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Re: Cash Value Life Insurance
[Re: jbatey1]
#4078722
02/06/24 05:57 PM
02/06/24 05:57 PM
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Joined: Mar 2015
Posts: 5,321
FL
mw2015
12 point
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12 point
Joined: Mar 2015
Posts: 5,321
FL
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I know it’s always been around, but all of a sudden it seems like everyone is pushing it.
I’ve got a group trying to sell it on me as a form of financial planning/wealth building. I’ll be honest, I don’t know much about it and every time I read about it or study it, I can’t find anything decisive to sway my mind away from what I was always told about it growing up. (Just buy term and invest the extra). I also don’t like dabbling in things that I have no knowledge in.
What do the Aldeer experts say about it? IULs are popular with wealthy folks like doctors and lawyers because you can build some cash value and there may be tax advantages. Used to be extremely popular years ago but tax law changes reduced some of the benefit. IT IS NOT AN INVESTMENT. IT IS INSURANCE. If you just want to protect your family term is your less expensive option. I would never suggest an IUL for just anyone. There are suitability standards folks need to meet to even consider that product. It’s a matter of being ethical as an agent. Be careful with IUL and VUL offerings and read all disclosures carefully. If you don’t understand make the agent explain it to you before you consider pulling the trigger.
Michael Warren CPIA Your trusted insurance advisor. ALDEER SPONSOR OUTDOORS/RECREATIONAL, HUNTING LEASE LIABILITY, BUSINESS & LIFE/HEALTH INSURANCE IN FL AND AL http://mikewarreninsure.commikewarreninsuranceagency@gmail.com Agency phone (954)884-8253
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