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Started By
Message
re: Indexed Universal Life policy. Who has done it?
Posted on 7/28/23 at 12:33 pm to GeauxTigers777
Posted on 7/28/23 at 12:33 pm to GeauxTigers777
quote:
The returns are based off stock market historical averages.
Past results are not indicative future results. That disclaimer exist for a reason.
quote:What if it does? What if we go through a depression worse thatn the 30's? What if the United Sates Government we know today no longer exists? What is the Governemnt decides to tax the hell out of all investments? There are alot "what ifs". We can what if all day.
What if the life insurance company goes insolvent?
0
Posted on 7/28/23 at 12:49 pm to La Place Mike
quote:
What were you shown that convenced you that buying term investing the rest works?
I've personally seen over a dozen instances where whole life and indexed UL have blown up on people.
I have never seen a term policy break before someone's eyes.
Posted on 7/28/23 at 12:55 pm to meansonny
quote:
I've personally seen over a dozen instances where whole life and indexed UL have blown up on people.
I have personally seen people lose almost all their money in the market and have to go back to work in their seventies. I just love anecedotal evidence.
Posted on 7/28/23 at 1:01 pm to La Place Mike
quote:
I just love anecedotal evidence
It isnt anecdotal.
The question was already asked, "what do you invest in?".
I have not seen anyone lose all of their money in mutual funds. I have not seen anyone lose all of their money in indexes (isn't an indexed UL based on an index?).
You are arguing just to argue.
I'm almost positive you have seen whole life policies implode.
I'm positive that you have seen UL policies implode (pull money out and see how long it lasts).
I'm not sure why you are here arguing both sides of the life insurance debate without the least bit being intellectually honest about it.
Posted on 7/28/23 at 1:20 pm to meansonny
quote:
The question was already asked, "what do you invest in?".
It doesn't matter what I invest in. I do have investments and I do have permanent Life insurance but I don't consider my permanent life insurance as investments. They are insurance.
quote:I haven't either and I never said I saw anyone lose all of their money in mutual funds. You do like to put words in other peoples mouths.
I have not seen anyone lose all of their money in mutual funds.
quote:Pot meet kettle.
You are arguing just to argue.
quote:
I'm almost positive you have seen whole life policies implode.
I'm positive that you have seen UL policies implode (pull money out and see how long it lasts).
Yes I have but I have seen even more of them not implode.
quote:What are you talking about specifically? Because you love to say I say things I have never said like UL is great. I never said that.
I'm not sure why you are here arguing both sides of the life insurance debate without the least bit being intellectually honest about it.
Posted on 7/28/23 at 1:54 pm to La Place Mike
If the markets don’t perform then the insurance company goes insolvent. Simple as that.
You’ve made yourself look like a fool today so go away and hide now.
You’ve made yourself look like a fool today so go away and hide now.
Posted on 7/28/23 at 2:10 pm to Shepherd88
quote:
If the markets don’t perform then the insurance company goes insolvent. Simple as that.
Is this a gotcha? If markets don't preform then you lose your money and an insurance comapny would be more likely in a better position to weather the storm than you could.
Posted on 7/28/23 at 2:26 pm to La Place Mike
quote:
Dumb question and proves nothing. I could ask if you have ever seen anyone retire comfortably when they only purchased permanent life coverage
But they would have a lot more money if they had actually invested the money they spent on a WL policy.
Posted on 7/28/23 at 2:27 pm to REB BEER
quote:Would they? No way to possibly know this.
But they would have a lot more money if they had actually invested the money they spent on a WL policy.
Posted on 7/28/23 at 2:39 pm to La Place Mike
Go look at how much you have paid in WL premiums. I'm guessing thousands per year. Probably $5k or more annually. Now go look at historical data plug in the same amount annually in an S&P 500 index fund.
Then please come back and tell us the difference. I bet you won't do it.
Then please come back and tell us the difference. I bet you won't do it.
Posted on 7/28/23 at 2:42 pm to meansonny
There are some UL policies with long term care riders available. Those policies , if funded correctly, can have huge savings. If you never end up needing it then it’s still life insurance.
Posted on 7/28/23 at 2:51 pm to REB BEER
quote:You are guessing. So I am correct you don't know.
I'm guessing thousands per year
quote:So you are basing your guesses on past market preformances. What years will you use? The S&P dates back to 1923.
Now go look at historical data plug in the same amount annually in an S&P 500 index fund.
Posted on 7/28/23 at 3:29 pm to La Place Mike
quote:
I have personally seen people lose almost all their money in the market and have to go back to work in their seventies. I just love anecedotal evidence.
How were they invested and spending habits. Because if they were diversified properly and had even a modicum of good spending habits, we really haven’t gone through a crisis in 90 years where people have lost “Most is everything” unless you are looking at 12 month or less and still those over at 50% or less losses. This leads me to belief if they did they were highly too heavily invested in one company. Probably a company they work for and has too much in that one individual stock.
This post was edited on 7/28/23 at 3:38 pm
Posted on 7/28/23 at 3:30 pm to La Place Mike
quote:
but I don't consider my permanent life insurance as investments. They are insurance.
If you really believe this you should read my breakdown I posted to you. WL is a really inefficient decreasing term.
Posted on 7/28/23 at 3:32 pm to IcedOutBart
quote:
There are some UL policies with long term care riders available. Those policies , if funded correctly, can have huge savings. If you never end up needing it then it’s still life insurance.
You can do the same thing with an indexed Annuitie without the rising fees and costs. Still doesn’t make sense.
Posted on 7/28/23 at 3:35 pm to La Place Mike
How about from the time you bought the WL to today. Let’s use those dates. It would be a realized of what you would have today. No hypothetical about it. Is that amount more than your cash value? If so you lost. Plus add that cash to the face amount to the term as your death benefit giving you a greater death benefit than the WL death benefit.
Posted on 7/28/23 at 4:12 pm to La Place Mike
quote:
What years will you use?
Again, you are arguing just to argue and you're making yourself look bad.
Just like the other poster said, only use the years that you have "invested" in your WL policy.
quote:
I'm guessing thousands per year
You are guessing. So I am correct you don't know.
Unless your policy is only for about $20k, I know you're spending thousands per year.
This post was edited on 7/28/23 at 4:16 pm
Posted on 7/28/23 at 10:29 pm to Shepherd88
I put in 10k to start and then 1k per month since I’m 35.
Every 8 years I add 10 more.
I also fund a 401k to the max I can yearly.
The only difference between the two is when I take cash out my IUL it’s tax free. The government nor my wife can touch it. So at 58 I now have a salary if I chose off the death benefit. It will likely fund my 401k at 58 when i increase my contributions.
It’s just another bucket that has many afforded protections including I can’t lose anything in the market but I cap out at 10% per year. I can take a loan out for 2%. The bank takes its cash value as assets. It’s pretty cool.
Every 8 years I add 10 more.
I also fund a 401k to the max I can yearly.
The only difference between the two is when I take cash out my IUL it’s tax free. The government nor my wife can touch it. So at 58 I now have a salary if I chose off the death benefit. It will likely fund my 401k at 58 when i increase my contributions.
It’s just another bucket that has many afforded protections including I can’t lose anything in the market but I cap out at 10% per year. I can take a loan out for 2%. The bank takes its cash value as assets. It’s pretty cool.
This post was edited on 7/28/23 at 10:32 pm
Posted on 7/29/23 at 6:47 am to L S Usetheforce
Look at my description earlier.
How do you feel about the rising cost of insurance (ART) that is on the policies that eats away at the cash. Everyone you take cash out you get closer to the policies imploding. The older you get taking it out, the more that compounds exponentially. Then you’re calling the gains allowing for less return offset the rising cost of the policy. It’s a recipe for disaster.
There was billions in lawsuits awarded in these policies imploding on themself.
How do you feel about the rising cost of insurance (ART) that is on the policies that eats away at the cash. Everyone you take cash out you get closer to the policies imploding. The older you get taking it out, the more that compounds exponentially. Then you’re calling the gains allowing for less return offset the rising cost of the policy. It’s a recipe for disaster.
There was billions in lawsuits awarded in these policies imploding on themself.
Posted on 7/29/23 at 7:50 am to LSUtiger89
You asked me my advantages. I gave them to you.
If I cared about rising cost of a life insurance as I got older I wouldn’t have purchased it at 35.
If I cared about rising cost of a life insurance as I got older I wouldn’t have purchased it at 35.
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