young people can really benefit with Whole Life compared to older adults. The cost of premium insurance is substantially lower for the youth where a 30k policy would cost a toodler less then $15 at the most expensive pricing compared to a $60 premium with 30k coverage of whole life. The cash value once the young adult becomes a 65 year old, the value will increase 30%.
Facts about whole life and tips on how to treat the product
*Understand the difference between whole life, term and universal. If you don’t understand it do not invest in it until you do fully understand what to expect and how to treat the asset.
*Create a account solely for investment products and savings. Create a pro-folio that is tailored for your desired goals. Someone who is older would not benefit from a life insurance policy compared to a toodler or child or young adult. If you wanted to get a G5 Jet in 10 years, its not likely to be done using life insurance as the vehicle to obtaining a G5. You will be in a better position using annuities or mutual funds. Research the vehicles and choose a broker you trust has the experience, has your best interest in mind and understands your goals.
For more information dealing with life insurance call today for more info (404)723-3940 Timothy Williams the finance guy, Green Star Financial Services helping your money grow