Posted on 04/03/2010 1:38:25 PM PDT by sodpoodle
So I'm thinking the Federal Government could force us to buy $100,000 of whole life insurance in our early working years with part of the social security *donation* and name the US Government as beneficiary. That way, when we die (not if) the $100K goes back into the SS & Medicare funds.
Actually - it's a better idea than what we have now!!!!
Because life insurance isn’t taxable.
I have a better idea, it should be one million payable to the US government then when we are denied the health care we need and die sooner they can pay off the debt incurred for out nonexistent health care.
<< Whole life is a scam. Anyone who buys a whole life policy is a supreme idiot. >>
That is simplistic, at best.
Remember, term policies expire at age 70. Whole life doesn’t. Having a whole life policy that can take care of funeral expenses, old age costs, etc. COMBINED with having term and mutual funds makes for a well-rounded portfolio, and having a well-rounded portfolio is NOT the result of supreme idiocy.
Hoping to add more thievery to Hillarycare?
Why not avoid unnecessary purchases, become more self-sufficient and shut the whole racket down?
Only if they can tax the benefits your widow receives at, say, 75%.
Best is an over-funded whole life with excess initial payment an with a seven year term rider to avoid tax.
More than offset by those who die young with a wife and children receiving benefits.
Death is a privilege, not a right. Dying without govt mandated life insurance will land you in jail. Obama is serious with this one.
You are better off putting your money into a CD or bonds than a whole life policy.
The rule of thumb is: buy term and invest the savings. Have a diversified portfolio, but don’t buy whole life.
I feel for you. The insurance agents prey on the innocent with whole life policies.
I think life insurance is stupid!!!
With UAW "workers" building the cars, three years is probably the total time cars will function before completely breaking down.
If you die old, after working your whole life and saving a little something, the government takes it via the estate tax. That goes to them on top of the income taxes you paid every year. In essence, it is the same for the feds as a life insurance policy--you make money, instead of giving it to an insurance company with the feds as beneficiary, you save it for yourself and your family, and the feds take a piece when you die.
They don't need a policy on your life, they already benefit from it.
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