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Originally Posted by Dmpsix
I just figured it'd be smart to get locked into a really low monthly rate forever.
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Wrong way to go about. Term Life insurance is better financially speaking than Whole Life insurance. Having said that, at 24 if you are in good health and are not a risk taker, I wouldn't worry about buying life insurance especially since you said you're not done with school yet. The most common Term Life policy is 10 years, what is the likely hood of you dying in 10 years?
Imo, if you insist on life insurance, finish school first and get a job and see what the company you work for offers. Most companies I've seen offer a small policy for free with the option to buy more at a much cheaper cost than what any insurance company will offer you. For example I have a $500k life insurance through the company I work for and an extra $250k if it was accidental for a total cost of $3 a week plus a $10k policy that they give free of charge for all employees. See if you can find an insurance company that will sell you a $760k policy for $3 a week.