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Started By
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re: Whole Life Investments. Pro's and Cons?
Posted on 9/5/09 at 10:33 am to bengalbrother
Posted on 9/5/09 at 10:33 am to bengalbrother
12-15 years to break even, what kind of return am I looking at in years 15+? Is it 12 or 15%, because being underwater on an investment for 15 years is...ridiculous.
ETA: This is all ignoring a real fundamental issue of course, which is that you are trying to sell a hedge as an investment.
ETA: This is all ignoring a real fundamental issue of course, which is that you are trying to sell a hedge as an investment.
This post was edited on 9/5/09 at 10:46 am
1
Posted on 9/5/09 at 11:18 am to kfizzle85
quote:
the cash value is there for the insured during the time they are living and can be used as an interest free loan. I can go all day about the benefits. Wait until your term runs out and you have to price term at age 60. Go run a quote on that premium.
Real investments will be around for me and my heirs. If you buy the same face value of term insurance and put the difference in premiums in a can buried in the back yard, it would be a better investment, it would still be there after you die. Insurance has only one valid use, to protect someone else that is dependent on you for their income, there are probably very few people age 60 or older that need life insurance.
FWIW, my wife sold insurance, I have heard all the sales pitches, she quit the business, because she was tired of being pushed to sell whole life to people that would be better off with term or nothing.
Posted on 9/5/09 at 11:46 am to JWS3
Like I said, I'm done debating, you like what you like. It's not a sales pitch because I'm not trying to sell anyone. Trying to educated and you both are close minded. You make assinine statements about whole life. I never said it's the only thing to do, I said it's not a bad product. You need to do your own research and stop talking to people who only sale term, Ramsey, primerica, etc. By the way, Ramsey has whole life policies protecting his assests.
Posted on 9/5/09 at 11:51 am to bengalbrother
You're not even debating anything, you're basically just making blanket statements about people making blanket statements. And wtf is this Ramsey bullshite, the word Ramsey was not mentioned at any point prior to your entrance in this thread. Amsterdam, if you're reading this, this guy is probably a good example of why people generally hate FA. Hubris-filled with apparently zero ability to back up their cockiness, and defiantly arrogant no matter what.
Posted on 9/5/09 at 12:05 pm to bengalbrother
quote:
Trying to educated
quote:
stop talking to people who only sale term
awesome
quote:
By the way, Ramsey has whole life policies protecting his assests.
Like the previous poster said no one but you mentined Ramsey, but you know this how?
This post was edited on 9/5/09 at 12:06 pm
Posted on 9/5/09 at 12:25 pm to Cash
quote:
Like the previous poster said no one but you mentined Ramsey, but you know this how?
Dave Ramsey, and Suzie Orman are the anti-christ to insurance sales people, just like Sara Palin to the Democrats. Suzie Orman did a show on whole life and started getting death threats afterwards.
Posted on 9/5/09 at 3:17 pm to bengalbrother
quote:Please switch back to English....
Trying to educated and you both are close minded.
Posted on 9/5/09 at 5:29 pm to LSURussian
Your attempt to "educated" people seems to consist solely of saying "nuh uhh." Have you used any examples or projected numbers to show why whole life is so great?
Posted on 9/5/09 at 6:55 pm to Cold Cous Cous
You were not asking me, were you? 
Posted on 9/6/09 at 2:00 am to LSURussian
quote:
bengalbrother
I'm an insurance and investment agent, and I believe there is a place for permanent life insurance. However, you are the one looking like a fool in this thread. You arguing like this isn't going to change anyone's mind and bickering like a child isn't going to land you any business.
Unfortunately, people like bengalbrother are the reason some agents get a bad wrap. I've posted my email address on one of these threads before, so, if someone wants sound advice from someone that knows what they are talking about, send me an email or PM.
This post was edited on 9/6/09 at 2:02 am
Posted on 9/6/09 at 9:07 am to LSUgolf04
So to sum it up...
- Whole life is much more expensive than term for the same coverage.
- Whole life has two advantanges: Builds a cash value, permanent insurance (don't have to worry if qualifying for renewal like term)
- The two advantages are exclusive to each other -- At the time when the value of the permanent policy is greatest, so is the cash value, but you can't have both (cash value vaporizes if you die)
It sounds like whole life can be a good choice if you have no discipline to invest and/or if you expect to become uninsurable at some point.
Thus I will stick with term and take my chances.
- Whole life is much more expensive than term for the same coverage.
- Whole life has two advantanges: Builds a cash value, permanent insurance (don't have to worry if qualifying for renewal like term)
- The two advantages are exclusive to each other -- At the time when the value of the permanent policy is greatest, so is the cash value, but you can't have both (cash value vaporizes if you die)
It sounds like whole life can be a good choice if you have no discipline to invest and/or if you expect to become uninsurable at some point.
Thus I will stick with term and take my chances.
Posted on 9/6/09 at 9:38 am to LSUgolf04
Because of Bengal Brother I very well may cancel my whole life and reinvest my money into something else.
Bengal Brother, you sir, are an idiot and horrible representative of the insurance industry.
Bengal Brother, you sir, are an idiot and horrible representative of the insurance industry.
Posted on 9/6/09 at 12:16 pm to Walkertiger
Only slightly related, but interesting nonetheless:
Back to the future: Wall St creating new bond products by securitizing life insurance policies LINK ][LINK]
If anyone has a NYT subscription and feels like pasting the story that'd be great.
Back to the future: Wall St creating new bond products by securitizing life insurance policies LINK ][LINK]
If anyone has a NYT subscription and feels like pasting the story that'd be great.
Posted on 9/6/09 at 2:21 pm to LSUgolf04
quote:
send me an email or PM.
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