment. If you something happens to her I want all to cover burial expenses. She is 48 with minor health problems. I have a quote of $ 60.48 Whole Life, Term Life of $ 18.45. Big difference. I've been reading that, among other things, a whole life insurance scam but I'm still confused. Can you please help me. Thanks a bunch! :

You can clearly see all of life is a scam and the fact is three times more expensive than Term Insurance. Her face because the life insurance value is based Cash and term insurance is not. But here are some other reasons of how all life is a scam: 1) The cash value is a low rate of return of 1-3%. The cash value builds up in the first two years. 2) If you want to make money, you are borrowing and paying interest on a loan of 8% 3) If your mom dies, death claim is paid to the beneficiary, but all the cash value is maintained by the insurance company. With life insurance, you are paying for two parties (insurance and money value). However, only can be recovered. You can get the cash value if you cancel the policy, but will apply cancellation charges and the insurance is canceled. You will receive a death benefit if their mother dies, but loses the cash value. With term insurance does not accumulate cash value. That's why its very cheap. Term insurance provides coverage for a temporary amount of time. At the end of the term, you may renew or cancel. If renewed, the premiums are based on the current age of your mother so it will be more expensive in the future. If your mother a 20 year level term and invest the difference of $ 42/month for the next 20 years, you can get around of $ 24,903 with a rate of 8% return. Where can you get an 8% or more in return? You can accomplish this by investing in mutual funds. This part will be difficult for you and that nobody in Colonial Penn can help you invest your money. Primerica Financial Services I use to help me invest my money. Help me find investments that meet my goals. I currently spend $ 400/month with them and I am pleased with your help. My investment has an annual average return of 12% in the last 30 years. Anyway, in 20 years, is good enough to pay $ 24,000 for funeral expenses? Even if you put $ 42/month for 20 years in a box (which gets 0% interest) you will have $ 10,080. I would not recommend to do, but my point is that you should always maintain life insurance and savings separately and can only achieve this through the purchase of term insurance. If your mother dies during the term, you get both the death benefit and all the money you saved. If he survives the term, at least you will $ 10,000 or more saved.

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