I’m speechless, The Stangnet PSA Thread

Boostedpimp said:

man reading this now I have to do some homework on the does and don'ts of life insurance

Click to expand...

What’s great about it is that it’s tax free money and paid within 5 days of the death. So if you insure yourself for a half million and God forbid pass away, your benificiary actually gets a true half million which is phenomenal because when people say they have X amount of dollars in a 401k, 457, mutual fund, IRA, etc, they don’t take into account the taxes that need to be paid upon payout and possible fees, penalties, market fluctuation, capitol gains, etc. Therefore your 401k, mutual fund balance, etc, is not a true dollar value and not “real money” until you actually make the withdrawal (if that makes sense) where as your life insurance dollar value is 100% what will be paid. Whatever you insure yourself for is what your loved one will get. Plus it can be canceled anytime, the amount can be lowered and your beneficiary can be changed. Your not locked into anything so there is no worries about taking out a policy and then thinking you made a mistake. It’s a win win if you ask me.