Replacing a variable Whole life on a 25 year old
- Thread starter inreverse
- Start date
- 17,038
Just be real careful. You aren't licensed to make recommendations on investments (unless you are.) They need to come to that decision on their own.
I would just show them what they can buy from me. Let them do their own research and deciding about whether to keep their variable or not.
I would just show them what they can buy from me. Let them do their own research and deciding about whether to keep their variable or not.
- 11,451
You can propose an alternative, but you cannot make a "recommendation". See the sticky thread in the annuity forum for some excellent ideas and guidelines.
If you're going to do a 1035 exchange from the old policy, make sure you check the licensing requirements of the new company. Some may accept and some won't without securities licensing.
Just remember that a "variable whole life" is a VUL that also gets a non-guaranteed annual dividend from the insurance company. Otherwise, they're essentially the same thing.
If you're going to do a 1035 exchange from the old policy, make sure you check the licensing requirements of the new company. Some may accept and some won't without securities licensing.
Just remember that a "variable whole life" is a VUL that also gets a non-guaranteed annual dividend from the insurance company. Otherwise, they're essentially the same thing.
- 11,451
Variable whole life exists. It is offered by mutual insurance companies and they are participating in the company's dividend performance. That's primarily what makes them different from VUL - which does NOT receive dividends from the mutual company.
My father has one from MassMutual. Here's a link for prospectuses from Northwestern Mutual and a few of their variable whole life policies.
Variable Life Prospectuses, SAI, Annual and Semi-Annual Reports | Northwestern Mutual
- 25,900
That's an actual product...
- 5,836
Talking to yourself it seems.
Lloyds of Lubbock
Guru
- 746
I think Variable Whole Life was on the market before VUL.
