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The Water Cooler
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Life Insurance and death requests
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<blockquote data-quote="JD8" data-source="post: 2535615" data-attributes="member: 24"><p>Bad advice. Indexed Universal life is the way to go, you can pay, not pay, load it up in the front, strip it down and price it out to age 120 so it's like a term that goes to age 120 (guaranteed benefit) and there are a ton of riders to employ. Term is great when you are young and can't or won't fund a policy and/or you need high face coverage for your business. Otherwise, you have no guaranteed benefit unless you do return of premium and that doubles your premium. If an agent or company pushes the renewable part, they know at the end of that term, you won't be able to pay the premium as they'll jack it up so high, a majority of the time you'll just cancel. Whole life is essentially dead because most IUL products are seeing more returns and have significantly more options on what you can do with your money.</p></blockquote><p></p>
[QUOTE="JD8, post: 2535615, member: 24"] Bad advice. Indexed Universal life is the way to go, you can pay, not pay, load it up in the front, strip it down and price it out to age 120 so it's like a term that goes to age 120 (guaranteed benefit) and there are a ton of riders to employ. Term is great when you are young and can't or won't fund a policy and/or you need high face coverage for your business. Otherwise, you have no guaranteed benefit unless you do return of premium and that doubles your premium. If an agent or company pushes the renewable part, they know at the end of that term, you won't be able to pay the premium as they'll jack it up so high, a majority of the time you'll just cancel. Whole life is essentially dead because most IUL products are seeing more returns and have significantly more options on what you can do with your money. [/QUOTE]
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