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@clewis The strategy seems to be to have 3 buckets - tax free, tax now, tax later. Apparently this policy would fall into my tax free bucket. However, FA didn’t want me contributing after 55 because they believe there will be better ways to allocate my money at that point.

@trappermike1 FWIW, I’m not currently maxing out my 401k and haven’t contributed to a Roth IRA in a few years. Thinking I should see where I am after I contribute to those.

@ativyl Appreciate the breakdown. I’m also hung up on the fact that the illustration shows 8% as the return each year, it in all likelihood that won’t be the case, it’ll be some combination of ups and downs that averages 8% over time, which will give me a much different cash value in the end...

@qity The premium charge is 4% annually, the monthly contract charge is $120 annually, and the per 1000 charge is $477 annually for the first 10 years. What I’m seeing is about 22% in fees total for the first 10 years, and about 12.8% ($15,027) over the life of the policy (less the persistency...

So I’ve done my reading around here and it seems like VUL policies as an investment vehicle are almost universally (no pun intended) disliked. However, I’m really trying to understand why and would appreciate an ELI5 if possible. Basically what’s being proposed to me is a NYL policy with level...