Question #1. How much do you actually need?
Question #2. How long will you need it?
Question #3. What about tax benefits?
For example, your annual premium for a permanent policy is going to be $8,700. Still, you can buy a term policy for 30 years with an annual premium not more than $700 per year! Well, if the permanent policy investments will earn you 8% over 30 years, you will get $600,000 after all the expenses. However, simply investing the $8,000 difference between the two policies, without paying any expenses, at the same 8% of return will bring you $980,000 tax-free over the same period. Feel the difference!
So, which is better?
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