if u have visited my blog and read my blog entry on february 06, 2011, u will probably come to the conclusion (like i have) as to why on earth would any financial adviser recommend a yearly renewable term plan for the long term and in the example given, till the prospect attaining age 75. and i still can not fathom why there is no additional layer of protection added to the term plan in the form of an enhanced waiver of premium rider.
mind u, we are talking about paying mega bucks should my prospect decide to 'hang-on' to his term plan for the long haul. and for just plain vanilla death and total and permanent disability coverage, surely the question arises as to whether doing so is 'loco' in terms of forking out $68,622.00 or from my recommendations with just $23,868.00 or $25,043.20 (with the enhanced waiver of premium benefit).
note: 'loco' in spanish means crazy.
my comments:
therefore, even if u belong to the 'buy term and invest the rest' camp, surely the importance of engaging the right financial adviser is still paramount before signing on the dotted lines.
the latter is even more significant as term products are practically almost universally available from almost all insurers and pricing can be as different as night and day or even chalk and cheese.
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