Insurance

Are you insurance poor??

Types

• Car insurance
• Health insurance
• Home insurance
• Life insurance
• Vacation insurance
• Car Repair insurance
• Property insurance
• Education insurance
• Mortgage insurance

I am sure there are other types of insurance that I have overlooked.

Life Insurance

When you take out life insurance, you are betting that you are going to die earlier than later.  However, if you die early, the insurance is only valid after a probationary period.

Average costs for $250,000 over 40 years

• Male - $25/month - $300/yr for 40 Yrs = $12,000
• Female - $20/month - $240/yr for 40 Yrs = $9,600

Now, if you put that same $25/month into a mutual fund for 40 years at 8% which is the normal ROI, at the end of those forty years, you will have $87,000.

So, there is a tradeoff.

You can give someone else $12,000 for a potential $250,000 if you were to die during the next 40 years or you can pay yourself and invest in a mutual fund over forty years and have $87,000 in your own pocket.

ALSO...

You can save $2.50/each day and at the end of the month put that money ($75) in a mutual fund at the end of the month and keep doing that for 40 years at 8% and end up with $500,000.

If you and your spouse did this, you would have ONE MILLION DOLLARS...  You would not need life insurance nor would you need any kind of special retirement fund to supplement Social Security.

With Artificial Intelligence at your disposal, you can ask AI what is best for you to do...

• get life insurance
• invest in a mutual fund

It is your life...  you need to be smart as to how to live it.

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