I recently had my car damaged by hail and I have comprehensivr coverage. My insurance company had an adjuster do the estimate and his estimate is 100% lower than 3 other estimated I had done (some ...
My aunt has a whole life policy $10k on her and one for her husband for $10k - $25/month with $4k in the cash value account
They are in their early 50's Additional Details W...
but we are getting reinstated agin I am a little bite of insevure because we are really young and I always get concern that some people get advantage of us for being too youn it has happen. Now ...
I went to my ObGyn for blood work (it was to check my progesterone levels etc for fertiliity). I've had blood work done before & never had a problem with claim being paid. When I received ...
I get my license tomorow and my dad was planning on letting me use his car Friday. His insurance covers the driver of the car, but then other insurance policys are saying that I need to be under the ...
health) on his life insurance policy purchased last year. He said it doesn't matter, like it was a non-event. I think it does matter. Should we contact our agent and let him know? Couldn't ...
if tyou add something like an Expensive DSLR or a Iphone to your homeowners policy does it cover damages? Other than your if your house burnds down or something.....say like dropping it?...
I have BCBS of Michigan. I pay $135.00 PER WK. Is this out of the ordinary? This covers me and my daughter.I am divorced and have to carry health insurance on my daughter. I only make $18.00 an hr. I...
one of the worst ideas ever. If a sales agent is proposing this to you, you should report him to the Better Business Bureau. This is NOT in your best interest at all and not at all an ethical recommendation from an agent.
LifeInsuranceAgent
I would run in the opposite direction. This is the latest insurance selling technique by the "bottom feeders" of the world designed to generate big commissions for the agents on the ill informed concept that they can turn your equity which you werent going to use into a much larger asset for your beneficiaries. A lot of them tout how the setup can be designed to bypass probate and pass tax free to heirs, etc..Look out!!!
Gerry
This is a terrible idea. For one, unless you lied to your lender, I don't think they would release more funds to you for investing in your own death. Depending on your age, you could release the equity in your home to secure a second property and use the rental income to invest in a life insurance policy. I'm not a huge fan of life insurance, as the money wil never be yours. Unless you expect to die young or expect to have a lot of debt when you die that you don't want to leave to loved ones, then I suggest you use the released equity to purchase an income producing asset that will give you money when you are alive rather than when you are dead.
insuranceguytx
Ask yourself - and ask the person proposing this plan to you to show you - on paper - where you are better off borrowing the equity from your home to put the money in a life insurance policy.
You will have to pay interest on the home equity debt against your house. Are you GUARANTEED to earn more in the life insurance policy than you pay on the mortgage debt?
Mrsdonmar
I would put the money in annuity. You can earn interest alot faster and it still be like an insurance. Good Luck
barryfl
could be one of the worst ideas i have ever heard.
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