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Cash value life insurance plan with Northwestern Mutual...
Posted on 6/3/15 at 11:08 pm
Posted on 6/3/15 at 11:08 pm
I know everyone's plan is different.
But in general what are the negative I should consider with this?
But in general what are the negative I should consider with this?
3
Posted on 6/4/15 at 4:34 pm to cjared036
It depends on why you are doing it, the funding amount, is it a traditional whole life plan or a high cash value plan. I think the main benefits of whole life is to take that 4-6% guaranteed growth and leverage that money with real estate, business, private equity, dividend paying stocks (whatever) to improve your cash flow and passive income.
If they aren't explaining that to you then they are doing a disservice to you ....in my opinion...
With traditional whole life you don't break even until year 14-15 as well...plus with with northwestern mutual if you take money out ( which they don't like) your Loan rate is 8% and ultimately there are better companies to work with with that feature. Having said that they are a strong life insurance company....hope that gives you some insight.
If they aren't explaining that to you then they are doing a disservice to you ....in my opinion...
With traditional whole life you don't break even until year 14-15 as well...plus with with northwestern mutual if you take money out ( which they don't like) your Loan rate is 8% and ultimately there are better companies to work with with that feature. Having said that they are a strong life insurance company....hope that gives you some insight.
Posted on 6/4/15 at 4:39 pm to cjared036
It's expensive, it's not a great investment vehicle. You should have filled up other pots of better savings vehicles first.
If you are an OT baller, and thus are in a position to consider whole life, Northwestern Mutual is the best out there.
If you are an OT baller, and thus are in a position to consider whole life, Northwestern Mutual is the best out there.
Posted on 6/4/15 at 4:43 pm to LSUFanHouston
If disagree 100% for several reasons-nw mutual is not the best out there---ohio national, mtl, mass mutual, and guardian work better as a more flexible whole life vehicle...in saying that northwestern is still a very strong dividend paying company...
Posted on 6/4/15 at 7:32 pm to player711
I did a replacement of an Ohio National policy several years ago and they were absolutely horrible to deal with.
Posted on 6/4/15 at 9:15 pm to Janky
Replacement of what?
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