For many of you Life Insurance is a gamble that nobody wants to take. $40 a month could buy your family $250,000 in life insurance, but you don't think that gamble is worth $40.
Consider buying a life insurance policy that is also a retirement or savings plan. Many insurance companies offer life insurance programs that are designed to benefit you even if you outlive the policy.
State Farm sold me my policy. I pay about $80 a month for $250,000 in coverage. Each month this money collects interest and if I make it until I am 56 (I am 26 now) I will have all of the money paid in plus 5% compounding interest.
Of course I could be paying $40 a month now and end up with nothing at age 56 which is what most people choose to do. Why buy life insurance that benefits the company more than you?
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