aaron p
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Compliant language 101:
Rule #1. Never say always.
Rule #2. Never say never.
Rule #3. If a conditional form exists, you should consider using it.
Please note that Rule #3 is a half-joke, and Rules #1 and #2 may not always be true. |
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kyledeen
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You can't say "never"...but be wary. If you are selling "life insurance," you aren't supposed to SELL it as an investment. Its primary purpose is for protection of assets/estate planning/mortgage protection/etc. etc.
There are certain life insurance contracts that are known as VARIABLES that have an invested seperate account (the part of the LI contract that earns interest/makes money/reinvests dividends/etc, but...its primary purpose is protection.
There are several Whole Life/VUL's out there that, if you stick to them and pay the TARGET (KEY WORD) premiums, you will be handsomely rewarded in 10-15-20 years down the road for your sacrifices now. BUT, if someone is selling LI as an "investment," they are doing so in a manner that is fundamentally wrong and, in some cases, illegal.
JKD |
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src50
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The PRIMARY purpose of life insurance is to protect survivors by replacing your lost income. It is not primarily an investment for you (sorry, insurance salesmen). |
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Carrie
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it can be used as an investment, but only to a certain point. if the policy does earn cash value, then upon a withdrawal or surrender of the policy, it may cause the funds you receive to be taxable. it depends on how much you put in vs. how much you actually receive. if you leave the cash value grow in your policy and it starts getting close to the amount of the death benefit, the death benefit will increase to stay above the amount of the cash value to stay in accordance with life insurance regulations. |
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Advisory Service
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"There are several Whole Life/VUL's out there that, if you stick to them and pay the TARGET (KEY WORD) premiums, you will be handsomely rewarded in 10-15-20 years down the road for your sacrifices now. " - Kyledeen
You are a hypocrite. |
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Common Sense
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If you consider Life Insurance an investment; Consider Life Insurance one of the worst investments you've ever made.
Better to buy 30 year "certain" term. Pay one rate for pure protection and invest the extra amount into a good, conservative, equity/income mutual fund from Vanguard or T. Rowe Price. |
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Mark S
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As an insurance agent, it was made very clear to me that any agent who is securities licensed are the only ones who can sell variable and universal policies- where "savings" is put into mutual funds/stock market. These agents CANNOT legally represent these policies as INVESTMENTS. If they do, they can be turned in to their state insurance commissioner for sanctions and/or loss of license.
This was reiterated many times in code and ethics as well as when we were taught the specific types of insurances out there. |
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Josh
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It definitely CAN! I like to have the confidence , that if something happens to me (god forbid) that my family wil be taken care of! |
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my first and only love
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are you planning to kill someone for the insurance. |
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tymmy
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VERY interesting guide info about your Question HERE:
http://all-insurance-online.blogspot.com
Good luck! |
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