Perry Zang
Guest Speaker Write Up
3/23/15

I really enjoyed the use of the guest speakers’ last class. They were very informative and gave a good idea of what someone would do with insurance and risk in terms of occupation. The speakers gave a good idea of what different products and services they sold and how different each product is from another. Since my parents purchased a life insurance policy for me, I was intrigued to know more and learn exactly what benefits I would get for my life insurance policy. Since I’m somewhat young, my parents decided to purchase this product because the premium now would be cheaper than the premium 10 years from now. I received the whole life insurance package and I learned that I have protection for life, level premiums, cash value, and guaranteed death benefit. It’s attractive because the premium I pay now will never increase and it doesn’t expire or go down in value. A portion of my premium builds cash value which can be borrowed against it and my beneficiaries will receive whatever the value of the death benefit is worth once I pass. The great thing about the cash value is that it isn’t subject to market losses so when the stock market tanks again, I won’t lose a dime. Also some of the money you receive from cash value is tax free unless it exceeds the amount of premiums paid out. Unfortunately there are some drawbacks to this product. The insurance company takes my premium each month, pockets the profits, and puts a