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Reply to "Whole life insurance for end of life expenses?"
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[quote=Anonymous]I currently have term life insurance. I was recently speaking with a financial advisor (not affiliated with life insurance sales) who advised that in addition, I get a $50k or so whole life policy to cover "end of life" expenses. He said that it made sense to get that now, while I'm young, and the premiums are less expensive (I went through a quote process with my current insurance provider and it worked out to just under $30/month). I listened to him go on about this for some time, and still can't really understand why he thinks this is necessary. Can someone enlighten me? Is having $50k set aside in insurance for end of life expenses (and what are these - final medical bills? funeral?) better somehow than just having that same money in a savings account? Thanks![/quote]
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