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Hi Fishes, I have two offers in Hand : Oracle India : 25 LPA ( All fixed leaving gratuity) EY GDS : 25.8 LPA ( 23.5 Fixed + 2.35 variable + gratuity + insurance) Tech Stack : Oracle DBA with AWS and AZURE For Oracle I will have to relocate to Hyderabad whereas for EY I am getting in my home town. Which one will be wise to choose keeping in mind the salary growth as well as learning opportunities. EY Tata Consultancy Oracle India
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Term is best for most people. If you outlive the policy, you do not get money back. It is no different than auto insurance. You don’t get your money back if you have no accidents. Not sure what you mean by life or term. Term is life insurance
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Term 100%. You don’t get back but that’s a feature not a bug
Whole life is much more expensive and combines insurance and investing. It builds up a cash value. Term is much cheaper. You can invest the difference in whatever account you want. For most people assuming an ordinary market, you will come out ahead with term
The 2 types of life insurance are term and whole life. Term is significantly cheaper, but there’s no benefit if you outlive the policy. Whole life earns value you can borrow against later & can be used as a retirement savings vehicle. Not everyone’s a fan of it though so do some research score you but.
Where do you go to buy insurance? So it’s “term insurance” and not “life insurance”?
You can get quotes online. If you are a CPA, AICPA has pretty good rates.
I think he or she means whole life. That is part insurance and part investment. It provides a cash surrender value that can be used to either pay future premiums or you can cancel the policy and take out the cash surrender value. Term insurance is super cheap when you are young and healthy and you can lock in the premium for a certain number of years. Eventually as you get old, the premiums get more expensive but generally by that age, you don’t really “need” insurance any longer as your mortgage is paid off etc. Term insurance only pays when you are dead and if you cancel or don’t continue paying premiums, the policy ceases to exist.