jidane asked in Business & FinanceInsurance · 1 decade ago

Best life insurance policy?

Which is the best life insurance policy for tax saving and investment for employee?

19 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    None. Why would you want to put insurance and savings together? That makes your policy very expensive and if you die, you lose all the cash value. (If you don't believe me, you can ask any insurance company themselves. Don't ask agent because his/her job is to trick you into buying it).

    If you want tax-deferred investments, invest into a Roth IRA.

    If you want tax-deductible, invest into a Traditional IRA (however, you may owe taxes by the end of the year)

    Source(s): Take a look at this: http://obe231.blogspot.com
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  • 1 decade ago

    Simple....a life insurance policy is not a very good tax saving and investment idea.

    A life insurance policy should only be used to guarantee a source of income for anybody whom you care about. If you have a spouse/kids to support you should buy the maximum amount of term insurance you can afford take whatever savings you got from avoiding buying the very high commission universal life and other whole life policies and putting that into higher risk, higher yielding investments.

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  • Anonymous
    1 decade ago

    The best thing you can do is get an inexpensive term policy, say a $500k policy that covers you for 30-35 years. Premiums are going to depend primarily on your age, health and family health history, but they are going to be a lot lower than a whole life policy's premiums.

    On the other hand, someone here suggested you open up a Roth IRA, and I second that. It is the best way to save tax free for retirement, since the money you put in has already been taxed.

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  • Anonymous
    5 years ago

    Get and compare quotes from different companies at - INSURERATES.INFO-

    RE Best life insurance policy?

    Which is the best life insurance policy for tax saving and investment for employee?

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  • Anonymous
    6 years ago

    Get the best deals available in your area at: PROTECTIONQUOTES.NET

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  • 1 decade ago

    Do not buy life insurance for investment or tax savings. Buy it only to protect loved ones. The cheapest insurance is usually decreasing term. Many financial experts suggest that you should buy this term insurance and invest the rest that you would have used for whole life.

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  • 1 decade ago

    Well, selection of a particular policy depends upon various factors like your financial objectives, the amount of your premium that you can afford etc. So without knowing such factors it would be difficult to decide which policy suits you the best.However nowadays the hot selling insurance product is ULIP which is quite different from the traditional insurance products.And as far as tax factor is concerned almost all the policies, including ULIP, offer tax benefit.

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  • 1 decade ago

    Indianapolis Life has very competitive prodcuts which you can design to give you the maximum tax savings without some of the limitations that say a Roth IRA will have. If you are interested in more information I would recommend contacting mattb@benefitsblvd.com. Tell him that tigertiggerii referred you. Ask for an illustration based on what you want to put away. Good Luck.

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  • 3 years ago

    I would recommend one to try this site where you can get quotes from different companies: http://insure-cheap.info/index.html?src=2YApjstbZJ...

    RE :Best life insurance policy?

    Which is the best life insurance policy for tax saving and investment for employee?

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  • ?
    Lv 6
    3 years ago

    I would recommend that you visit this internet site where onel can get quotes from the best companies: http://insuranceforcheap.info/index.html?src=3YAzp...

    RE :Best life insurance policy?

    Which is the best life insurance policy for tax saving and investment for employee?

    Follow 17 answers

    Source(s): I would recommend that you visit this internet site where onel can get quotes from the best companies: http://insuranceforcheap.info/index.html?src=3YAzp...
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