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NHB_MMA said:James, I know you've defended perm coverage in the past. What other common uses do you see for permanent policies?
For any circumstance that insurance is needed. Yet the permanent insurance in the business world does provide stability over a undetermined future of any business. Rush Limbaugh signs a 24 million dollar contract, what is the first thing Clear Channel (whomever) do? They go out and insure him for 24 million and guess what kind of insurance they use? It was W/L and I believe Mass Mutual wrote the contract, now why did they use W/L? Because its the cheapest thing out there today! That may sound strange but it is very true. You may attempt to say Term is cheaper but that simply isn't true, at least most of all large contracts are backed up with Permanent coverage, I suppose these super size businesses like to throw their money away?
Ps Rush's contract is ten (however many) years, that even makes the idea of why not use Term even more intriguing to some, yet the bean counters obviously choose W/L with MM not known for being the cheapest out there!