Life Insurance After 50
He's content to bide his time because while he watched his friends' investments (and some of his own) tumble in 2008 and 2009, his life insurance stayed out of trouble. "At first, people told me I was investing like an old man," he says. "But now they think I'm a genius." A limited-payment policy -- you pay higher premiums for fewer years -- is an option that is becoming popular among preretirees who want to time the end of their premium obligations with a retirement date. A ten-year payment plan between age 50 and 60 costs perhaps twice as much per year as regular premiums you would pay over your lifetime. But by putting more into the pot early, your cash value also compounds quicker.
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