Wait, what if the client only really wanted $1M death benefit policy, why are you looking at the cash value, if that wasn't the primary intent of the client?
If someone's goal is the protection instead of cash value, would the first design still be considered bad? For example, if a 30 year old male makes $100K/yr and has a wife and 2 kids under 18. Protection would be their primary focus because of his family
Good question, but that was not the goal of this person & this policy. If protection is the ONLY goal, the 30yr old should look at Term insurance as it is much more cost effective way to get death benefit.
@@CashValueLifeInsuranceReviews Let me add that protection + a retirement income stream is his goal. Once the kids grow up, he'd like to borrow against the Cash Value as a retirement supplement
Why are you should a policy structured at 1M face and only putting 1k a month? Of course it's going to look bad. But maybe the client needed life insurance instead of only cash value
I’m regretting about buying IUL. I have no cash value and they charge me every month almost 1/2 of my monthly premiums. I cancel my policy cause I did not see any growth. Transamerica is the worst company for insurance.
If you have left your job and you no longer want the policy what should you do?
Wait, what if the client only really wanted $1M death benefit policy, why are you looking at the cash value, if that wasn't the primary intent of the client?
The original design doesn’t break even until the surrender period is up. They didn’t use the min-nonmec solve option. I see it all the time.
What happens to the cash surrender money if someone passes away and you use the increasing to level on death benefit ?
If someone's goal is the protection instead of cash value, would the first design still be considered bad?
For example, if a 30 year old male makes $100K/yr and has a wife and 2 kids under 18. Protection would be their primary focus because of his family
Good question, but that was not the goal of this person & this policy. If protection is the ONLY goal, the 30yr old should look at Term insurance as it is much more cost effective way to get death benefit.
@@CashValueLifeInsuranceReviews Let me add that protection + a retirement income stream is his goal. Once the kids grow up, he'd like to borrow against the Cash Value as a retirement supplement
I have exactly the same problem and I'm concerned by it
What about their WL product for CV accumulation? Any opinion?
The Lifetime WL? For CV accumulation? No.
@@CashValueLifeInsuranceReviews did my own research.. not even a mutual company
Why are you should a policy structured at 1M face and only putting 1k a month?
Of course it's going to look bad.
But maybe the client needed life insurance instead of only cash value
I’m regretting about buying IUL. I have no cash value and they charge me every month almost 1/2 of my monthly premiums. I cancel my policy cause I did not see any growth. Transamerica is the worst company for insurance.
We are so sorry to hear this. It's why we keep making videos in the hopes to educate and inform to prevent this from happening.
How did you determine that just 200k death benefit was ideal for that person?
They knew the premium they could afford and wanted a Max Funded / Max Cash Accumulation design. This will lead you to the right DB.
thank you for this breakdown -
You're welcome! Glad you found our channel!
Guess what, everyday everyone gets a company life ins policies from other company to review lol