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- #41
I am saying that statistically you are being charged the most for the least in the beginning of the contract. Hence the contract is front loaded.
Obviously if you knew you would die in the first couple of years you would buy term. That would your greatest return on money invested. But of course if you are not old and are healthy----(the insurance company underwrites you)....the chances of you dying in those first few years or even 20 or 30 years if you are young enough are small.
However every year the chances of you dying get greater every year and it is a certainty that you will one day die. That is why the older and older you get the contract looks better and better if you keep it.
Only way to guarantee that you will collect on a whole life contract is to keep it Inforce during your entire life.
Heck...if you knew the lotto numbers to the mega millions....for just a buck you could collect 50,000,000-----and that is a really really good return
Obviously if you knew you would die in the first couple of years you would buy term. That would your greatest return on money invested. But of course if you are not old and are healthy----(the insurance company underwrites you)....the chances of you dying in those first few years or even 20 or 30 years if you are young enough are small.
However every year the chances of you dying get greater every year and it is a certainty that you will one day die. That is why the older and older you get the contract looks better and better if you keep it.
Only way to guarantee that you will collect on a whole life contract is to keep it Inforce during your entire life.
Heck...if you knew the lotto numbers to the mega millions....for just a buck you could collect 50,000,000-----and that is a really really good return