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How is Axa's Variable Universal Life Insurance?

How is Axa's Variable Universal Life Insurance? Anyone have the policy? what do you think?

Public Comments

1. "Universal Life Insurance" is ALL a scam, designed specifically to make great commissions for the people selling it. That's why they will make this sound like the most attractive option for "your situation" by touting tax benefits, or growth potential, or some other twaddle... Think about it: why are you buying life insurance? So that if you die, you won't leave those behind with a "financial hole" to fill, right? If you buy term life that pays ten times your salary (ie, your surviving dependents will have 10 years to get over losing you and move on...) it will cost you a fraction of the Universal Life Insurance equivalent coverage. You can invest the difference between the two sets of premiums in a regular broad market mutual fund, and make out like a bandit. If you die, your survivors get a 10-years-of-your-salary lump sum, and if you don't, the mutual fund balance will be huge compared to the Universal policy payout amount. Do the math. And take a look at the commissions paid to folks who sell Universal life policies... Best wishes!
2. What Think said. And especially, do the math.
3. My dad used to have it until I replaced it with a 20 year term. Here are some negative things about it: 1) There is lots of hidden fees and expenses in it that affects the growth of the investments in the cash value. 2) There is a surrender charge 3) You may borrow your cash value at anytime and owe monthly interest on it (which makes no sense to me at all) 4) You lose all the cash value when you die. 5) Premiums are very high, even though they are flexible. Some positive things about it: 1) Growth in the cash value will be added to the death benefit. 2) The policy may pay dividends because you were overpaying your premiums for that year. 3) You can pay whatever premiums you want. There are two types of premiums: The minimum and the target premium. If you pay the minimum, there will be a very slow growth of cash value. If you pay the target premium, there will be a faster growth of cash value. 4) You can even skip the premiums. If you skip your premiums in the future, your cash value will be used to pay the minimum payment. Depending on how much cash value you have in it, you can stop paying for a very long time. The reason why I replaced it is because my dad wanted to keep investments separate from life insurance and also lower the premiums. You can only do that with term insurance. Plus the investments in the life insurance only had a rate of return of 4.5%, when the mutual funds itself had a rate of return of 9%. So there is lots of hidden expenses and fees when you put investments in the life insurance policy. If you put the investments into an IRA, you can capture the full 9%.