Whole vs. Term Life Insurance

-- David compares whole and term life insurance
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#pakmanfinance #lifeinsurance #wholevsterm

[kingjamesuil]

Absolutely loving this whole channel and all of the content you've put out on it. Thank you for doing this!

[sylviahoffman]

Thank you for the explanation on the difference of the 2 types of life insurance. It sounds a bit tricky to calculate how to do the term and investing, but I understand the principle.

[WaskiSquirrel]

You have good advice. When I was young and dumb, I was talked into a whole life insurance policy as a savings vehicle for an eventual house. It definitely didn't work out that way and I will never make that mistake again!

[victoriavass]

Great video. Love this channel. Thank you, David.

[Insightfill]

"Individuals who depend on your income"

This is why "life insurance on your kids" is a weird thing. But: getting it on a SAH parent (short term) might not be a bad idea since you'd be strapped if they passed.

[Insightfill]

My beef with "whole life" is that the combining of features obfuscates the actual value of the separate pieces. It's very easy to compare annuities, term policies, and even mutual funds. Mix them together and you confuse comparison shopping.

[steveevelyn]

Making money is an action. Keeping money is behavior. Growing money is knowledge...

[tommyboym]

For whole life what happens to the cash value when you die? Oh, they keep it and only give your heirs the death benefit?

[wilsonspat]

Will you be covering Sam banknam fried ?

[nakfoor]

My girlfriend's dad started a whole life insurance policy for her when she was a baby. Then he withdrew the money that he could when she was a teen for his own use.

[piere]

Term life actually insured against the loss of your life. Whole life is more of an alternative investment product that you buy once all your other savings vehicles are exhausted. Whole is a product you can borrow against tax free so when in retirement it’s kind of like your liquidity pool that earns 5% and pays a large dividend (assuming you use a company like Northwestern Mutual, which would pay the policy premium). It’s also a pool of capital you can use to make other investments that yield higher—real estate, stocks, businesses, etc.

[genghisgalahad]

What about Universal Life? Or Indexed Universal Life Insurance? That's the missing piece here that's "best of both worlds" in many ways!

[lanesniffin]

Hey political hakman are you going to address FTX collapse and them essentially laundering money for the DNC 😂😂😂