I have a whole life policy b/c I was suckered into it by an insurance salesman.

Sign up, and you can make all message times appear in your timezone. Sign up

Report problem with this ad

Jan 9, 2025
3:33:49pm

benny1982 Your Mom

I have a whole life policy b/c I was suckered into it by an insurance salesman.

It's not the absolute worst, but my money would have been significantly better off in the market. But at least my yearly premium isn't that much of my overall investment and savings, so it's not that big of a deal. If I knew then what I know now, I definitely wouldn't have done it.

This message has been modified

Originally posted on Jan 9, 2025 at 3:33:49pm

Message modified by benny1982 on Jan 9, 2025 at 3:34:11pm

Report problem with this ad

benny1982

Bio page: benny1982
Joined: Oct 18, 2003
Last login: Jan 9, 2025
Total posts: 63,525 (26,739 FO)

Report problem with this ad

Messages

Author

Time

Anyone use an IUL over straight term life insurance?

3:16pm

Yes. People who were sold dumb IUL policies by commission-hungry sales folks.

eoscougar

3:20pm

I have an IUL plan. It is not a great investment- I would have been better off investment

scall

3:21pm

Get a term life policy and then put the difference in an index fund and you’ll

Powerbait DPM

3:23pm

#1 rule of life insurance: It is primarily life insurance. Life insurance is not worthless.

Indy Coug

4:34pm

I wouldn't be surprised if a large majority of people who get permanent

benny1982

5:02pm

If they are structured and funded properly, they can be very good instruments.

cooger

3:27pm

👆🏼 A appropriate tool in certain estate planning scenarios; ≠ avg American

BYU'01

3:32pm

How about comparing an IUL to just buying the index. You can get those same things

RdF3

3:36pm

And when you die, the death benefit is tax free

Indy Coug

4:19pm

👆🏼’Estate planning’: loophole to stupid tax law. Fix death tax & UL goes away

BYU'01

6:12pm

I have a whole life policy. Some people tell me I’m wrong but I like it.

Senora Featherbottom

3:29pm

I have a whole life policy b/c I was suckered into it by an insurance salesman.

benny1982

3:33pm

I'm saying this gently, but the reason you have a whole life policy is because

4:40pm

The general rule of thumb is — the more policy features which are guaranteed for life will cost the

Indy Coug

4:42pm

WL policy might make sense if you are making a lot, plan to work until you're 70

OPINIONS

4:50pm

Yes,if it’s done right and the right company it can be amazing.

barebones

3:34pm

^whole life saleman

Powerbait DPM

3:36pm

Whole life is different than IUL

cooger

3:48pm

Ok. ^IUL salesman

Powerbait DPM

3:50pm

Haha 😆

cooger

3:58pm

True. It's not quite as bad long term for the consumer.

4:50pm

Okay let's talk about facts. Please factually show me an actual real policy verses it's illustration 10+ years into it

RdF3

3:38pm

IUL illustrations are based on historical returns and are footnoted up the wazoo to indicate

Indy Coug

4:13pm

Agents sell them like they are though.

RdF3

4:32pm

IUL illustrations are heavily regulated by the states to limit what can be shown

Indy Coug

4:36pm

Amazing that they commission so well, even with similar

4:49pm

I've been happy w my whole life policies

Sam's Dad

3:50pm

What kind of insurance is right for you depends on a lot of factors

Indy Coug

4:15pm

Sorry, but this is incorrect. A VUL or an IUL is never, never

4:43pm

If you’re hoping to pass a large asset intact to an inheritor, UL makes sense

BYU'01

6:20pm

This ⬆️

cooger

6:40pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad