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More than mortality tables changed as why UL policies sold in the 80s might be exploding. Not every agent illustrated policies that had no chance of performing but many did either through greed or ignorance.
Suze Orman
- Thread starter OHFE
- Start date
More than mortality tables changed as why UL policies sold in the 80s might be exploding. Not every agent illustrated policies that had no chance of performing but many did either through greed or ignorance.
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Exactly. Also a lot were sold and the client picked a lower premium.
BillBateman
Expert
- 22
Somewhere along the way she decided she had learned enough about her topic to quit learning. I'm thinking she read an AL Williams book from the 80's and decided she knew everything about insurance
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Pretty sure she lost money with her broker sued said brokerage and then went to work for them.
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I've always wondered why financial advice isn't considered from the top down? Consider seniors of today. They for the most part lived through the meat of the BTID era. How has it performed as whole? Why is FE such a huge market? Does it really make sense for the average person to be heavily weighted in equities close to retirement or later ages?
I've seen first hand the challenges of the retired and for the most part I have learned at retirement it's best to be debt free and know what income is guaranteed.
It would be great if someone could do a should have study looking backwards from the perspective of a senior to the beginning of their working life using today's products. That way there would be some sort of window to peer through. It would kind of be like a person starting out at say 25, single or married.
Thinking about it that may be hard to do. Too many variables.
I've seen first hand the challenges of the retired and for the most part I have learned at retirement it's best to be debt free and know what income is guaranteed.
It would be great if someone could do a should have study looking backwards from the perspective of a senior to the beginning of their working life using today's products. That way there would be some sort of window to peer through. It would kind of be like a person starting out at say 25, single or married.
Thinking about it that may be hard to do. Too many variables.
NancyFL
Expert
It never made sense to me that people can run their mouths all they want about insurance and give out terrible advice all they want and it's perfectly okay. We have an organization here in FL call "Shine" and they tell people that agents are crooks and then they proceed to give people terrible advice. It's a volunteer organization run by people who don't have a clue.
That should not be allowed! If we sneeze the wrong way, we can get in trouble.
That should not be allowed! If we sneeze the wrong way, we can get in trouble.
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"" Joan. I agree with some of what Dave Ramsey says, some of it is just common sense. However, if i out live my term policy, Dave is not going to sell one of his homes to write my family a check."
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I agree , too in the right circumstances and as long as people are educated by me as to realities of it. That it is a temporary fix not something to count on. Isn't Suze's main argument , buy term and invest or save money in addition? IE , buy cheap term and save money from getting more expensive whole life.
The whole problem that I see is we Americans do not save money , so who is she trying to kid here? People need to wake up and actually think and really plan for the future. Instead of putting bandaids on it and deluding thierselves. I just had a brilliant client pull the Suze Orman term on me yesterday. She also insists she can get a term with no underwriting.
No underwriting or no medical exam?
- 25,900
Some of the SITerm sure makes it seem that way doesn't it? Sagicor term can be approved in 120 seconds or sooner.
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