What exact is whole life insurance, and how do life insurance companies profit from selling it?
Monday, January 11th, 2010robbyn asked: Agents are always extremely keen about selling my family whole life insurance instead of term. According to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. However, why would the insurance company profit [...]
Does term life insurance take into account the combined income of a married couple?
Friday, November 6th, 2009asked: I have seen around the internet that the maximum term life insurance policy allowed for a person in their 20s is usually 20 times their income. However, I was wondering if there are any policies that take into account the combined household income. If a husband and wife both make $40,000 a year, [...]