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Friday, November 18, 2011

Thinking About Life Insurance

Grandpa and I have been thinking about our life insurance. We would like to include our grandchildren in our legacy. I thought it might be good to have enough life insurance to leave our grandchildren a possible college fund. I did some research and there is a boat load of information on the web about life insurance. You almost have to hire someone to help you research so you can compare all the prices and types of policies. A good way to find the information you are looking for is to ask for a life insurance quote from different companies and compare.
Do you know the difference between Term Life Insurance, Whole Life Insurance, and Universal Life Insurance? I knew about Term and Whole Life Insurance but, I had not even heard of Universal Life Insurance. What I learned about Universal Life Insurance I found at a site called AptusInsurance. Universal Life Insurance is a long term life insurance with flexibility that Whole Life Insurance does not have. The premium payments are made into an account that you can borrow against and also earn interest from the account. The interest can be used once in a while to pay your premium. I am sure there is more to it as I have just scratched the surface. We have a lot more information to look at. While Grandpa and I are not seniors yet, we do need to think about how we can care for our family even after we pass on. 


  1. It is always good to think n advance of things like that.And it does not surprise me at all that you want to include your grandchildren:))

  2. Very good info, we all need life insurance that is for sure, I didn't know there was so many choices either, I will have to check out mine and see about updating it to make sure I've got the best policy for myself that I could have.

  3. You are right... there are so many choices and everyone thinks or tells you theirs is the best. Thank goodness, my Hubs takes care of our so I don't have to worry about it.

  4. You are so smart to plan ahead. Your children and grandchildren will be grateful. For me, it was a must since I have two children who will need life long care. Good for you!