No matter who you live with or how young they are, life insurance is only a retarded spending leak just like cigarettes and tobacco.

When the life insurance policy is deliver, you are basically been given 30 days to read and agree to the contract NOT the time when you applied for a life insurance via application or medical examination.

When you signed that you receive your life insurance policy and have not return the policy within 30 days limit. You have agreed to the contract.

Every client by law are given the 30 days to return the life insurance policy if they don't agree to it contract.

I can only point out the pro and con in whole life.

Based upon my conscience, I can tell that whole life insurance and other cash life policy are tricky and difficult protection. The behavior and the valued are spell in the life insurance policy.

What most people don't know about life insurance policy is this, when writing the application. You aren't given the whole "contract" until after the policy is deliver to your door. The whole "contract" is never mentioned during the time you apply.

It is done in the past by life insurance agent to deceived, duped, bribed, and mislead clients through high premium life insurance like whole life.

When the person is paying $100 a month on life insurance for 12 months. Basically, the life insurance agent's commission will be based upon the first year of life insurance.

For example, if the life insurance agent is 75% commission rate. The agent sold a $1,200 a year whole life policy. He made $900.

Think about it. $900 is lot of money.

Every "cheap" term life insurance ads that show the "CHEAP" on a 50 years old are basically using the 10 years term qoutes.

10 years term is cheaper than 15, 20, 20, and 30 years because it cost less in the rising expense, if something happen during that time it can update the premium after renewing it, it locked the premium (paying the same monthly premium without increase or decrease), etc.

Life insurance agent are paid based upon their commission rate and your total monthly premium.

Standard are people with no health problems that reduce life expectancy but does have some weight or simple cholestrol issues.

Substantial are for people who does smoke, race motorcycle, jump from a plane, drugs, heart problems, etc… It is the life insurance company's determination to find out the final premium.

Term life insurance agent aren't equipped to give a qoute on health problems, jump from plane, motorcycle, and drugs. They do will take smoking as an calculation of the premium.

There is 3 rate in term insurance, preferred, standard, and substantial.

Preferred is the cheapest rate in term life insurance. It is harder and more suitable to people who is "slim" and with low Cholestrol.

If you want a term life insurance that is cheaper, you going to need to get a 10 years term life insurance. You have to renew your life insurance every 10 years. It may not be a big deal and it is cheaper than a 15, 20, 25, and 30 years policy.

When applying for a preferred rate in term life insurance, the life insurance will send a medical examiner to check for the ususal weight and height. There is a collestrol that take into the factor regardless if you are normal health.

They can called you non-preferred IF your collestrol is above than usual.

Lower your collestrol, DON'T EAT anything before the medical examiner arrive for your preferred test.

If you are a missionaries or any minister that are planning on going to foriegn countries, DON'T… I say DON'T admit that you are going to countries because you will be RATED 4 X. It is best if you apply earlier than departure.

Variable annuity that is offering guranteed that if the market goes against you, will give a small minumum % each year. When the market goes back up, you can get a 12% or more depending on the market.

Variable annuity can be a hook on mutual fund platform.

When you died, there is a small takeout for mortality and there is a income tax because it is a cash based policy.

The income tax for all cash based policy is the same rate if you invested in mutual fund. (30%+ rate)

If YOU REALLY REALLY want cash based life insurance, don't get variable life insurance.

Get VARIABLE ANNUINTY, you want something that doesn't invest in the company itself but in a mutual fund style platform. You get 12% or more depending on the market, that is WAY more than 2-4% on variable life insurance.

Today, companies are offering guranteed in variable annuity where you don't have to lose money if the market fall below than what it is invested.

One more things…

You can get tax on whole life, universal, and variable life insurance because it is cash based.

In term life insurance, the tax man will called it 100% tax free and they don't acquired income tax on these earning.

Don't put your life insurance in a bank's safety box, it isn't wise when come to dying and passing inheritance. You would made the bank to wait on court, making life insurance in limbo should it be found in the safety box.

Renewable term life insurance is more expensive than simple term life insurance, I can guaranteed you that.

What HowCast failed to mentioned, you can get a cheaper term life insurance if you quit smoking and become slimmer.

You would become a preferred rate if your health is normal and follow the guildline of the weight and height without smoking.

Whole life, universal life, and variable life are bad because you don't collect within 2 years and like I said gain about 2-4% annually.

HowCast, I am a life insurance agent and I called your advice for Whole Life NOVICE especially when you don't know what it say on the contract.

Whole Life Insurance only give about 2-4% on credit but the cost is $100 or more per month.

HowCast has lost my respect for financial advice.