• Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.

Whole Life Vs. Term Life Insurance

Life insurance is very important for any adult. If you’re a breadwinner, you’ll want to ensure that your family will be ok if anything happens to you. A stay at home spouse should also have life insurance. Childcare and homecare are expensive. You’ll want to be sure that your family can afford these expenses if something happened to you. The real question is whether you should invest in term or whole life insurance.

Term Life

As the name implies, term life insurance means your beneficiary will receive money if you die within the term. Your monthly payments are based upon several factors such as you gender, health, age, vocation. Generally, term life is pretty cheap. A normal 30-year-old can get a $1 million 20-year term life policy for around $700 a year.

Whole Life

Whole life consists of a life insurance policy and an investing fund. The idea here is that your policy has cash value regardless of whether or not you die. As you might expect, whole life is much more expensive because of this investment feature.

Which one is Better

Both whole and term life provide for your family if you die. But how does the whole life investment plan stack up against other investments? Let’s say the 30-year-old above bought a 20-year term life policy for $700 a year, and then took the remaining $7,530 they would have paid annually for a whole life policy and instead invested it into an S&P 500 Index Fund using a 401k. Based on the S&P 500’s 30-year average, this 30-year old would have $536,626 after 20 years. That’s substantially more than what the whole life policy would provide.

It can be nearly impossible to invest if you’re dealing with unmanageable debt. Bankruptcy can be a great way to shake off your debt so you can start investing for your future. Please contact our office if you’re looking for a Fairfield bankruptcy attorney.

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