Life Insurance Vs Investment Account

elizavalentina

New Member
3
Hi everyone! I'm new to this forum but I have a few things to bring to your attention to those who are thinking of purchasing insurance and to the brokers who sell these products.

First I'd like to say that LIFE insurance should solemnly be used to protect your income if God forbid something were to ever happen to you. In my years experienced as an agent I will never sell WL or UL products to my clients. WHY? Because who wants to fund an account every month with 300 to 600 $ and then be told that they have to "borrow" their own money? You can just put that under your pillow every month and use your money whenever you please. Not to mention most of these cash value accounts work at a 4% and require you to borrow at an 8% loan interest. Please be smart and buy Term.

I had a client paying 155 a month for 150k and according to the guaranteed section of the illustration she wasn't going to have a policy in 10 years.... I gave her 150 a month for 500k

Go figure.

If you want to have an "investment" account and actually grow your own money I suggest opening a mutual fund, IRA, Roth IRA where your money will grow up to 15%

this post is not for the purpose to offend any agents, it is only the way I work with my clients.
FEEDBACK IS WELCOMED :) have a nice day
 
You sound like this *** too:

Why you shouldn't push whole life | LifeHealthPro


Let me give you a clue: EVERY legitimate financial product has a market and has a legitimate use for it.

Permanent life insurance is NOT a 'need' product. It's a 'want' product. It can do a lot of things that people WANT to have. Until you learn what those 'wants' are... you won't sell it. And that's fine.

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Hi everyone! I'm new to this forum but I have a few things to bring to your attention to those who are thinking of purchasing insurance and to the brokers who sell these products.

Yep, you're new and green to the forum.

First I'd like to say that LIFE insurance should solemnly be used to protect your income if God forbid something were to ever happen to you.

Yes, correct.

In my years experienced as an agent I will never sell WL or UL products to my clients. WHY? Because who wants to fund an account every month with 300 to 600 $ and then be told that they have to "borrow" their own money?

You don't know anything about permanent life insurance.

Here's a hint: it's not your money. That money is used to secure the death benefit. You do have non-forfeiture rights to access the cash values - to borrow or withdraw for your own use... which will lower your death benefit.

There's more to this... but I'm not going to give it to you.

You can just put that under your pillow every month and use your money whenever you please. Not to mention most of these cash value accounts work at a 4% and require you to borrow at an 8% loan interest. Please be smart and buy Term.

Earn 4% isn't bad... but to borrow at 8%? Care to back up that claim?

I had a client paying 155 a month for 150k and according to the guaranteed section of the illustration she wasn't going to have a policy in 10 years.... I gave her 150 a month for 500k

That's an underfunded solution... and that's without knowing if that was an IUL or a UL. IULs thrive on market volatility of the particular index segment.

Go figure.

If you want to have an "investment" account and actually grow your own money I suggest opening a mutual fund, IRA, Roth IRA where your money will grow up to 15%

Please show me where you can guarantee 15% year over year? Please also reference your securities license where you can make such recommendations.

You sound like Dave Ramsey. He gives lots of "generic advice" too... with no qualifications.

this post is not for the purpose to offend any agents, it is only the way I work with my clients.
FEEDBACK IS WELCOMED :) have a nice day

Nope. This post is to show how ignorant you are about people, finance, insurance, investments, and compliance matters.
 
Good advice. I'll tell my clients who want to leave a legacy or do estate planning that they should just buy term (which won't be there if they live too long) and invest the difference in something that may earn 15% (or lose 40%). I'll let them choose where they'd rather put their money.

People buy guarantees and there are plenty of uses for permanent insurance. Then again, if you work the bottom of the market (same people Dave Ramsey, etc. market to) maybe term is the best thing for you to be selling. Just don't think that's the market the rest of us go after.
 
Because who wants to fund an account every month with 300 to 600 $ and then be told that they have to "borrow" their own money? You can just put that under your pillow every month and use your money whenever you please. Not to mention most of these cash value accounts work at a 4% and require you to borrow at an 8% loan interest. Please be smart and buy Term.

If you want to have an "investment" account and actually grow your own money I suggest opening a mutual fund, IRA, Roth IRA where your money will grow up to 15%

Naked gun facepalm gif (don't have enough posts to include the gif in my post, which deserves a facepalm gif for requiring x number post before being allowed to post a pic)
 
(Test) Am I allowed to post on this forum?

***edit*** my first response said it had to be approved by a mod before showing up. This site isn't very user friendly, now I remember why I just read this forum don't post anything.
 
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Hi everyone! I'm new to this forum but I have a few things to bring to your attention to those who are thinking of purchasing insurance and to the brokers who sell these products. First I'd like to say that LIFE insurance should solemnly be used to protect your income if God forbid something were to ever happen to you. In my years experienced as an agent I will never sell WL or UL products to my clients. WHY? Because who wants to fund an account every month with 300 to 600 $ and then be told that they have to "borrow" their own money? You can just put that under your pillow every month and use your money whenever you please. Not to mention most of these cash value accounts work at a 4% and require you to borrow at an 8% loan interest. Please be smart and buy Term. I had a client paying 155 a month for 150k and according to the guaranteed section of the illustration she wasn't going to have a policy in 10 years.... I gave her 150 a month for 500k Go figure. If you want to have an "investment" account and actually grow your own money I suggest opening a mutual fund, IRA, Roth IRA where your money will grow up to 15% this post is not for the purpose to offend any agents, it is only the way I work with my clients. FEEDBACK IS WELCOMED :) have a nice day

I'll take that 15% investment all day long. Where do I sign? Is there any fine print that I need to know about?
 
If you want to have an "investment" account and actually grow your own money I suggest opening a mutual fund, IRA, Roth IRA where your money will grow up to 15%

(one more kick for this dead horse) Because that 15% is always guaranteed right? But only "up to" 15% never 15% <

If you opened that "investment" account in 2008 you killed it that year...or killed yourself. :1err:
 
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