re: Questions regarding IRAs

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Sounds like someone works at NWM... That was a great line of questions leading to a high commission product... like it came out of some notes even... Quick question, exactly who regulates the State Department of Insurance? Are there any surrender penalties and for how long? How much do you have to put in up-front? Monthly? What is the internal costs associated with it? What's the COI? If you have that much money, why do you need a loan? Is it a net zero loan? What if I lose my job and can't afford the premiums, get a divorce, or the market doesn't perform like the illustration? Asking for a friend...

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1) I've never worked at , nor ever will work at Northwestern Mutual. Please...
2) I don't sell High Comission Insurance Products. You and I both know that those are geared towards lining the pocketbooks of insurance agents, not the consumer. I have been doing this a long time and ultimately you don't know what you don't know.
3) The State Regulates Insurance Companies
4) The cost of insurance is cheaper than any insurance or investment fund that you know of... cheaper than Vanguard for sure. I can send you an excel spreadsheet if you want.,
5) There are no surrender penalties. There are only surrender penalties with universal life, overpriced whole life, and annuities.
6) You determine how much you want to put in, if you qualify w/underwriting. The consumer is in control.
7) you don't have to take a loan, but the r a son for it is because you have a greater need for financing than you do for protection. You die once, you make larger purchases and expenses every year.
8) The loan is Simple interest and the growth is compound interest. Therefore, structured like those all are "net zero" loans. You either sell indexed universal life or know someone that does.....
9) lastly, these contracts/policies are not dependent on the market. The owner of the policy is eligible to receive dividends and there are contractual guarantees. If you lose your job, divorce, wouldn't your whole financial landscape take a hit? Nonetheless, there are several ways (5-6) to avoid making premiums if something like that happened.. that all depends and is a much deeper question...

Usually I don't spell it out on here, but hope that helps your "friend"...??