Re: WFG, AEGON,VUL, HELP

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Posted by Azmartini (12.83.69.125) on April 10, 2001 at 10:18:21:

In Reply to: WFG, AEGON,VUL, HELP posted by Allyson on April 09, 2001 at 21:04:58:

Alyson,

You are looking at a Variable Universal Life policy and if you are being told this is mutual funds immediately report this agent to your State Insurance Board. Good investment advice can be found at most large brokerage or insurance company office; avoid small independant agents (ie AEGON or Primerica). Look for credentials such as CFP or LUTCF or CLU, CHFC. Anything with a death benefit is an insurance policy.

Variable Life is a good product for use in Section 162 plans, Estate liquidations or where it is heavily funded as option to traditional universal life. It is not an INVESTEMENT, or SUPPLEMENTAL RETIREMENT PLAN (except in the case of 162 plans), and should never be purchased as an alternative to, or in place of, IRA's (both ROTH and TRADITIONAL).

: I have been in contact with WFG regarding what I thought was mutual fund investments. Further investigation (I actually read what they gave me) showed that these are insurance policies and not mutual fund investments. Am I correct? Sounds fishy to me and I don't want to make a bad move with what little I have to invest. Any info?

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Subject: Re: Re: WFG, AEGON,VUL, HELP

Comments:
: Alyson, : You are looking at a Variable Universal Life policy and if you are being told this is mutual funds immediately report this agent to your State Insurance Board. Good investment advice can be found at most large brokerage or insurance company office; avoid small independant agents (ie AEGON or Primerica). Look for credentials such as CFP or LUTCF or CLU, CHFC. Anything with a death benefit is an insurance policy. : Variable Life is a good product for use in Section 162 plans, Estate liquidations or where it is heavily funded as option to traditional universal life. It is not an INVESTEMENT, or SUPPLEMENTAL RETIREMENT PLAN (except in the case of 162 plans), and should never be purchased as an alternative to, or in place of, IRA's (both ROTH and TRADITIONAL). : : I have been in contact with WFG regarding what I thought was mutual fund investments. Further investigation (I actually read what they gave me) showed that these are insurance policies and not mutual fund investments. Am I correct? Sounds fishy to me and I don't want to make a bad move with what little I have to invest. Any info?

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