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Message
re: Give me scenarios where whole life/VUL would be a good idea to own
Posted on 3/20/24 at 9:56 am to meansonny
Posted on 3/20/24 at 9:56 am to meansonny
quote:
you don't already have enough term coverage?)
Life insurance companies love Term policies because they are a huge money maker. Only 2% of term policies pay a death benefit.
As to the OP I would steer away from VUL due to there being no guarantees. Go with a WL plan that is offered by an A rated mutual company.
This post was edited on 3/20/24 at 9:59 am
2
Posted on 3/20/24 at 12:17 pm to La Place Mike
quote:
Life insurance companies love Term policies because they are a huge money maker. Only 2% of term policies pay a death benefit.
Is the stated goal to claim a death benefit on a term life insurance policy?
Or is the goal for an insured to outlive a term life insurance policy?
Serious question.
Posted on 3/21/24 at 7:49 am to La Place Mike
quote:
Life insurance companies love Term policies because they are a huge money maker. Only 2% of term policies pay a death benefit
Seriously?
That’s not the way to look at it. What you need to ask is how much in benefits is paid out to that 2% vs how much premium is collected.
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