|
|
 |
 |
 |
 |
 |
In Reply to: Re: Re: follow up posted by Ken Young on May 03, 2004 at 07:45:07:
Ken Young, the debit collector, is talking about how bad the returns are on the cash values of whole life insurance.
VUL'S combine protection with investments.
Go to any companies web-site and look at the investment performance of the various sub-accounts that are contained in the policy.
Look at the SEC required propectus, and look at what it has to say about the investments of the policy.
You should never hide the fact that a VUL is insurance, but the VUL'S were designed as an investment vehicle with death protection.
Why does the SEC and NASD require a series 6,63 securities license to sell VUL'S?
The insurance business has pasted Ken Young by.
He is still collecting a debit in his mind!
Even whole life presentations taught to new agents stressed that if you didn't die by age 65 that you could use the cash values to help with your retirement income.
BTW:
In a VUL, if part of your money goes for the cost of ins. and the rest goes into the 40+ sub-accounts, like mutual funds, would you call that an investments? The non-insurance feature?
: :
: : There is certain info that I need about the VUL.
: : You have many different choices as far as prem. are concerned.
: : To use a VUL as an investment, you would want to over-fund it, Max. prem. Min. insurance.
: : Or you could just pay "target" prem.
: : Bottom line: BTID is better that a VUL paying less that Max. prem. which is the same as max. funding.
: : IMO, you did the right thing.
: : I can't compare to a whole life when Mike won't post the Whole LIfe numbers.
: : How can you compare anything if you don't have anything to compare against?
: :
: : : Mike & Jax,
: : : My posting to jax regarding my policy did not appear. I wrote that I bought a 30 yaer term policy with a death benefit of $350,000 for a yearly premium of $372. Comparing that policy to the vul the agent offered me i felt that my choice was the better one for me. I will invest the money i would have put in the vul in a roth ira. that was my decision.
: : : Mike, I was hoping you would post some numbers for a vul that you would offer, but I don't think you will. It has dawned on me that you are most likely not even a life insurance agent. You CAN'T offer a plan because you don't have one.
: : : I find it reprehensible that you would post on the
: : : subject (pretending to give advice) when you have NO qualifications whatsoever. If you are an agent, please post a quote so this dicscusion can take place.
: : : Jax, would you like to post a quote for a vul for someone in my position. perhaps then we can all see how the two options compare.
: : : thank you.
: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
: Gentlemen, I have a problem when anyone addresses any form of life insurance as an "Ivestment", and so do State D.O.I's.
: Live insurance's purpose is not an investment it is designed for a substitution for lost income in the event of an unexpected untimely death.
: The cash value build-up in any form of life insurance is simply a forced savings plan and nothing more than that.
: Many agents and their companies who market life insurance as an "investment" have been taken to the cleaners at their trial so to say, by attorneys representing vitims of insurance companies and/or agent's who had orchestrated that the victim was purchasing "an investment".
: The motto of the story is, "If you don't place your neck on a chopping block your neck will never be cut off". :-)
: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx