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Variable Universal Life Insurance Knowledge Base
How is Axa's Variable Universal Life Insurance? How is Axa's Variable Universal Life Insurance? Anyone have the policy? what do you think?
Should I invest in a Roth IRa or Variable Universal Life Insurance Policy? I have a 401k/ Not married, no children, but my advisor says it is wise to invest in a variable universal life policy while I am young (the premiums are lower) so it builds cash value to aid in retirement plus I will have the death benefit for later on when I am married and have kids. Susie Orman thinks this is a bad idea and that 401ks and Roth IRAs are the way to go. Other people think differently. I am confused on what to do and wonder if people who have actually signed up for a Variable Universal Life policy have actually seen the cash value results when they have retired. My illustration shows about $600,000 cash value when I am 70- that is with a 12% return. I am wondering if I should go with this policy or use the $200/month it would cost to fund this and invest it in a Roth IRA instead or put more towards my 401k. Any serious advice would help!
which one is good. Universal life insurance or variable universal life? I have variable universal from metlife for 7 months. Can I change it to universal life or not?
What is better for me to get, Group Universal Life Insurance, or Group Variable Universal Life Insurance? ? I am having trouble figuring out the advantages vs. disadvantages of each. The GUL has a guarantee of at least 4% return each year. The variable has a bunch of portfolios, that given the market, are not there.
Is Variable Universal Life Insurance right for us? My wife and I recently started variable universal life insurance policies. We are paying about $600 a month toward the policy on top of what we are each contributing to our 401k plans. We are both under 30 yrs. old, and are trying to get a good start on our retirement. Should we be investing in IRA's or something else instead? We both supported ourselves before we got married, so do we even need life insurance right now since we don't have children yet? Our advisor works for New York Life, and he's telling us that the variable universal policy is the best first step. I feel like he is just trying to maximize his commision instead of doing what's best for us. I know, we shouldn't have gone to an insurance salesman, but he was recommended by a close friend. What should we do? Combined, we make $85,000/yr. I contribute 6% to my 401k, and my wife contributes 1%. We are homeowners, not renters. Other that that, we don't have any other investments.
is variable universal life insurance a good deal even though the market is volatile? how about plain old universal life? is it a good deal even though...?
Does it make sense to have a universal variable life insurance policy inside an irrevocable insurance trust? I thought advantage to irrevocable trust was to pass money tax free upon death. What advantage does the investment side of vul insurance provide?
Should we switch our variable universal life insurance policy to a guaranteed universal life policy? My husband and I each have variable univeral policies...our agent is suggesting we change over to guaranteed universal policies - we will save a few hundred dollars a year and add 100k onto the benefit. My husbands policy was bought in 1999, mine in 2001. We were not using the existing policies as an investment. Does it make sense to change now? (we are in our early 40's) The agent suggested that in the future insurance costs may rise, and we may not be able to afford the current policy- but the new policy rates are guaranteed to never increase. Any thoughts or advise?
I'm debating on if I should keep my variable universal life insurance policy? I'm 31 years old, and I pay $100 a month for a $250,000 death benefit payout.
Variable Universal Life Insurance? **Experienced Life Pros only, please** Working with a couple now, and they need Life Insurance. They need a last sourvivor policy for estate planning, so Term is out. Young couple, in their 30's. With a VUL, is there any time that a single pay contract would make sense? I can't figure it out, but since it's an option, I need to go over it for compliance reasons. Please help A.S.A.P.!!!
Is variable universal life insurance a good alternative to college savings plan? It is confusing!!!?
What are the pros/cons of Universal Variable Life Insurance? Who are the good providers. What kind of questions to ask and know about hidden costs/risks/returns. Thanks for your time in advance. sansoo
Do I have to pay taxes on a Variable Universal Life policy when surrendered? I am surrendering my Variable Universal Life Insurance policy and need to know if I will be taxed on the money I receive. The surrender form has a place to choose how much in taxes to withhold but I am not sure what to put or if I am even taxed on this money (it is a generic surrender form for all kinds of accounts/policies).
Variable Universal Life Insurance (VUL)? I am 19 and met with a financial adviser to try and start on a retirement plan. He strongly recommended that i go with a VUL. He wants me to invest $10,000 up front and then make monthly deposits. I did some research on it but im skeptical. Is this a good retirement/life insurance plan? Or should i go with a 401k or another option?
Variable Universal Life Insurance Vs. Mutual Fund? what are the benefits and draw-backs for those? which is better?
Life Insurance: Variable Life vs Whole Life, which one is really better? Is Whole Life premium more money than Variable Universal Life? I asked for a Whole Life insurance quote from one of the big insurance companies around, instead the agent tries to convince me that I should go with Variable Universal Life. He said Whole Life premium is always higher than Variable Life. He generated a printout for Variable Universal Life but not for Whole Life. I just want my premium to remain fixed in my old age and dont want the death benefit to fluctuate hence I prefer Whole Life. He stated that the death benefit is guaranteed for VUL. Is it really? I have a feeling it's not and that the premium for VUL will increase in my old age since it's dependent on my market investment. I'm beginning to think that his commission for selling Variable Life is more than selling Whole Life. I'm 37 female, non-smoker, in good health. I dont believe Whole Life premium would be that much higher than VUL. Any input is appreciated.
please explain how universal life insurance works in details? is it the same as variable insurance wherein you can increase or decrease your insurance coverage for the same premium or universal life have a fix premium for a given age and amount and if you want to increase your coverage, you just add a yearly term insurance?How do you increase its coverage? Will it affects the premium if you want additional coverage? I understand variable life insurance has a range of minimum to maximum coverages for a given premium, is it the same with universal life?please explain in details how the entire process works.
How difficult is it to cancel a Universal Life Insurance policy? My husband and I bought Variable Universal Life Insurance through a major insurance company 9 years ago. The actual insurance value on each of us (separate) is $200,000 each. We pay each $100 per month toward the insurance plus the variable part. Each account is worth about $11,000 after the surrender charges (which are down to less than $200 each). Is it worth it to cash these out now and invest this money on our own? We don't need the money right away, and would just put it in a CD until we decide temporarily. Is it difficult to cash these in? (meaning do they make it hard on purpose?) Would the only penalty be the cash surrender charge, and forfeiting the insurance? What is the procedure? This is a major national company, but we now live in a different state. We are planning on buying a $500,000 term policy for me, and $1,000,000 policy for him for half of what we pay now. We have 4 children under age 7. On our statements which we receive each quarter, there is a Cash Value after the Surrender Charge. Is that the actual amount we would get back, there are no other hidden fees? We do not need to sign any paperwork in person?
Can I sue my insurance company? They sold me whole life now have said it is variable universal life? ..they say I have no cash value and I have been paying for over 20 years. Can I sue them?
What are my options of getting out of a variable universal life ins. policy? I have a domestic partner, we are both in out 40s and we invested in this variable univ. life policy as a way to diversify and to provide life insurance for one another. We think we have made a mistake based on our research about var life ins policies as investment vehicles. What are our options of getting out of it?
Are Variable Life a good investment vehicle? My financial advisers sold me a Universal Variable Life Insurance investment vehicle, but I feel that it's in the negative all the time. I am looking for some advice...
What is the best type of Life Insurance? I was told Whole is better, but how? What are the differences between, Whole, Term, Variable and Universal Life Insurance?
What is your opinion of VUL? Variable Universal Life? I know their fees are ridiculously high and their returns aren't anything special. I feel that it's smarter to buy term life insurance and invest in no load mutual funds versus putting money somewhere that charges fees for everything.
for lifetime protection which insurance plan is best - whole life, universal life or variable life? i want a lifetime coverage for income continuation, & asset protection. which do you think is the best taking everything into consideration?
What is the best type of life insurance? Between whole life, universal life, variable life, and term.
Question about Life Insurance inside of a ILIT? What are the pros and cons of having a guaranteed vs non-guaranteed Variable Universal Life Policy inside the ILIT? Thanks in advance
What type of life insurance would be best to purchase? "Claire is a 25-year-old single mother with a 3-year-old daughter named Jasmine. Claire earns about $25,000 a year as a teacher's assistant while she is working on her Bachelor's degree. She would like to purchase life insurance to protect her family. What type of insurance would you recommend she purchase? Give at least two reasons for your recommendation." Term Insurance -Level term -Decreasing term -Renewable term -Convertible term Permanent Insurance -Whole life -Limited-payment life -Universal life -Variable life Pleeease help. I'd love to tell you but it doesn't say. Which is why I need help lol.
10 ? insurance test? 10 points!? 1. An insurance policy is a legal contract between a consumer and an insurance company that provides protection against a financial loss. A. true B. false 2. The insurance term for likelihood that you will incur a loss is referred to as: A. Luck B. Chance C. Risk D. Probability 3. The premium you pay for auto insurance is effected by each of the following except: A. Your age B. Your driving record C. Your credit score D. Your earnings 4. What type of insurance protects you from theft and loss when you are living in an apartment? A. Health insurance B. Auto insurance C. Life insurance D. Renter's insurance 5. If you wanted to ensure that you were able to receive the lowest premium rate for your homeowner’s insurance, which of the following would not help your rate? A. smoke detectors B. swimming pool C. sprinkler system D. fire alarm 6. Which type of life insurance is the least expensive because it only provides insurance for a certain number of years? A. Term life insurance B. Whole life insurance C. Variable life insurance D. Universal life insurance 7. What type of insurance would be most helpful to have if you to protect the health of you and your family? A. Homeowner's insurance B. Health insurance C. Life insurance D. Auto insurance 8. Purchasing an extended warranty is always a good thing to do. A. true B. false 9. Your friend is married, owns a home, and has two children. He wants to get the most insurance possible for the cheapest rate. Which policy would you recommend? A. Term life insurance B. Variable life insurance C. Universal life insurance D. Whole life insurance 10. Which type of policy should you purchase when moving into off-campus housing at college? A. Homeowner’s Insurance B. Renter’s insurance C. Property Insurance D. Health Insurance
10 insurance easy questions? give you ten points!? 1. An insurance policy is a legal contract between a consumer and an insurance company that provides protection against a financial loss. A. true B. false 2. The insurance term for likelihood that you will incur a loss is referred to as: A. Luck B. Chance C. Risk D. Probability 3. The premium you pay for auto insurance is effected by each of the following except: A. Your age B. Your driving record C. Your credit score D. Your earnings 4. What type of insurance protects you from theft and loss when you are living in an apartment? A. Health insurance B. Auto insurance C. Life insurance D. Renter's insurance 5. If you wanted to ensure that you were able to receive the lowest premium rate for your homeowner’s insurance, which of the following would not help your rate? A. smoke detectors B. swimming pool C. sprinkler system D. fire alarm 6. Which type of life insurance is the least expensive because it only provides insurance for a certain number of years? A. Term life insurance B. Whole life insurance C. Variable life insurance D. Universal life insurance 7. What type of insurance would be most helpful to have if you to protect the health of you and your family? A. Homeowner's insurance B. Health insurance C. Life insurance D. Auto insurance 8. Purchasing an extended warranty is always a good thing to do. A. true B. false 9. Your friend is married, owns a home, and has two children. He wants to get the most insurance possible for the cheapest rate. Which policy would you recommend? A. Term life insurance B. Variable life insurance C. Universal life insurance D. Whole life insurance 10. Which type of policy should you purchase when moving into off-campus housing at college? A. Homeowner’s Insurance B. Renter’s insurance C. Property Insurance D. Health Insurance
variable universal life question? ok I see a lot of primerica agents in insurance questions like they know what their talking about here's a question an don't say buy term invest the rest it doesn't make sense every persons situation is different an unique. A single 22 year old male in shape no health problems with family history of hearth disease works 9 to 5 has a carpenter making 45K a year that contributes to is 401k an his currently buying a120k home plans to get married at 32 should he buy a VUL policy if no why not an what should he buy thank you for your time i'm sure alot of people will read this post I think herman is the best answer cause with a family history of a diseas life insurance is important for the long term an even tough variable isn't for everyone it does provide the best of both worlds if i picked term eventually it would expire an it would cost to much to convert it
Term Life Insurances-Insurance Law? Hi I was wondering if you would be able to look at a brief summary of my family situation and give me some suggestions.I want to get insurance but can u recomment some changes in what I presently have. I thank you. I am married and have 3 childern (ages 9, 12, and 16) I just bought a waterfront home which is valued at 500,000 with a 300,000 mortgage. My jewrely is about 10,000. We have 3 cars a 2004 BMW, a 2002 Lexus and 1997 Jeep Wrangler. My husband works at a large manufacturing firm and earns about 125 K. I run a day care center from my home and earn about 45K. I don't have any employees. My kids all go to private school - which costs me about 25 a year. We honestly have no savings or investments and almost no discretionary income at the end of the month. ( which is a main reason I am writing this!) I met with a financial planner and they suggested on purchasing a 50,000 variable life policy for each of us as an investement. I think i am worried about the high vost of these policies This is what is presently covered property risks Ho3 with no endorsements or riders, dwelling 300,000, liability 100,000, medical payments 2500/person, uninsured/underinsured motorist 100,000,collision and other than collision (100 deductible) Personal risks: Life - my husband employer paid group term 50,000, we both have 50,000 universal life policy disability - mr. murphy - employer paid group policy (LTD with a 90 day wait with benefits to age 65) I have no coverage Medical: My husband - employer paid Major Medical (family plan) myself - i have an individual plan and still pay premiums I thank you for whatever you can give me!!
what kind of life insurance is best for a single male 40's to ensure estate is cared for? I don't understand the differences in all the different types (whole, term, universal, variable and variable universal). I want to make sure my family is able to pay funeral expenses, bills, etc. Thanks!
Term life insurance and Cash value life insurance? Hello I've been reading a book named "Starting a Small Business for Dummies" In this book the author made a comment as follows "Term life insurance offers the best way needed coverage at the lowest cost and wrote "other policies such as universal, whole and variable life are collectively refferred to as cash value policies" and says that the cash value life insurance is the bad option because it cost eight times what a term life insurance costs and in the early years the bulk of that money goes to pay insurance agents and adminstrative costs" my question is ---is that really true and later in one of the chapters-the authors goes on and talks about different options of finding money for the start-up costs of the business--- one the option it mentions is the life insurance it says the following-" if you own a life insurance policies with a cash value, you probably shouldn't because term life insurance is a better deal- it says that if you have a term life insurance, then consider cashing in such policies and putting that money for the start-up costs for your proposed business. " the confusion that is arising is how can you can cash in such policies-how can you cash these policies when you aren't dead, because according to the information that I've gathered so far about life insurance is that the money from these insurance policies goes only to the beneficiries after that person dies..so does this really make any sense.... Thanks
Workable Business Opportunity? Variable Universal Life Insurance Policies (VUL) makes up over 20 percent of the Life Insurance Market. There are so many negatives to VULs. 1) Charges a ridiculously high fee every month. 2) Carries a huge surrender charge if you can't afford to maintain the policy or decides to exit the policy. 3) Average performance of about 8 percent a year. I find it is so much better to buy term life insurance for a one time fee and investing that difference somewhere else. Would you think it's great if we can convince ppl with VUL to exit their policy and switch to buying term life insurance and have us manage the money leftover? Would that be a great way to find clients or investors?
Isn't all cash value policies are term insurance? Whether its whole life, universal life, or variable life, when you pay your premiums, your premiums are being paid for two things: 1) Term insurance and 2) Cash value. At the beginning, most of your premiums are paid toward the cash value. As you get older, term insurance gets more expensive, so less of your premiums goes toward the cash value. So the notion that says cash value life insurance isn't Term insurance is not true. Both provide coverage to age 95 or 100. But cash value policies has term insurance premiums that goes up every year, even though premiums as a whole may remain level. But buying term insurance by itself remains level for awhile and only go up when you renew it. If that's now how cash value work, then what do you make of it?
What is the best kind of life insurance to get? Which is most affordable? (term, whole, universal, variable) I also would like your recommendations on good companies.
VUL & College Savings Plan? A Financial services guy is recommending I cancel my existing Term Life Insurance and instead put money into a Variable Universal Life Insurance Policy. He also said I should cancel my State 529 plans and put that money into the same VUL. He said you can withdraw or borrow money from a VUL. I told him I don't really understand what he is proposing. He is only recommending a 100,000 policy, but I am still confused as to why one would use a VUL for saving for your kid's college?
Is there a charge if I were to cancel this ? I have a Variable Universal Life insurance by Western Reserve Life. I have had this for about 9 months and absolutely don't like what I hear about it now. I want to cancel it but do not know if I will get charged. Also, I know clients are allowed to borrow money from their cash value, which will decrease the death benefit... would I be able to borrow money.. as much as i could, and not pay them back,... then cancel it? so at least I get some money back. I know that if I were to cancel it, I would not get any of my money back. thanks ..
Investment question about how to track your investments? I have a variable universal life insurance policy in which money is invested into im pretty sure mutual funds maybe. But the subaccounts they have are Small/Mid Cap, Small Cap-Idx, Internatil-Idx, Large Cap, Large Cap-Idx, Bond. Thats what is says. Then it lists account value, total units, unit price, ect. Basically i wanted to know how to find those accounts? Do i have to contact to get the specifics, or are those subaccounts already specific enough to find? I want to enter this into Quicken so i can track the losses and gains. Any help would be very helpful. thanks!
What to do with cash and loans? I'm 30 years old and have the following in loans and cash. I have a very good paying job and no mortgage. I'm trying to determine what to do, save more cash or begin paying down debt. Obviously I need to maintain some cash base for issues that may come up. Cash: $6,000 in savings yield 4.25% $12,000 in stock market investments (up from $8,000 in Jan.) Loans: $10,000 left on undergraduate at 3.25% $41,000 left on graduate at 5.25% $14,000 left on car loan (3 yrs. to go) at 7% $5,000 in credit card debt 0% until September of 2008 I contribute to 401K, IRA, GE direct stock, kids college, and I have a universal variable life insurance. The life insurance policy is worth around $4,500. I have approximately $2,700 a month in expenses; this number includes the kids college fund, GE direct investment, and life insurance policy. To your point, I do have 6 months of expenses in cash. Thank you very much for your responses, it is appreciated. The credit card has a $10,000 limit.
Is UVL valid option for couple who can not invest in ROTH IRA? Hi, we are considering investing into Universal Life , or Variable Universal life, or Whole life insurance. We can not invest into ROTH IRA due to income level. We are both 35 years old and are looking for this to help us make it between 55 when we would like to retire and 60 years of age when we can pull money from our 401k and IRA. Are these good options or should we stay away from them considering the fees? THanks
LIFE insurance questions... HELP!? My husband and I are wanting to get life insurance on my father n' law. He isn't over the age of 80. He has a few minor health conditions, but nothing serious. Never smoked, but "chews". We are wanting a $20,000.00 policy, just enough to fully cover funeral expenses, with a bit extra for whichever else may need to be paid off. I have no clue how to start the process. It asks me for universal, variable, etc different kinds of health insurance. What would be what I'm looking for? Any good companies with reasonable rates? Will he have to be medically examined? Any different information anyone could provide us with would be greatly appreciated. Thank You in advance.
Im a little confused on insurance. Help? Why does insurance need a large number of policyholders to make it work? And Whats the primary difference between a universal life and a variable life policy??
Help with business homework!? My teacher let everybody in the class take home their test and redo it since everybody in the class failed, so i really need some help on it! I would grately appreciate any help you give me with these problems. 1. _________ is not a type of term insurance. a. limited pay b. decreasing c. convertible d. renewable e. straight 2. The largest portion of health care costs pay for a. hospital expenses b. prescription drugs c. physicians services d. nursing home costs e. medical equipment 3. Dennis purchased a policy with an initial premium of $3,000 and may elect how much he desires to pay in premiums from now on. He has purchased a face value of $100,000 and can accumulate cash value. What type of life insurance has Dennis purchased? a. universal life b. whole life c. variable life d. term life e. adjustable whole life 4. If you needed a loan to buy furniture, the lowest interest rate would usually be available from a a. savings and loan association b. pawn shop c. captive finance company d. consumer finance company e. credit union 5. The probability of a loss occurring can be reduced by a. rish ovservance b. loss prevention c. rish assumption d. underwriting e. insurance 6. The ________ legally binds the borrower and lender to all items and conditions of an installment contract. a. note b. contract c. security agreement d. sales contract e. bond 7. Major medical plans are characterized by deductibles, internal limits, and a. benefit levels b. participation or coinsurance c. illness or injury frequency limits d. maximum surgical medical benefits e. sliding or decreasing premiums The next ones are complete the sentence. (A for the first one, B for the second one, and C if neither) This is where I got really confused. 1. Health care currently represents about (10.5 - 13.5) percent of US gross domestic product. 2. Medicare would pay (the entire - part of the) hospital bill for a covered person. 3. (Special purpose policies - Deferred premium life insurance) is highly recommended for college students. 4. (The government - Individuals) pay(s) a larger share of personal health care expenses than private health insurance. 5. The number one consumer complaint is now (identity theft - credit care fraud) according to the Federal Trade Commission. sorry for all the work.. it was just too confusing for me to do my own.. you dont have to answer them all or any at all, i just want a little help so i dont end up failing. thanks yeah apparently you dont know this class.. none of this is what we go over in class so we are on our own tryin to answer these...
Retirement Plan Options? I'm looking for additional retirement plan options and was wondering what else is available to us middle income earners? I participate in my firm's 401K. I have a Traditional IRA and contribute to it. I have a Roth IRA (recently opened to receive an old 401K via the 2010 Conversion). My wife has a Traditional IRA (spousal IRA which I fund on her behalf). We have a joint mutual fund account. I am aware of three types of annuities (immediate, variable, and fixed). I am aware of universal and whole life insurances (as part of a retirement portfolio). Have I left out any insurances? What else is out there that I should consider and research? I'm 44, I plan to fully retire at age 62 ~ 64 depending on the overall financial environment. I plan to sign up for Social Security benefits (at age 62) but will delay taking any payments for myself until age 70, although my wife (at age 63) will begin collecting benefits based on my earnings. I'd appreciate any ideas for me to consider and research. Thank you. Thanks so far for your inputs - we have zero children and only ourselves to rely upon. Thanks, keep 'em coming! We rent our apartment and do not own any real property (house, land, etc.). We don't foresee owning any real property as we will be living in another country and not the USA. I max out my 401K with $16,500. I max out my TIRA with $5,000. I max out my wife's Spousal TIRA with $5,000. I set aside $12,000 per year into our joint MF account. And I put aside about $18,000 into our emergency fund for rent and house bills for one year. I need ideas on what else to invest our money. Thanks. I already have a Term Life insurance policy to cover me in case I die. I brought up the Life Insurances because certain ones can be used as an investment vehicle ONLY; the "insurance" part of it I'm not concerned with because my Term insurance is the REAL insurance my wife will rely upon when I die. I'm retired US Air Force so I'll have an income, and medical insurance for life (regardless of the politics, even if I have to pay something for it). The reason I want my wife to begin receiving SS bennies based on my earnings is because she is a Homemaker and doesn't have enough "work credits" to receive SS in her own right. Plus, we can begin investing that income into our MF account. Thanks for the Boost Harry, I appreciate it. My income isn't huge but I manage it well enough to ensure I can set aside money intended for our future. I want to educate myself on what all the options are for us so I'll be better prepared for the future. My mathematical models project our total investment balances to be between $800K and $1.7M in CY 2030. I based my model on Future Value, 6% per year; if we "earn" more great but I figured this modest return was realistic to use for our model.
what type of life insurance should I get? Hello, I want to get a life insurance but have been confused over the last two days over which one i should get. Term whole Universal Traditional variable whole variable universal If there is any other type, please let me know. Please recommend one and why. Im looking into getting 250k up to 500k for 27 year male non-smoker 5'11" 240 pounds. Please if possible provide a company that may sell the one you recommend and pricing. I want something between 80-150 per month.
Should I invest in a Roth IRa or Variable Universal Life Insurance Policy? I have a 401k/ Not married, no children, but my advisor says it is wise to invest in a variable universal life policy while I am young (the premiums are lower) so it builds cash value to aid in retirement plus I will have the death benefit for later on when I am married and have kids. Susie Orman thinks this is a bad idea and that 401ks and Roth IRAs are the way to go. Other people think differently. I am confused on what to do and wonder if people who have actually signed up for a Variable Universal Life policy have actually seen the cash value results when they have retired. My illustration shows about $600,000 cash value when I am 70- that is with a 12% return. I am wondering if I should go with this policy or use the $200/month it would cost to fund this and invest it in a Roth IRA instead or put more towards my 401k. Any serious advice would help!
Should I invest in a Roth IRa or Variable Universal Life Insurance Policy? I have a 401k/ Not married, no children, but my advisor says it is wise to invest in a variable universal life policy while I am young (the premiums are lower) so it builds cash value to aid in retirement plus I will have the death benefit for later on when I am married and have kids. Susie Orman thinks this is a bad idea and that 401ks and Roth IRAs are the way to go. Other people think differently. I am confused on what to do and wonder if people who have actually signed up for a Variable Universal Life policy have actually seen the cash value results when they have retired. My illustration shows about $600,000 cash value when I am 70- that is with a 12% return. I am wondering if I should go with this policy or use the $200/month it would cost to fund this and invest it in a Roth IRA instead or put more towards my 401k. Any serious advice would help!
What is the best type of life insurance? Between whole life, universal life, variable life, and term.
Do I really want to put my savings in life insurance? Don't anyone find this a bit scammy? Come on. You have to be really dumb to do that. I'm not falling for this scam, no matter how hard this agent is telling me to buy this variable universal life insurance. Get great returns. Yeah, bs!
Life Insurance: Variable Life vs Whole Life, which one is really better? Is Whole Life premium more money than Variable Universal Life? I asked for a Whole Life insurance quote from one of the big insurance companies around, instead the agent tries to convince me that I should go with Variable Universal Life. He said Whole Life premium is always higher than Variable Life. He generated a printout for Variable Universal Life but not for Whole Life. I just want my premium to remain fixed in my old age and dont want the death benefit to fluctuate hence I prefer Whole Life. He stated that the death benefit is guaranteed for VUL. Is it really? I have a feeling it's not and that the premium for VUL will increase in my old age since it's dependent on my market investment. I'm beginning to think that his commission for selling Variable Life is more than selling Whole Life. I'm 37 female, non-smoker, in good health. I dont believe Whole Life premium would be that much higher than VUL. Any input is appreciated.
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