I was a life insurance broker for a few years. First, what company did this hot life insurance agent work for, I may want to buy some life insurance again..just joking. Really, what company did she work for and can you look at the paperwork and tell us exactly what it says for the type of product (we're looking to see if you have Whole life, Universal Life, or some type of Term policy and what the term length is..) If you can get that off your application paperwork she left, I can google it to find out exactly what you have and see what some of the features are of the policy are. Will you have to take a medical exam, cotton swab of the mouth, or nothing?? Did she mention if they will be ordering your medical records?? Most importantly, why did you buy it (besides she was hot..haha) because theres usually some sort of emotional hot button that makes someone buy life insurance. The common emotional hot buttons are you just got married; have kids; girlfriend/wife (or both) are pregnant; near death experience for you or a loved; did someone you know just pass away without insurance..(I'm sure get where this is going)??
Term is very beneficial if used the right way. It's coverage for things in your life that are only temporary, but necessary..like a mortgage. If you have a homemaker mom and kids at home, still owe $400k on your house with 29yrs left on your mortgage..term is great, cuz it's cheap. Sure negatives are you get nothing back, when the term is up..it ends. The whole goal with life insurance is that it's suppose to be a vehicle that's used to get you to your golden years, where in a perfect world we all saved our money and will live on that. Our life insurance protection at that point because your nest egg which consists of pension, savings, stocks or investments, interest, and of course equity (because your home should be paid off by then). Life insurance is only to protect you while your building your nest egg.
What you sounds about right with Whole, but I was no expert on whole because people just don't want to buy it. It usually cost too much. I would love to see the link to that video. sounds like an interesting watch for an insurance geek like myself. :thumbsup: