by Guest » Sun Jul 14, 2013 09:15 pm
I have a big policy with Lafayette Life, $450 permanent premium, $150
convertible term, $900 PUA can go up to $1400 PUA before MEC. I am only
6 months into it, it will come to fruition in about another 9 months when I pay off my first car balance with it freeing up $400 a month cash flow for more investments but of course repayment of that policy loan must be made up in there too.
I have another for my wife, Mass Mutual. It starts at 100% term and each payment converts that amount of term to permanent arriving at 100% permanent in 10 years. This feature is called LSIR. This also has their ALIR rider ( instead of PUA) that I elect to fund $2k up front first year cash deposit and then every year after to be paid at my schedule. I like this policy but I think this feature LSIR has higher fees and expenses but it also eliminates term insurance expenditure. I got this because it is funded by two small pensions and begins with high initial death benefit while avoiding term insurance expenditure, and is not intended to use for banking,
but using the ALIR annual $2k cash addition to get the poilicy up to self sufficiency several years early becasue my pensions funding it would stop on my death.
I am going to do a third policy, or second on my life, straight permanent, in about a year after some priorities are cought up. This will be with Guardian.
Just giving some backround that I know a little about this.
My question is for my daughter. She wants to start the banking concept, at age 26 and good combined income with her husband and available discretionary cash flow, She will want low term cost, highest cash value early, about $400 a month total premium. She may want the MassM ALIR feature that allows an
up front cash funding.
What is the best company for her to look at, for the purpose of a nominal permanent policy premium, the minimum term cost, and to maximize the cash value growth early? For example, I found out accidentally that MassM has this ALIR rider where cash value can be funded in lump sum up front and then flexibly each year after. It is hard to find what features each company provides. And I found out accidentally that
Lafayette is a top company out there that won't appear in routine internet
research.
Are there any other advice of good companies and good policy features. Are the top 3 in size necessarity the best?
If I don't see any more intormation we will probably do the MassM to get the ALIR feature. I am not sure if ALIR and PUA riders can combine in same policy.
convertible term, $900 PUA can go up to $1400 PUA before MEC. I am only
6 months into it, it will come to fruition in about another 9 months when I pay off my first car balance with it freeing up $400 a month cash flow for more investments but of course repayment of that policy loan must be made up in there too.
I have another for my wife, Mass Mutual. It starts at 100% term and each payment converts that amount of term to permanent arriving at 100% permanent in 10 years. This feature is called LSIR. This also has their ALIR rider ( instead of PUA) that I elect to fund $2k up front first year cash deposit and then every year after to be paid at my schedule. I like this policy but I think this feature LSIR has higher fees and expenses but it also eliminates term insurance expenditure. I got this because it is funded by two small pensions and begins with high initial death benefit while avoiding term insurance expenditure, and is not intended to use for banking,
but using the ALIR annual $2k cash addition to get the poilicy up to self sufficiency several years early becasue my pensions funding it would stop on my death.
I am going to do a third policy, or second on my life, straight permanent, in about a year after some priorities are cought up. This will be with Guardian.
Just giving some backround that I know a little about this.
My question is for my daughter. She wants to start the banking concept, at age 26 and good combined income with her husband and available discretionary cash flow, She will want low term cost, highest cash value early, about $400 a month total premium. She may want the MassM ALIR feature that allows an
up front cash funding.
What is the best company for her to look at, for the purpose of a nominal permanent policy premium, the minimum term cost, and to maximize the cash value growth early? For example, I found out accidentally that MassM has this ALIR rider where cash value can be funded in lump sum up front and then flexibly each year after. It is hard to find what features each company provides. And I found out accidentally that
Lafayette is a top company out there that won't appear in routine internet
research.
Are there any other advice of good companies and good policy features. Are the top 3 in size necessarity the best?
If I don't see any more intormation we will probably do the MassM to get the ALIR feature. I am not sure if ALIR and PUA riders can combine in same policy.
Posted: Thu Jul 18, 2013 02:45 am Post Subject:
guest-tim,
Because there are no other posts after mine, I have to assume that you were addressing me when you wrote:
I have no idea where you are coming from with these type of stamements (sic) and insults.
Which specific types of statements are you referring to? Furthermore; Please point out the part where I insulted you.
I told my associate, Max Herr, that I believed your plan was well thought out and I believed it would work fine. Provided, that is, you die in the next 10-15 years. Is that where you feel I've insulted you? If so, I guess I could apologize for breaking the news to you in that way. However, since I believe my level of experience and insurance education is light years ahead of yours, I think I'll hold off on my apology.
When Larry King discovered that he'd been misled to by his trusted insurance professional, he didn't call Suzy Orman and Dave Ramsey, he called me.
When Charles B. Benenson, who once employed Donald Trump, had a problem with High-profile trusts and estates lawyer Jonathan Blattmachr, he didn't call Suzy Orman and Dave Ramsey, he called me.
When Mr. and Mrs. Singh from Los Altos (I'm bound in this case) spent $60 million over 11 years on 8 different life insurance policies, guess who they didn't call? You're correct; Suzy Orman and Dave Ramsey.
I have absolutely no intention of arguing with you in this matter. Please carry on with your "varied" plan - I wish you nothing but luck with it. If, in the future you discover that you are going to outlive your plan, go onto Google and type in these words:
Life Insurance Fraud Investigator
If a class action suit hasn't eliminated any recourse you might have, we'll take a look at it and hopefully you won't have lost too much money.
Good luck and best wishes.
Mark J Colbert
Posted: Fri Jul 19, 2013 01:49 am Post Subject:
No I am not referring to you InsInvestigator, you have been a gentleman.
I will check out the Life Insurance Investigator link.
I don't know what you mean about outliving my policy.
My wife's policy is age 120 so not problem, my daughter's will
be 120, and my 2nd on my life will be 120.
The first policy is big for investment and banking. It will be scaled down by
converting term to permanent, and reducing PUA substantially in about 2 years.
But my priority is build up a tax free working capital base. When coverting term to permanent I will be aware to make a 120 age straigth WL
death benefit policy for my children.
My big Lafayette policy is 10 years pay, I intended to have paid up additions to finish inputting new premium payments
at 5-7 years. So I will need to find out what you mean about outliving my policy. I didn't see any indication of such a problem in my illustration, would I not remove the cash value at any time the cash value exceeds death benefit ( which would be my current thought to be removing the cash value for a variety of uses and income for example I may be retired overseas at 2k a year basic living expenses and do quite well when there is no SS or SS is paid in worthless currency ). My big policy cash value may serve many purposes as conditions change and occur.
My biggest fear is that this is dollar denominated and subject to all financial risks of paper and so I pursue other places to accumulate and store wealth as I can, currently I have no available new cash flow to store wealth until the main policy pays off two car loans. After one year I will be looking for a place to store about $800 a month.
InsInvestigator, I saw what you made appears to be a favorable view of obamacare. Here is quite a different source of information that you may or may not know about. In my preparations for the future, my premise is that everything they do is a disaster and I like WL because it is as far away from "them" as one can get.
look up youtube, denninger karl
"setting up for a financial crisis worse than 1929" about 3 days ago
I have many sources of information but this is topical about obamacare and other points of view that I am aware of and agree with.
I ran a professional investment site, I do stuff with stocks and stock markets that is proprietary mathematics. I am saying now that we have to about April 2014 and look for conditions and indicators then, as my model can change by then but this appears solid in my models.
In 2007, I found the feds own report that stated people withdrew and spent 7% of gdp out of home equity. While inflation was 3-5% and gdp growth reported 1-2%, I estimated the ecomony was contracting +2(gdp)-4(inflation)-7(debt fraud) = -9 giving them rounding benefits of doubt. So I do more than my mathematical model from a tangible factual top line key input level of macro interpretation. And the market collapsed one year later. I can't say exactly Apr '14 and don't attempt to.
I gave up my site when I was in new job start with relocation with divorce and my site was terminally hacked quite suspiciously, I think I got too close to the truth.
I may start it up but now my health requires that I reserve energy for my job and I am paid well and owe that to the job.
Of the shrinkage in my industry to almost nothing domestically, I am one of a handful of old timers still working, all gone to pasture, it does say something about my talent of course that doesn't make me right in all other things like insurance.
Posted: Fri Jul 19, 2013 02:47 am Post Subject:
a couple of key points with my thoughts of the denninger interview.
the actual cost of medical services is 20-25% of the cabalist extortion. This is document tangible fact by the cash only service providers and offshore medical systems. My plan is to use by policy cash as a reserve, with high deductible local policy and possible offshore catastrophic policy.
the system is a total disaster from top line fact, obvious but stated by Denninger, the money in the system, does not exist thus already dead on arrival. Imagine the fraud in 15000 new irs agents to enforce obamacare which is 30k on the payroll when the first lot is paid in retirement.
Top line fact, the money does not exist. My semi-retired dissabled coworkwer who just cut hours from 4 8's to 4'4's due to pain, is told when taking his wife in to apply for obamacare, his wife's premium is 9k a year, one person, on 70 gross income which is what, 50k net income? For two people 18k premium on 50k is 36% new tax.
So it is intentional mass wealth transfer to cabal intended to bankrupt all americans out of all their property.
Did I mention, I possess and want no registered, titled, taxable property and I like some safety and exemptions of WL relative to confiscation.
I am keeping and paying on two cars post bankrupt because they have no contract. I will have a big problem with these when they don't have a lien and have a confiscatible value, on obamacare tax confiscation which may be 25k annual on my gross. I may be overseas for this reason alone.
So in my work, my facility has improved 12% profitibablity by my hand. Anyone with a value, talent, contribution, working brain will be finding a way out leaving 100% food stamps and part time min wage class thriving because they have nothing for obamacare to confiscate and no hope or intention.
Posted: Fri Jul 19, 2013 04:31 am Post Subject:
This thread has now descended into somewhat incomprehensible and utterly ridiculous nonsense.
when taking his wife in to apply for obamacare, his wife's premium is 9k a year, one person, on 70 gross income which is what, 50k net income? For two people 18k premium on 50k is 36% new tax.
First off, there is no "Obamacare" to apply for. Health insurance is obtained from insurance companies, HMOs, and PPOs. Health insurance premiums are not a tax, just like your infinite banking life insurance premiums are not a tax. It's a voluntary contribution to an insurance company in exchange for a contract that provides certain benefits and details the additional out-of-pocket costs one may encounter.I don't know where you are getting your numbers from, but a silver plan for two persons age 64 in California will be about $16,560. A lower cost bronze plan is also available, as are more costly gold and platinum plans.
If you (or your friend and his wife) want to pay a tax relative to Obamacare, you can each pay the $95 "shared responsibility payment" to the IRS in 2014 (and higher amounts in subsequent years) and save the other $8985 you seem to think the health insurance will cost. Put that money into your life insurance and take it out as needed to pay your hospital and doctor bills. When you get really sick, then you can apply for insurance and be guaranteed coverage.
None of us in the insurance industry ever thought Obamacare was going to result in affordable insurance premiums, but apparently the labor unions who paid the politicians to vote for the ACA did. And now they're hopping mad about the fact that their members are being reduced in work hours to their employers don't have to provide them with the insurance they once had. What goes around, comes around.
Posted: Sat Jul 20, 2013 12:08 am Post Subject:
My number I refered to was not that far off, the coworker said 9K for his wife alone, if I assume 18k for both, is not far from 16.5 you referenced in CA.
I'm not worried for myself so much. Maybe a catastrophic offshore is doable just a thought I haven't looked into it, I am hearing reports of cash basis services acutally a big one in my state, sure I would pay the penalties for a time but then they later get huge. If I just a cold or flu type visit I have a walkin can use for $50 cash.I am worried about the assault on people in many ways and the effect on society which is my future too.I expect there is also something planned by reporting value of company benefits on the W2. They don't even try to hide it anymore.
Anytime we are assaulted I take it out of cabalist ass by pulling in participation and expenses another notch.
So I don't know and really don't need to know exactly what premium is on a younger family at say 65-70k median income with two working, as we know the state of the median class already, we know this is an assault among other things simultaneously and is not going to end well.
What I imagine is the the median and lower median families will have irs climbing up their ass, forcing them to max out credit cards and borrow out of 401k to pay penalties, while they remain in the same state, uninsured. If they dont comply, irs liens property and levies income. Then they go into BK chapter 13 slavery. Is this why they wrote 15000 new irs agents into an affordable care act bill?
I have a principal, not to have much of any available credit cards for irs to hijack. And I am against 401k, it may be the ultimate trap. When irs/obamacare forces them to borrow out, they pay double tax on new income to repay 401k loan, effectively 50-70% interest rate.
I am ending 401k additions this year, only using it for now in a tax adjustment for the rest of this year but temporarty in planning to maka a hardship withdrawal of it.
All these things keep pushing me to WL, annuity has some of the same exemption securities but not liquid. If and when WL is capitalized where I need it depending on politicaland economic trends, I do have a hope to begin funding a deferred income annuity but likely 2 years away to get there.
Posted: Sat Jul 20, 2013 02:05 am Post Subject:
More along the lines of speculation but a little common sense, for example cyprus and canada having codified the right to confiscate deposits, and legalized as well in US by stating that depositors are the unsecured creditors to banks, whereas banks and brokerage are the same entity, blah blah blah, I am subscribing to the theory that I want my money in the private mutuals that are outside the gov-bank crime wave. Apparently this is a trend from the asset growth rates of these companies and these macro trends ( this being very early and beginning ) can run a very very long time.
Posted: Sat Jul 20, 2013 02:21 am Post Subject:
I don't know how much of this information is being covered on this forum of if it is in the context of this forum, the "existing law" that bank depositors are unsecured creditors of the bank/brokerage, is the outcome of the MF Global case and one other commodity firm that did the same thing behind that. There was also some shady dealing involving changing the judge and venue until they got that ruling they wanted.
These things have led me to the mutual companies until there is some restoration of government and law and the vehicle I have chosen in the mutuals is WL because I need the liquidity instead of annuity.
Posted: Wed Jul 31, 2019 05:43 am Post Subject: ss__
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