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Here is a little background info…I am a month away from joining the navy and going to flight school, I am 26 no health problems and my wife is 23 with no health problems. I went to get car insurance and the lady suggested i get life insurance now why I am still considered a substitute teacher. She said once I join the military It will require A lot more info and also my career will be considered hazordous. Does this sound right? And finally she just did a quick quaote and to cover my wife and myself each for 250k it will cost just under 70 dollars. This is also whole life not term and she said after a certain amount of time I could also cash the policy out and even make money ( something like 30 yrs). Does all this sound legit and does the quote sound reasonable, it was also state farm if that makes a difference. Thanks

There’s a lot of different topics working here. With regards to those from whom you take financial advice, remember two things: Anyone who makes a blanket statement that whole or permanent life insurance is automatically a bad idea hasn’t a clue about life insurance; and most agents selling auto insurance don’t either. Anyone who refers to cash value as a savings or investment plan or component (although there are appropriate applications for this) doesn’t understand the purpose of cash value.

Life insurance should not be treated as an insurance product. It is an intricate financial tool to be employed as part of a complete financial plan. The "buy term and invest the difference" philosophy is often hard to argue with, except that it is based on several assumptions that simply don’t ring true for most people. There are also scenarios where permanent life insurance is the ONLY responsible option.

As far as the military and flight school, this isn’t a big issue either. War zone exclusions and policy rating based on aviation are very common, but will likely have litte effect on your insurability. While I’m not necessarily advocating lying to your carrier, a policy more than two years old must pay a death benefit regardless of the circumstances surrounding one’s death unless it is due to an activity specifically stated as an exclusion in the policy (contestibility rule).

I am an 11-year financial planner, head of the nation’s largest nonprofit financial advisory network, and a former military aviator; so I have a pretty good starting point in comprehending your situation. You should find the link below helpful in finding your answers.