I am 45 years of age,my friend just bought AIG AGLAFlex proplus unversal life insurance, he said, this kind of insurance can take of money from policy to pay for you hosptial or medicen when you got critical illness or chronic illness.most of the life insurance can not do that,if I buy this kind of insurance, I don’t need to buy long-term care insurance. I am healthy person and unversal life will cost me per month for 0,000 coverage.
I check with my friend and that what he said,AGLAFlex is different than other life insurance, you can take out large sum amount of money at once when you need for your medicare, After you recovery from sick, what ever left over that you don’t use,you can keep it,this insurance can help you when you still alive,not after you pass away, I know I have helth insurance, but you never know you will have a job in the future.
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Should I buy long-term care insurance or buy AIG AGLAFlex proplus universal life insurance ?
mariagethai 9:01 am on February 8, 2010 Permalink
Long term care insurance
Joe T 9:02 am on February 8, 2010 Permalink
If you have health insurance, why do you need to take money from a universal insurance policy to pay medical bills?
Term life, health, long term disability, and possibly long term assisted living are the most you need.
Nimbus 9:02 am on February 8, 2010 Permalink
These two products are very different, you buy life cover for your dependants on your death and critical illness is a long term income strategy, you may need both
mbrcatz17 9:02 am on February 8, 2010 Permalink
Well, LTC is the better buy, but you’re still young for it.
Don’t buy Universal Life, you can buy Term for about 1/6 the cost.
insuranceguytx 9:02 am on February 8, 2010 Permalink
Tell me exactly what will happen to you in the future and how those events will affect your savings and I will tell you what insurance to buy.
You should go talk to a licensed financial professional including an insurance agent (or more than one). Unless you want to post all of your personal financial information here, no one can give you an answer to your specific situation.
Joe T (above) may be right. You might only need term insurance but you have not given enough information to make that assessment.
Good Luck