For those who don't understands life insurance, when he was talking about the "Guaranteed" section of the IUL he intentionally neglected to clarify that the illustration "assume" the economy will tank in the red for the next 30 years (or however long the cash value will cover to) and you'd only be credited the guaranteed rate. Now, if the US economy is in the red for 30 plus years your life insurance policy would be the last thing you want to worry about. Also, it's easy to simply say this policy costs that much and that one costs this much. It would be nice to see the actual illustrations. I think a good agent need to tell the clients all sides of the products and let them make the decision.
I think people are far too concerned about what happens when a term policy expires. If your term lasts until you no longer have dependents or aren't going to need to work anymore and then expires, then the insurance was worth it because you had coverage when you needed it.
Hi Helen, The pandemic didn’t cause insurance rates to increase. Life insurance is still very affordable. If you’re referring to sudden and/or traumatic health issues experienced post-pandemic, this would be reflected in insurance costs for anyone with those specific health issues at the time of underwriting. Your age, health, and the type of policy you purchase all play a part in how much the insurance costs. If you are in good health, you will pay less for your insurance than someone who is not in good health. Would like to see what a life insurance policy could look like working for you? We would be happy to design a policy quote for you.
Luis Ayala I’d say term is the best, all the money you save from buying term can be invested to produce more money than the whole life could ever offer if you take the money out, Plus if the death benefit is payed out you lose all the money saved In the account in a whole life plan
State Farm does not offer a Paid Up Additions Rider. The Paid-Up Additions rider is what makes the policy accumulate Cash Value so fast. You can get a much better policy with a company like Ohio National. Here is an video talking about how the PUA rider works, and how to read an illustration: www.life-benefits.com/videos/reading-an-illustration/
WTF are you talking about here. What IUL doesn’t build cash value grater than you put in only a stupid agent would structure the policy in the way your showing. And what about the retirement income aspect
the best type of insurance is insurance that is forced upon you...just like ALL auto insurance. it is forced , legalized , extortion....nothing short of criminal but legal
Not scams exactly but they do make insurance companies money at the ratepayer's expense. IMO if you have dependents it's a good idea to have term insurance. Beyond that most insurance products are just really expensive and tie up your money in complex ways.
the best type of insurance is insurance that is forced upon you...just like ALL auto insurance. it is forced , legalized , extortion....nothing short of criminal but legal
For those who don't understands life insurance, when he was talking about the "Guaranteed" section of the IUL he intentionally neglected to clarify that the illustration "assume" the economy will tank in the red for the next 30 years (or however long the cash value will cover to) and you'd only be credited the guaranteed rate. Now, if the US economy is in the red for 30 plus years your life insurance policy would be the last thing you want to worry about. Also, it's easy to simply say this policy costs that much and that one costs this much. It would be nice to see the actual illustrations. I think a good agent need to tell the clients all sides of the products and let them make the decision.
I think people are far too concerned about what happens when a term policy expires. If your term lasts until you no longer have dependents or aren't going to need to work anymore and then expires, then the insurance was worth it because you had coverage when you needed it.
I'm an insurance agent. If I had invested the $2,491 into an index fund, mutual fund, etc. and averaged 7% annually, then I'd have $235,000.
Exactly the calculation in the video ignores the opportunity cost.
Hi this video is six years old. In light of what's been happening since the pandemic, is insurance still affordable?
Hi Helen,
The pandemic didn’t cause insurance rates to increase. Life insurance is still very affordable.
If you’re referring to sudden and/or traumatic health issues experienced post-pandemic, this would be reflected in insurance costs for anyone with those specific health issues at the time of underwriting.
Your age, health, and the type of policy you purchase all play a part in how much the insurance costs. If you are in good health, you will pay less for your insurance than someone who is not in good health.
Would like to see what a life insurance policy could look like working for you? We would be happy to design a policy quote for you.
sounds like the narrator is biased and has a preferred choice of a policy. I've always heard WL sucks. does he show where the money will be taxed etc?
Disagree? Then, what is your case for the Best Type of Life Insurance?
Yeah he also forgot to mention that who ever you while life insurance company is. They will still tax a percentage on the 74,730$ cv.
Luis Ayala
I’d say term is the best, all the money you save from buying term can be invested to produce more money than the whole life could ever offer if you take the money out,
Plus if the death benefit is payed out you lose all the money saved In the account in a whole life plan
Does Statefarm have good Wholelife insurance?
State Farm does not offer a Paid Up Additions Rider. The Paid-Up Additions rider is what makes the policy accumulate Cash Value so fast. You can get a much better policy with a company like Ohio National. Here is an video talking about how the PUA rider works, and how to read an illustration: www.life-benefits.com/videos/reading-an-illustration/
Look for a participating whole life company
You are not compare apple to apple in this case.
Why not?
Actually thats exactly what he did 😅 do more research
IUL policy with no cash value after 5 years is not structured correctly
WTF are you talking about here. What IUL doesn’t build cash value grater than you put in only a stupid agent would structure the policy in the way your showing. And what about the retirement income aspect
the best type of insurance is insurance that is forced upon you...just like ALL auto insurance.
it is forced , legalized , extortion....nothing short of criminal
but legal
I dont pay car insurance
The best type of life insurance is to have non..they are all scams
Not scams exactly but they do make insurance companies money at the ratepayer's expense. IMO if you have dependents it's a good idea to have term insurance. Beyond that most insurance products are just really expensive and tie up your money in complex ways.
the best type of insurance is insurance that is forced upon you...just like ALL auto insurance.
it is forced , legalized , extortion....nothing short of criminal
but legal