Reader question:

Why should I get Houston whole life insurance?

Luke

Excellent question.

A lot of people have trouble figuring out whether or not they should get Houston whole life insurance rather than term insurance. I’m not a big fan of whole life insurance, so here are my views on that, and hopefully it will make some people think it over first.

The problem with whole life insurace is that it is basically permanent. The amount for the policy you start is decided at the very beginning of your arrangement, and you pay accordingly. No matter what happens, it never changes.

So why is that such a big deal? Well, it just doesn’t address the realities of life.

For example, most people make more money as they age (before retirment at least), so if your Houston whole life insurance amount is calculated on your current salary at, say, the age of 24, then when you are 50 it should be much more.

Also with that is that times change, and a set amount from 20 years ago might be worth a lot less as you near old age and inflation has gone up.

take care,

Fashun