That sounds kind of gross.
Papillon..I saw that movie a few years ago. It was an old one, but anyway, he hid his money and it was pretty gross.
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That sounds kind of gross.
Dude - it isnt rocket science on WL. Now - UL is a different animal. But - I'm all for Buy Term & Invest The Difference. But - the client has to do both parts of the equation.
If they " Invest The Difference " for 30 years - they won't have a need for permanent insurance . . .
The "why" seems obvious. They need protection for the mortgage, child and surviving Spouse . . .
Term isn't a waste of money - it's accessing large amount of Death Benefit and Living Benefits at an affordable price. WL is a waste - due to most of them lapsing before they can cash out or get RPU. Just my opinion of course.
You should be a spokesperson for Primerica. They are also in the "kiddie pool" of financial services.
At the very least, the WL lasts as long as the insured does - assuming all premiums are paid. That includes guaranteeing the living benefits on the WL policy... whereas the living benefits on term expire when the term does... and obtaining more or new coverage is not necessarily guaranteed.
If they invest properly for those 30 years - it won't matter . . . If they don't invest - then they probably woulda lapsed a WL policy anyway.
You do realize that Primerica has sold more Term over the years than #2 thru #10 companies combined right?
You are the LAST person to give advice on large WL policies. Term is the waste of money... but is better than nothing.
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And tell me how well that would've worked if you were on target to retire the year 2000, 2001, 2002... or 2008. Actually, don't tell me. I already know.
You really need to study political economic policy, demographics, and other economic indicators to really realize that "past performance does not guarantee future results".
Whole life (and IUL) are non-correlated assets... but I don't expect you to understand what that means.