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- #11
NWM doesn't have a friendly name for it, so I called it adjustable premium. LGilmore was correct in calling it an "annual increasing premium term." That's exactly what it does.
I'm not favoring NWM over other options. Basically, I've discussed insurance with a NWM agent and that's why I know more about their products. He can sell other company insurance, but he fights for NWM. I'm open to any reputable company.
I guess, the overall question for me is term vs. perm. I want a death benefit that will cover my family when they are in need. When my wife and I are old and grey with SS, investments, savings, and no children to take care of, I'm not worried about having a death benefit. Also, I'm not interested in generating savings or investments through my life insurance. Unless I'm missing something, I think that pretty much means I should just find a good term life policy that will cover me up to my late 50s.
I'm not favoring NWM over other options. Basically, I've discussed insurance with a NWM agent and that's why I know more about their products. He can sell other company insurance, but he fights for NWM. I'm open to any reputable company.
I guess, the overall question for me is term vs. perm. I want a death benefit that will cover my family when they are in need. When my wife and I are old and grey with SS, investments, savings, and no children to take care of, I'm not worried about having a death benefit. Also, I'm not interested in generating savings or investments through my life insurance. Unless I'm missing something, I think that pretty much means I should just find a good term life policy that will cover me up to my late 50s.