Search results

@fud10 So if it was designed to overfund you would've done that before the policy was in force. As of now you are limited in the amount you can overfund, and the extra premium you can put in will change annually, you'll need to call the carrier every single time you try to put more in above the...

@freethinkerwwjd Completely depends on the countries you travel to. If you are regularly visiting OFAC countries, you may not get approved. If you do get approved however, the entire DB would be payable to whoever nomatter where you go. If you had talked about LTC though, you could see...

@sonriseforever The only problem with your justification is The same risk applies to Whole Life, with the exception of the fact that there is only ONE company that needs to have a down year, whereas an index is diversified and the market has always out performed the dividend rates of Whole...

@fud10 Oh, a WL only 2 years in. Are you overfunding this? (Paying more than the actual cost of the death benefit?) or are you just making the minimum payment to pay for the death benefit. If the 2nd option, then the cash accumulation isn't going to be a lot, and your access to it in the...

@famof6 Term isn’t actually almost pure profit. It is one of the products that have the lowest pay out rate. Meaning the company is keeping all those premiums because people either let the policy lapse, or outlive the policies. Term is absolutely a cash cow for insurance companies. Time...

@famof6 I don't think anyone here is advocating insurance as an investment/savings vehicle. IULs certainly have their place because of tax advantaged treatment. But the leverage you get with life insurance for a death benefit is far greater, and sooner than you do with investment products.

@ayogoal Fuck off Bot, I'm not writing a college paper

@21chicken Yes, I would always advise someone to talk to a professional in the field. Someone with a CFP designation has to act in your best interest as a fiduciary. And while most brokers and advisors do, if they are insurance ONLY sales people, they can't because they won't look at the whole...

@famof6 This is absolutely not true at all, and any financial advisor would lose their licenses and be significantly fined for suggesting such.

@zaverax I'm an RIA, with a 7, 24, and 66, CLU and CFP. Noone says they have a 6 & 7 at the same time, so you must be a new FA if anything. I'm certainly not a life insurance salesman, while I am also life licensed as any professional in my field would be. I've been an RIA for 20+ years...

@zaverax This sounds like a playbook from Dave Ramsey (never once has he been financial licensed or life licensed btw)…. Or /r/personalfinance bullshit (which is literally the blind leading the blind, I would lose my licenses and face thousands in fines if I said to my clients what gets said in...

@shadowgun1104 This is a very 1950-1970’s myopic view of insurance. Insurance products are not those types of products anymore. It’s like you read a blog or /r/personalfinance and you have no real experience in the space. The reasons to buy insurance, the riders available, the cash value...

@newhopeinhim Absolutely you should disclose this. Otherwise its misrepresentation, and the insurance company suboxone MAY not have to honor your death benefit. Instead they would just refund your premiums to the beneficiary, which meant you wasted your time and money.

@amacias21 Usually no. They are cheap because they rarely pay out. if your family needs death benefit, then they need it no matter how you die. Buy a life policy.