Can some explain like I’m 5?

[jeshurun1111]

@tannerking1 And if she doesn't? Are you going to show up at her funeral and tell her family whoopsie? Jesus.

 

[tannerking1]

@jeshurun1111 Nah because the IUL will be set to cover her family needs, hence why I said IUL & S&P.

 

[jeshurun1111]

@tannerking1 Seriously, dude. You are dangerous and exactly the guy that gives the rest of a bad name. I hope you get your head out of your wallet and start genuinely going what's right for the client. That or go sell used cars.

 

[jeshurun1111]

@tannerking1 She didn't state her income, but most people need somewhere around 10x that. You think a $500k-$1m IUL is appropriate? This is clearly term insurance situation unless the missing details are that she's a very high earner.

 

[tannerking1]

@jeshurun1111 Then whole life is appropriate since she will outlive the policy

 

[jeshurun1111]

@tannerking1 The right death benefit is the most important number. I doubt she can afford $500-1m in whole life. TERM, you buffoon. Upgrade later.

 

[tannerking1]

@jeshurun1111 By the time you upgrade it is going to be even more expensive due to your updated age.

 

[amit1605]

@tannerking1 What’s the best case scenario for retirement savings from an IUL?

 

[tannerking1]

@amit1605 Tax. Free loans and I think cash value basically it can build up to a lot 2.5%-12% per month or something. The numbers kinda confused me but if you have money you make more money.

 

[missflora]

@tannerking1 The numbers kinda confused you?? lemme get a policy bruh you sound intelligent and know how to answer any questions

 

[amit1605]

@tannerking1 2.5-12% is a huge range! I thought it was more like 2-4% and don’t you have to pay interest on any money you loan from your policy?

 

[kim5398]

@trnubian You and your husband should have some coverage. How much and which type depends on your budget and protection needs. Could all be term, permanent, or a combination.

 

[javelinda]

@trnubian You a have an annually renewable term your premiums will increase every year. I think the first comment on this post has the best explanation. You should probably seek a policy outside of your job especially because you have young kids and the converges you have seem to be inadequate and if you went on FMLA for 6 months or more or you got laid off or changes jobs that policy wouldn't pay. So that you don't get confused and pulled into someones intentions to sell you a predetermined product you should probably educate yourself on the various types of life insurance, their pros and cons and work with a financial planner/fiduciary (not an agent) to get a plan in place for you including a will, emergency fund, investments and retirement. I have a buyer's guide I can send you if you want.

 

[tannerking1]

@trnubian Please don't listen to my haters. I highly suggest for you to go for an IUL in case you die with the least amount of death benefit you think your family will need and put everything else into an S&P now the IUL is kinda pricy at target premium if you can't do target premium just don't do the IUL and go for a whole life and S&P/Securities.

 

[caitlynlovesjesus]

@tannerking1 Do not buy IUL, WL, VUL, or UL. Get the longest level term policy in the amount you need. Most life insurance agents are trained to sell high premium low coverage amount policies. There are so many options to accumulate wealth, so only get life insurance for what it is designed to be.

 

[tannerking1]

@caitlynlovesjesus Debatable. A very healthy adult should not be looking towards a term in my opinion. They should be betting more for a longer run or urgent just wasting money.

 

[tannerking1]

@trnubian Sure. There is no reason for you to have a term product since you are a woman and will likely be alive in your 80s. Instead you depending on your income you should invest in a cash advantage IUL as well as purchase a regular whole life policy or just get a whole life policy and look into investing into a S&P for retirement. You need to start looking towards retirement.

Do not purchase an annuity. You are too young for an annuity. Do not purchase a Universal Life. Universal Life is kinda weird. Do not purchase another term policy. You are highly likely to outlive it.

Also if you have the cash a SPWL (single premium whole life) will give you instant cash value and pay up the policy all at once. Meaning the face value will never go away. You may also want to consider a LTC(pays income for your job for life or until a certain amount depending on the policy) policy incase you become disabled and you're the sole provider for your family.

 

[kristen_123443]

@tannerking1 You have no idea what you are talking about and it’s painfully obvious.

 

[scaphis]

@kristen_123443 Was it the “Purchase a IUL” then “Do not buy Universal Life” that tipped you off?

 

[612to907]

@kristen_123443 He is on his 5th day of being an agent of course he knows everything!