My Insurance Haven Everything you want to know about insurance

1. 

   wodendog
   April 24th, 2011 - 16:36

   @BeyondAverageLlife: What would you have advised in that same situation if it had been WL instead of UL and no CV had been taken out in the past by the policy holder?
2. 

   BeyondAverageLlife
   April 24th, 2011 - 17:13

   Invest the $42k draw off $200p/m (5.25% of the value) to help pay premiums, saved them $102p/m in the budget. Increased coverage by $100,000 and they would actually keep the investment instead of loosing it to the ins company if he passed. At the rate the UL policy was going it would have lapsed in 4 to 5 years. After 15 years the hypothetical investment account value will have paid for $36,000 in premiums and will have $48k, $6,000 more than we started with. (Actual market history 1996-2011)
3. 

   BeyondAverageLlife
   April 24th, 2011 - 18:03

   @wodendog In almost every case. There are of course exceptions usually dealing with insurability or older clients. Example of a recently replaced policy for a 68 year old- UL,$42k in CV,$200,000 DB. $186p/m. Replaced with $300,000 15 yr gaur renw to 95 term. Cost $284 per month. The UL policy was loosing CV quickly because they could not afford to increase their premium to match the increasing cost of the policy. Continued above…
4. 

   wodendog
   April 24th, 2011 - 18:56

   @BeyondAverageLlife: I agree with some of what you say, though 99.9% I believe is likely too high a figure. Let me ask you this. When you come across Permanent products do you always replace them?

   Check out my earlier posts on the previous page and let me know what you think.
5. 

   BeyondAverageLlife
   April 24th, 2011 - 19:20

   In addition, assuming they did acumulate enough to live on. In order to use it in retirement you have 2 options. Borrow your retirment from the policy at interest. Or, withdrawl the Cash Value and the policy is toast. Now you seem to think I’m not a very bright guy, but please explain to me how that makes any financial sense. Stop protecting your commision and admit that in 99.9% of cases low cost, high quality term coupled with a long term investment program makes the most sense.
6. 

   BeyondAverageLlife
   April 24th, 2011 - 19:39

   @evergreenwealth Please dont assume that because I market Term I am uneducated! I am extreamly educated on UL, VUL, ROP, WL and any other blend that an Insurance company can come up with. Like I said, and you did not adress, why in all my years have i yet to meet a client wealthy or not that has a policy that preforms as projected in the policy or that they are living off of the accumulation in the policy? I continue to be assured theyre out there by people like you, but have yet to see it.
7. 

   evergreenwealth
   April 24th, 2011 - 20:28

   @BeyondAverageLlife

   To add to the last e-mail comments: There are many ways to pass wealth on to future generations without life insurance, but the IRR can be more effective for higher income individuals. You might not be familiar with this, but some day you may learn and understand how higher income people generate possible tax free wealth using there own money, by using permenant types of policies, not term.
8. 

   evergreenwealth
   April 24th, 2011 - 20:44

   @BeyondAverageLlife

   You should know that are different types of policies out there besides Whole Life, which I never discussed in my prior e-mail. I said permanent types of life insurance. If you think the answer is only selling term, I feel sorry for your and your clients. I guess you are not familiar ; so here are the types Level Term , Guaranteed Universal life, Variable Universal life, Blends of these with term and permanent. Indexed Universal lifes, different types of whole & blends
9. 

   BeyondAverageLlife
   April 24th, 2011 - 21:32

   There are plenty of opportunities outside of a life insurance policy to pass wealth to future generations, even for the wealthy. Why in all my years have I not met ONE SINGLE person living off of the “wealth” they’ve acumulated in their policy? And, why I have I yet to see a policy that acctually has performed as projected in the policy? Smoke and mirros buddie? Keep selling it too and I’ll keep replacing it and looking like a hero to the families I save from your garbage Wole Life policies.
10. 

    evergreenwealth
    April 24th, 2011 - 21:36

    This guy should stick to selling Term. I like how he makes blanket statements of how life insurance works, just like Suzy Ormann. Not all the facts he discussed are accurate, but Permenant types of contracts can help people that want to pass more on to future generations to help them out or for higher income earners that cannot do a Roth IRA and want possible tax favorable income. Term is usually appropiate, but not in all cases.
11. 

    42prissy
    April 24th, 2011 - 21:57

    Sorry but this guy is brainwashed. I love it when I get the opportunity to sit down with a customer and compare his company views with the truth. It’s usually an easy sale unless the customer is one of his relatives. I wish I made those kind of commissions on permanent life but simply not true. Good try. Find a real company that trains you based on facts.
12. 

    jiminycricket18
    April 24th, 2011 - 22:27

    Don’t leave your loved ones high and dry. Make sure you are properly insured.
    Call this toll free number 877-855-1784 to get a free term life insurance quote from top rated companies.
    A specialist broker will speak to you and to discuss which policy best suits your requirements and budget.
    Take the time to make sure you are taking care of your family. Who will if you don’t?
    It’s just one phonecall 877-855-1784.
13. 

    karthik400
    April 24th, 2011 - 22:45

    Good comparison. Thanks
14. 

    hj1016
    April 24th, 2011 - 22:46

    Mostly LIES!

    98% of TERM insurance policies go unpaid – people outlive the term. Then, all of your premiums are LOST.

    At 3:20, 5%-8% “fee”??? Policy loans cost interest, but the good cash value policies credit the same rate to the cash value as to the loans, to the loans are “wash loans”, and do not cost you a penny. Try borrowing money from the bank at 0%.

    At 3:33, Why would you drop coverage? Only if you grossly mismanage your policy.

    DO NOT TRUST THIS GUY!
15. 

    insurancemike10
    April 24th, 2011 - 22:48

    Here is a good Primerica example – 45 year old – $1,000,000 for 20 years and 30 years – Male for 20 = $1995, for 30 = 2435 (annually for both) – females are charged the same. Pru, ING and Trans for same policy – ave male at 20 = 1200, at 30 = 1900, Here’s the best – female ave at 20 = 900 and at 30 = 1400 – They use unisex rates which hurts the females – to pay monthly they then charge 14% of premium – run people run

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