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... |
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Larry A | Does anyone know if variable life insurance is a good investment tool? |
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 |
 
Doing the Right Thing
|
Investing with any life insurance policies are always never a good idea. You ask any life insurance agent, not a single one of them own such policy. Majority owns term and invest the difference.
A client of my own variable life insurance. What he doesn't know that these investments is to build the cash value. What is cash value? It is a savings plan in a life policy. If you wish to use it, you would have to borrow it and pay back with interest. If you were to die, your beneficiary will only get the death benefit and all cash value is kept by the insurance company. (this is stated in every cash value policy) |
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bruce d
|
It does accumulate value, however put your money in real estate, your return will be immediate in this market, and your investment will never depreciate. Variable life should be included in your portfolio, but don't count on it making significant return. Your family will thank you when this investment returns for what it was designed for, your final expenses! Watch out for aggressive sales tactics, this industry is full of hungry folks looking to sell you something. |
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v12750ilbmw
 |
it's a "safe" investment tool. works a lot like a mutual fund but with lower risk investments. what's good for you may not be good for someone else and vice versa. |
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thedoc64118
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It is not at all a good investment tool, as matter of fact, it's illegal to sell it for that "benefit". You will never get a dime of your money back. It actually states in the contract that the cash value/"investment" and any gains on that value is of ownership of the insurance company and not the insured(which is you). Start an IRA, that's a good idea. |
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Dave
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In General, variable life insurance can be a good investment tool, mainly because of its tax derferred growth. However, in most cases the fees are very expensive, and can cut into growth significantly. Term life insurance is significantly cheaper. In most cases you would be better buying term insurance, and investing the difference (preferably in another tax deferred account ie IRA, 401K) |
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barry_bonds73
 |
What if someone wants tax free retirement income but has too much income to qualify for a Roth IRA? Where can I get tax-deferred growth and tax free withdrawals?
People who think that "Buy Term and Invest the Difference" works for everyone are very misguided.
Permanent Life Insurance is another source of tax-advantaged retirement income. If funded correctly, a VUL makes a lot of sense in the right situation.
You can invest as aggressivley or as conservatively as you want inside a VUL. It all depends on your risk tolerance. |
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Ted
|
No Its not safe as previous person said.
part of the premium is invested in mutual fund which has no guarantee. however there are certain plan that gives you some kind a guarantee so read fine prints.
VUL is a good but it's not for everyone. It can be used in many ways, from retirement to family income replacement to estate planning.
make sure u understand the risk before you buy. |
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tigertiggerii
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The issue with Variable Life is while you are alive, your premiums are based on cost of Insurance(which just went down), market performance, and company expenses. Millions of policy holders received letters after 9/11 saying they would have to put in more premium to keep the policy alive. If you are interested in cash accumulation, I would recommend looking at equity index life, they have guaranteed floor rates and you can take advantage of the market performance. I would recommend you contact Matt at Denver West Insurance Professionals, Inc. if you would like more information and perhaps a quote. mattb@benefitsblvd.com |
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goodguy
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At one point it was. Now there are better products out there. Such as return of premium term. That means you get your premium money back, if you don't use the coverage. |
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