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From: wjm@lcuxc.UUCP
Newsgroups: net.invest
Subject: Re: Life Insurance
Message-ID: <342@lcuxc.UUCP>
Date: Tue, 9-Apr-85 09:56:38 EST
Article-I.D.: lcuxc.342
Posted: Tue Apr  9 09:56:38 1985
Date-Received: Sun, 14-Apr-85 13:33:40 EST
Organization: Bell Communications Research, Inc.
Lines: 25

Despite what insurance agents tell you, if you want (or need) life insurance,
you should buy life insurance and not life insurance with many additional
extras thrown in.  Term insurance is pure life insurance - anything else adds
things that you'll pay through the nose for.
Don't get me wrong, you should set up a savings plan, but whole life (or
adjustable life) is not the way to do it.  You can do much better by going
to a bank or broker or mutual fund and investing the money you'll save by
getting a term policy.
As always, the best advice on life insurance is - Buy term and invest the
difference.
The second thing that insurance agents won't tell you is WHERE to buy the
insurance.  The best options are:
1) your employer's group plan - if you have one.
2) professional societies - for example, the IEEE has an excellent plan for
      its members
3) a savings bank, if you live or work in Mass. or NY.
The aabsolute worst option is one of the major insurance companies, since their
salesmen get astronomical commissions that come out of the early premiums
paid on a new policy.
You can also look at the Consumer Reports life insurance report which came
out in early '84.
Regards,
Bill Mitchell ({ihnp4!}lcuxc!wjm)