Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: vawahoo Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 294  
Subject: Life Insurance vs Investments Date: 6/23/2002 10:13 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
My father is age 62 and due to serious back problems retired early from the government at age 55. He still has a mortgage of $123,000. on a home valued between $325,000-$375,000(values based on recent sales in neighborhood). 6 years ago we took out a $350,000.00 Term Life Insurance Policy on him to cover the mortgage and to provide some "extra" money for my mother. He pays approx. $6,500.00/year for the policy because he smokes pipes, and has a few health issues. My question is: with 14 years left on the insurance policy would it be better to continue to pay $6,500/yr or should he either lower the policy amount and invest the difference, or just cancel the policy and invest the $6,500.00 for the next 14 years? Granted, he could pass away within the next 14 years and the policy would be the best bet, but he's like a bull and we believe he will outlive the policy. Any input would be appreciated. Thanks.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement