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In Reply to: Re: Re: whole life posted by Rock on August 13, 2001 at 21:02:17:
I admire your honesty and intellect, Rock, you seem wise to common financial concepts.
I'd like to add, most people want to retire, and certainly investing is an excellent way to do so, in fact, one of the few ways to do so. However, in the event of disability, even assuming one has disability coverage, what other plan is going to fund itself, ensuring that you're going to be able to retire as planned?
One may have an awesome 401k built up and a system of investing that ensures you'd meet your goals, but at some point, if you're derailed from this program, for any reason, what is one to do? Disability coverage typically pays 60%, or a fixed $ amount, depending on the company, but it wouldn't be sufficient to continue investing. This is where the living benefits of insurance come into play.
Outside of what I do, I understand it is difficult to talk about something that doesn't seem to be for you. However, there are living benefits that are typically not divulged that are important.