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@ojames You might have to through underwriting... though if the policy amount is small you might not care and just overpay a bit.

@ojames Assuming this is the only child ... Yes you could just give her a small policy. Or just send her a copy and change beneficiary after. At 1 year you don't really need to worry the kid will get the money soon enough anyway. What you want is her not to be the custodian. The custodian...

@sherilyn No, why would you cancel a policy to get $0 and lose the life insurance at the very least? Whether it is worth saving the policy or not is a different question but no reason at all to just give it all up in surrender fees and not extract any value at all from it.

@ojames Generally you call customer service and say "I'd like to fill out the custodian form to set up the policy as a UTMA". They send you the form... This may be a generic "Transfer of ownership" or it could be specific. The boring small print...

@cd2 I don't know but FWIW I'd check Allianz. They operate in both the USA (Allianz of North America) and India (Bajaj Allianz).

@ojames No you can just file a custodial statement. Then the insurance company holds the money with the custodian having the right to pull all or some of it at any time for any reason with no supervision. You want limitiation beyond that, you need a trust.

@ojames I wasn't trying to insult you. I was trying to tell you why you were getting bad information from the insurance company customer service rep. No without an explicit custodial statement the insurance company will hold the money till they turn 18/21. She won't see a nickle. That could...

@ojames OK let me try a bit here. What you are asking for is the benefits of a trust without paying for it. The general customer service rep isn't going to give you a good answer. Some insurance company (NYLife, Allianz, Mass Mutual...) own trust companies. They can provide trust services...

@markster7 Lifting weights is probably worse for your chance of a heart attack than just having extra fat. Other parts of your screening will look a lot better. THC should wash out in a month. But of course if you lie about marijuana usage, have any sort of incident which kills you related to...

@jeshurun1111 Glad you liked!

@inandoutoflove23 Because you don't pay taxes on fixed income inside a life insurance policy. Correct until death.... You either borrow the money from yourself ("direct recognition" / "wash loan") or you earn inside the policy while borrowing at a reduced interest rate outside the policy...

@inandoutoflove23 At the very least switch to annual instead of monthly. Old insurance is almost always a good investment. This is going to be a good place to keep taxable fixed income. You didn't indicate your financial situation and how much taxable fixed income you need. I would...

@tannerking1 Money withdrawn to basis is tax free because of FIFO (first in first out) applying to life insurance rather than the more common LIFO. Money withdrawn after basis is taxed as income. What I think you mean is that via. policy loans one can use the money tax free, and then the...

@tannerking1 I did some posts on how to estimate likely returns from various investment options in an IUL assuming someone does not know options: and I certainly would not consider this "simple" as an investment. You are talking the return on option spread strategies. And for today's IULs...

@vincey First off switch to annual funding. You probably are underfunding it. Take a look at your in force illustration at the MEC limit. You have paid a lot of menu to be able to put money in that you haven't used. That's a waste. The IUL for someone in the 20s is not retirement saving...

@rabshield You are under insured if you have children or a dependent spouse. If you don't then not sure who you are insuring. You could easily justify something like $5m. At 28 with a $1.1m policy should be something like $40k if you were maxing it out. so I'm also thinking you are...

@justviv You can ask them to do something like +30%, -10% which is a volatile compounding of 8.16%. (or +29, -11 to account for expenses). Unless you need the money for something taxable it probably is. 401k, Roth... are better than VUL for most circumstances. You don't need death...

@deltoots Even if you decide to have another child 3 years out they would be 26 by the time a 30 year term policy ended. So from a life insurance only perspective the term makes sense. However, the largest expenses in a life insurance policy as an investment is the life insurance. From an...

@justviv Yes I think people on the insurance side mostly don't like probablistic products (i.e. stock heavy) and people on the investing side don't like higher fees. That being said I think VUL tends to be nice bucket for getting more 401k like assets if you are maxing out your 401k or want...

@faithfulxlove Thanks. Responded to the original here: