Universal life insurance options and the drawbacks

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Fri Feb 12, 2010 2:49 pm   Post subject:   

No. All of the guarantees aren't removed. UL with a secondary guarantee has a guaranteed premium and a guaranteed death benefit.

InsuranceExpert
Senior member
Leave a quick message



Joined: 05 Apr 2009
Posts: 662


142.74 Dollars($)

PostPosted: Fri Feb 12, 2010 3:57 pm   Post subject:   

Quote:
No. All of the guarantees aren't removed. UL with a secondary guarantee has a guaranteed premium and a guaranteed death benefit.




and 60% less premium! Shocked


_________________

High Risk Life Insurance Quotes
dgoldenz
Senior member
Leave a quick message



Joined: 10 Jan 2009
Posts: 392

Location: Virginia
5.24 Dollars($)

PostPosted: Sat Feb 13, 2010 6:27 am   Post subject:   

I think it's good to have such a policy since we don't need to pay any interest under circumstances that we need to withdraw money for other purposes. This not the same with the WL policies!


_________________
Register Now to have your Insurance queries solved.
anonymous00
Guest







PostPosted: Sat Feb 13, 2010 1:28 pm   Post subject:   

Quote:
No. All of the guarantees aren't removed. UL with a secondary guarantee has a guaranteed premium and a guaranteed death benefit.




You and I both know there is a difference between regular old UL and SGUL, and that reference was made with respect to the former.
BNTRS
Senior member
Leave a quick message



Joined: 05 Nov 2009
Posts: 848


15.71 Dollars($)

PostPosted: Sat Feb 13, 2010 3:11 pm   Post subject:   

BNTRS, I don't have any doubt that you have an excellent understanding of this. Much of what I write is for the benefit for the vast majority of people who read these threads, but don't comment.

InsuranceExpert
Senior member
Leave a quick message



Joined: 05 Apr 2009
Posts: 662


142.74 Dollars($)

PostPosted: Fri Feb 19, 2010 12:36 pm   Post subject:   

Universal life insurance policies can offer you great returns but at the same time they are high risk. Consider this only if you know the market really well, and are confident that you have the time and inclination to monitor your investments through the years. The gains in these policies are always realized in the long term, so pulling out of the policy prematurely may not benefit you as much as staying with it for the long haul will.

If investment is your reason for a VUL, consider an affordable term life policy that will provide adequate coverage. You can then invest the difference in premiums (between VUL and term) in tax deferred investment vehicles such as annuities (life insurance accounts), IRAs, Roth IRAs and even educational accounts like the 529s. It is important to use a stable investment vehicle with guaranteed returns and great tax benefits.



Denise at AccuQuote

Disclaimer: I work for AccuQuote and this is my personal opinion.

Denise
New member
Leave a quick message



Joined: 18 Feb 2009
Posts: 2

Location: Wheeling, IL
2.21 Dollars($)

PostPosted: Mon Mar 22, 2010 2:19 pm   Post subject:   

Do you know what UL is? It has cash value....and if built correctly...the cash value grows far more than whole and the cash value passes on to the beneficiary....whole life dividends are normally just used to buy more insurance...why would I pay the same thing for a whole life policy that will always be say 100k, when I could buy 100k of UL and have it grow to 150k,200k,250k+ GUARANTEED.....


_________________
Register Now to have your Insurance queries solved.
trexler
Guest







PostPosted: Mon Mar 22, 2010 2:23 pm   Post subject:   

Quote:
Do you know what UL is? It has cash value....and if built correctly...the cash value grows far more than whole and the cash value passes on to the beneficiary....whole life dividends are normally just used to buy more insurance...why would I pay the same thing for a whole life policy that will always be say 100k, when I could buy 100k of UL and have it grow to 150k,200k,250k+ GUARANTEED.....






Probably because you don't know what you're talking about.... Wink


_________________

High Risk Life Insurance Quotes
dgoldenz
Senior member
Leave a quick message



Joined: 10 Jan 2009
Posts: 392

Location: Virginia
5.24 Dollars($)

PostPosted: Wed Mar 24, 2010 4:35 am   Post subject:   

Quote:
It is important to use a stable investment vehicle with guaranteed returns and great tax benefits.




Nothing like this exists. "Stable investment vehicles" are CDs -- certificates of depreciation -- tried outpacing inflation in a CD any time in the past 40 years? Ain't happening.



And might as well cross off US Savings Bonds, too, now that the Democrats have saddled future generations of American children with debt that will be impossible to pay off.



Quote:
And great tax benefits
-- LOL!! Given this past weekend's behind-closed-doors dealmaking that led to the "historic" 219-212 vote that has set America on the path to utter bankruptcy, the best tax benefit will be to become a citizen of your own country somewhere else in the world, and then ban all taxes.


_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7888

Location: Pomona CA
107.69 Dollars($)

PostPosted: Wed Jul 06, 2011 5:18 pm   Post subject: Insurance is Insurance - Not an Investment  

Although some may tout the "investment" component of permanent life insurance, insurance should not be considered an investment.. it should be viewed as what it is - insurance. It is a social product that creates a risk pool that policy holders pay into and hope they never have an event that makes them need to dip into the pool. Some life insurance plans may offer some additional benefits, but these should not be looked at as investments.. you'll only be disappointed in the "return". Generally, I think most average families that want an affordable plan would benefit from a term life insurance policy....usually this is the only type of plan people even consider. Here are some good sites to read about term coverage...


_________________
Register Now to have your Insurance queries solved.
Joe123
Guest







Quick Reply
Your Name
Subject
Message body
All times are GMT
 Previous  1, 2
Page 2 of 2


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 0.188 seconds.