What Does Suze Orman Say About Term Life Insurance?
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63333 POINTSview profilePeggy MaceMost of the U.S.Suze Orman says that Term Life Insurance is the only type of life insurance to buy. She recommends buying a length of term that suits the need for which it was purchased. E.g. If protecting a child who is 13, purchase a 10 year term policy. She says to buy 20 times the amount of annual income that your dependents would need to survive without you. That way they can invest the principal and live off the interest.Answered on September 1, 2013flag this answer
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaSuze is a major proponent of term life insurance. She has not been a fan of permanent forms of life insurance, especially participating whole life insurance. If most cases, where people have retired their debt, secured their future obligations and have no charitable intent, term life insurance with an option to convert may be the approach to take in a defensive planning strategy. But many people have ongoing liabilities that exceed term life insurance periods of coverage or are limited by the age of the consumer. So permanent forms of life insurance could make sense.Answered on September 13, 2013flag this answer- 63333 POINTSview profilePeggy MaceMost of the U.S.Suze Orman is in favor or Term Life Insurance because it is a low cost way to provide a hefty amount of financial protection for a family. She advocates investing and saving on the side, so that your family need not be dependent on life insurance in your later years.Answered on August 29, 2014flag this answer
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