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@vermillion no, just regular insurance on myself, payable to my spouse/kids.

@javelinda I tried, they say surrender isn't allowed: "partners are required to keep $XX in this program"

@javelinda That's all entirely plausible. But what do I do to minimize the cost to myself? Should I just surrender the policy as soon as possible?

@123thatsme I think they think it's a good investment -- they're always telling us how we can borrow against it, etc. This is actually just a very small part of the total involvement they have with life insurance schemes. In addition, it's all guaranteed issue, presumably because they're pulling...

@kim5398 Yes, it is definitely minimally funded. the reason is that I was trying to give them as little money as possible since I don't want this policy to begin with. When I emailed asking why the fees were so high, they said something similar, basically like "oh, well if you gave us more money...

@kim5398 Correct, I'm not consistent in the description. The $81 is per-month, while the $11k is per year.

@jwalk33 I think this is all the correct explanation. Just a bit frustrating when I don't really need the coverage (this is actually on top of a significant amount of other coverage they require) and actually sort of need the money in a moment. I'm paying nearly 10% on a separate loan (long...

@rayeli I'm a partner at a law firm. The firm takes the premiums out of my share of the profits. I don't think I have any ability to opt out. I wish I could.

@rayeli Does this not seem like a terrible investment? I'm 39 and healthy. My risk of dying is very small (hence the small COI). Whatever the tax benefits are, 9% seems like it must swamp them.

@rayeli I guess I'm surprised because there's the COI charge that seems like it's the piece for the insurance itself. So the 9% is for marketing, management, etc?

@rayeli I should have explained better -- the $81 is 9% per year (81*12/11,159). I mean, definitely I may have something wrong here -- they just tell me what to pay, I pay it, then I get a statement with a bunch of numbers on it.

@123thatsme They demand I buy $X of coverage in this program. It's not optional. So yes, it's part of the terms of my employment. If I want to be a partner, I do what the partnership says. It's annoying, but not worth quitting over.

@tabinek I'm a partner in a law firm. the firm can make me do what they want. Not sure what else to tell you -- they take the money out of my share of the profits.

I have a variable universal life insurance policy that I'm forced to buy through my employer. It has a face value of $1,000,000. My total payment to them this year was $11,159. Here are the fees I pay every month: $20 admin charge $81.18 face amount charge $2.00 other charges $4.66 COI charge...