Life Insurance is Safer than Stocks

[Termisexpensive]

If you believe tax rates are going up why would you ever put money into something tax deferred? I'd rather pay the tax on the "seed" than the "harvest" - do you want your money to be 1. 100% taxable 2. Sometime taxable or 3. Tax Free - I'm betting most picked #3 - if I could show you how to do that would that be of interest to you? Who would say no to that!!! And there are strategies to do this, just stop listening to the Gov't telling you where to put your money!!! 401k/IRA's are a scam

[ReasonableNotion]

For the right individual, permanent insurance is not a bad option. A person that has a high income, has maxed both their 401k and IRA and needs an additional avenue to stash funds tax deferred this is a great option. it might also be beneficial for someone with no 401k being that it can be switched to an annuity in later years.

[Termisexpensive]

@ReasonableNotion Are you an idiot? Why should anyone max their 401K? Don't you realize the 401k is a complete ripoff after the company match!!! 30-40% of all the money is for the IRS!! You invest $5k for 10 years at 6% you have about $69k, at a 30% tax bracket you have $48.3k left, you spent all the money, took all the risk and are left with less - And God forbid tax rates go up!!!! Moron!!!

[ReasonableNotion]

@Termisexpensive "Up to the company match," well thank you Captain Obvious! I didn't think that such an elementary detail would need to be spelled out, next time I will choose my words more carefully for "geniuses" like yourself.

[Jeffreyckcheah]

the most absurd thing, it is so stupid.

[grm46032]

@orlandoa54.

How is a 30% Market downturn a great solution.

Lets assume a $100,000 Balance. With that downturn the balance is $70,000 and the broker still gets paid to lose money.

For a 5% "charge to borrow money" like you mention, for me to take $30,000 from the client they would have $600,000.

Seems like the first option has a high fee to me, since the client didn't cash out on the loss.

[grm46032]

I have No Problem with anyone Buying term and investing the difference. In fact, with any of my clients, none of them lost a dime in the past 10yr. With the Power of zero protecting their losses along with market upticks adding to their retirement nestegg. Seem that orlandoa54 may not know me personally or any of my planning practices.

You see, there is NO Smoking gun when it comes to planning. There are proper safeguards that anyone can put in place to insure that there is enough to retire on.

[adambomb805]

paynoincometax

[grm46032]

Not only is this true but with Any Life insurance policy I offer there are long term care benefits and others. If you would like information you can give me a call at 877-507-2001 ext 226

[orlandoa54]

@grm46032 Scum bag ripping people with your trash value life insurance. you guys keep people initial deposits, guy selling your product are not even securities licensed. you have to pay 3-8% to borrow your own money. you deffer peoples saving for 6month if they need the money. you guys are low interest, and you only pay out the death benefit or the cash value not both.

[PFSRVP57]

It has come to our attention that derogatory and misleading posts from Primerica agents continue on YouTube. Please be advise that these comments do not represent the company nor are condoned by the company. Should you wish to report or lodge a complaint please call 1.800.257.4725 option 7 or fax in your issue to 770.564.6454.

[PFSRVP57]

On behalf of all PFS RVPs & associates I would like to apologize to everyone for the foul language & misrepresentations a few of our representative have been making. By this post I'm asking ALL PFS reps who have been posting to cease & desist. These posts have been reported to our compliance department & an investigation is under way. We at Primerica are proud of our professionalism & the actions of a few are clearly not what we represent. Again we apologize.

[BSIRCF2000]

Index Universal Life is the way to go. Protection against market crash and opportuniity to ride market upswings. Plus Tax-free retirement income.

[probslpwtyormama]

@BSIRCF2000 you are a joke.

[insurancemike10]

www2.fdic.gov/idasp/main.asp

[insurancemike10]

Here you go - The following banks ALL own WL insurance - numbers are the Cash Values:

Citibank (Primeria's affiliate) - $4,363,000,000 as of June 30, 2010

JP MorganChase - $9,500,000,000

TD - 1,249,901,000

Hmmmmmmmmmmmmm!!!!! Schooled Again!!!!!

[dawsonfan59]

@insurancemike  You can think what you want, but Im not going to dignify any of those ridiculous comments. You are right about one thing, though. Primerica is the best thing that has happened to me. I am not ashamed to say it, because I know what is right, and what is wrong.

[insurancemike10]

@dawsonfan59 What's wrong is that Primerica uses unisex rates and yet are still super expensive for male, off the charts expensive for females. What's wrong is they charge 14% of premium to pay monthly, what's wrong is their 30year level is only guaranteed 20 years, they don't illustrate their crazy high renewal rates. Thats whats wrong with primexpensive.

[dawsonfan59]

PEOPLE!!!! WAKE UP!!!! Do you understand that the life insurance industry regulates itself, and it is a 7 trillion dollar industry.  The industry will do whatever is most profitable. Life insurance is nothing more than protecting your income until you are prepared for retirement. This just shows that our country is in dire need of true financial education. Only buy term insurance and invest outside your policy.

[probslpwtyormama]

@dawsonfan59 great post !!!

[insurancemike10]

@dawsonfan59 Wow so you are a fool too? Nice try but buying term doesn't work. You do need life insurance when you retire - why? Legacy planning, wealth transfer, estate planning, special needs trusts and max retirement by using the DB to allow yourself the ability to spend down your other assets more freely. Wow you must be another Primerica tool that sells over priced term and try to make off like you are a financial planner. Having a Series 6 only allows for va's and mutual funds!!!

[bruie]

dennis neal is a freakin genius.

he asks rivoting questions.

Big Sue looks on the ball as well. Great interview guys.

Really informative.

(sarcasm).

[escobar103182]

These guys are idiots... you don't pay taxes bcuz the moneys isn't yours it becomes their property, its stated in the policy... you can only take the money out in the form of a loan... loan means interest you have to pay... the only person this benefit is the agent, since it renews every year, meaning premium goes up every year

[lilant27]

@escobar103182 Wrong. The premium on a WL policy NEVER increases. That, aside from numerous others, is just one benefit of getting a whole life policy at a young age when you are healthy. Or, buying term when you are young that can be converted to whole life over a set time. Most advisers and insurance agents recommend a healthy blend of both because it maximizes the benefits you can receive later in life for healthy conditions you have TODAY. Quit being so ignorant, do your own research.

[escobar103182]

@lilant27 Ur basically overpaying for the policy even though in a WL premiums wont Increase, We can't say the same thing with VULs and ULs, and sure the premiums cover the Cost of insurance and the investment part but if you analyse the policy it will only get you about 3-6% of return and the company charges 6-8% if you want to take out a loan from your "own money" aka "company's money" which in the policy states its their property, Nothing against LI, I condone Term, I know over a dozen agents

[insurancemike10]

@escobar103182 More lies - you don't get charged to take your money out!! You can withdraw all you want. Once you withdraw your basis then the next $'s are taxable. In order to avoid taxes you then take the $ our via policy loan. the going rate is 4% and that is credited back washing out the loan interest. stop spreading lies.

[escobar103182]

@insurancemike10 It's not your money, quit saying its "YOUR" money. The policy always states it becomes the company's property, thats in every WL. I can tell you this because I've seen tons of policies, thats what I do I tell the client what they have wether its a WL, VUL, UL or Term, and with their own policy explain to them what their agent did not. I show them the facts stated on their own policy nothing else.

[insurancemike10]

@escobar103182 Do you say these things w/ a staight face? Do you tell the clients they can't access this $? They can HAVE ALL the $ in the policy when they WANT it. They can surrender the policy for it's full value, they can withdraw $ from the policy and if they have withdrawn more then they put in they can take $ from the policy without paying taxes on the gains by using policy loans - They loan is charged at 4% & credited back at 4% it nets to zero loan cost & tax free $ to the client.

[escobar103182]

@insurancemike10 i never said they couldnt access the money on the sub account, Im saying its not their money, its always stated on the policy, thats why you got to get it as a loan, thats why u dont pay taxes. Its stated. Its not an acct worth keeping it or even getting, u get more coverage for less getting term and by the time the term expires a better investment (not attached to an Ins policy) will give a better rate of return more than the average 3-6% than what these WL give u

[insurancemike10]

@escobar103182 Again you lie - All the cash in the policy is the policyowners - PERIOD end of STORY - Stop making things up

[escobar103182]

@insurancemike10 Show me a WL Policy and I'll point out where it says it, and im not making things up and I can tell you in all the WL policies that Ive replaced says the same thing.

[insurancemike10]

@escobar103182 You lie. I rechecked my guardian, mass, and northwestern policies and there is no reference to what you state. The only thing you could state is Policy loan is held against the death benefit which grows and grows. Stop lying to the people!!!

[escobar103182]

@insurancemike10 call ur Ins Co. and ask them in case u die who keeps the cash value in the policy, u or the company? ask them what the cash value is, does it match what they told u? i bet u anything the most u will have in the lifetime of ur policy's "savings" is the same amount as ur Ins Coverage because they wont let it get more than the coverage, since it will become an endowment.

[insurancemike10]

@escobar103182 Youvare now twisting things. In whole life the cash buys additional life coverage so the db will be signicantlybhigher than the original face!! In UL you can choose option two and get the base db plus the cash. Stop lying

[probslpwtyormama]

@insurancemike10 what does "signicantlybhigher" mean ? the only thing that gets "high "is you burgermikey.

[probslpwtyormama]

@insurancemike10 you drunken fool, you post when you are hammered that explains it !!

[escobar103182]

@insurancemike10 why should u have to "choose to get both" isn't it then ur money? with "Option B" ur just over paying to get what ur "supposed" to get, while "Option A" only gives u death benefit OR Cash Value Not both, how do u feel about getting only 1 of what ur payin for both? and how do u feel about paying MORE to have ur beneficiary get both? doesnt make any sense, watch DAVE RAMSEY and get educated.

[probslpwtyormama]

@escobar103182 ya mikey will not answer any questions that involve substance. he will just rant and rave about nothing.

[escobar103182]

@probslpwtyormama hes a stupid Fck who doesnt know what hes talkin bout, he oviously had a bad experience with this subject that caused him to react this way

[probslpwtyormama]

@escobar103182 the bad experience he get's is primerica agents schooling him all the time.

[escobar103182]

@probslpwtyormama true... hahaha

[insurancemike10]

@escobar103182 Clearly u are a moron and just another primerica agent spreading lies. Dave Ramsey? Please. Ps. U get both you idiot? You never get the term db because it never pays a claim!!! No need to reply. Tired of delaying mindless fools.

[escobar103182]

@insurancemike10 lies? please, Ive seen Primerica pay more claims than i would want to, and im proud to represent Primerica, all ur doing is talkin smack, thats all u know how to do, i dont need to call u an idiot to show u that u are, u do it to ur self. get some insurance experience and get securities licenced and then well talk, bcuz even securites talks about WL, UL and VULs, dumb ass

[insurancemike10]

@escobar103182 A University of Penn study proves that less that 2% of term EVER results in death claims. But answer this, Why does Primerica charge unisex rates? The impact to female rates is off the charts!!! And the male rates are amoung the highest? Why do you charge 14% to pay monthly? Why is your 30 year term ONLY guaranteed for 20 yrs? Why do you NOT illustrate your renewal premiums? Why does Primerica have a 12.3 lapse rate, about 3x that of the industry average? Please tell us!!!

[escobar103182]

@insurancemike10 First of all I couldn't find anywhere what u stated, so if you can state your sources. 2nd, 30yr tm is 30yr tm not 20 yr, I don't know where you get that from. 3rd I have to agree with you that Primerica doesn't have the cheapest rates in town no one ever said we did. ..............

[insurancemike10]

@escobar103182 Its right on the front page of the illustration. Rates are ONLy guaranteed 20 years. I have one if you'd like to see it.

[escobar103182]

@insurancemike10 ..........4th, we don't believe in renewal that's y we teach ppl 2 Inv their $ in MF which will offer a better rate of return than any CV policy by the time policy expires they dont need 2 renew or pay for a policy for the rest of their life, just like a Personal trainer can teach someone how to lose weight not everyone will follow through

[insurancemike10]

@escobar103182 You don't believe in life insurance beyond 30 years? Wow ever hear of estate planning? Wealth transfer? Legacy planning? Special needs trusts? Life INS passes tax and probate free. Poor advice. As for investing the diff? Please no on is comparing cv life to the market but it does do 5% tax free and provides a solid base. The maker avearage 9 but after taxes and fees nets most less than 4. Look up real rate of return v actual

[escobar103182]

@insurancemike10 sorry for the late reply, i was busy working n having a life before my vacation... I will get back to this as soon as i get back, im sure u wont miss me, since u'll prob b masturbating to porn all this time. and NO i dont believe in Life Ins after Kids are out of the house, House is paid off and debt is gone, because by that time Invstm should've already matched or bypassed the DB of the term policy, so if one of the spouses dies I doubt there will be any economic stress

[insurancemike10]

@escobar103182 Typical curse laden reply from a GED degree holding primerica agent.  Don't bother I don't debatte morons.

[probslpwtyormama]

@insurancemike10 actually YOU DON'T DEBATE THINGS YOU ARE TOO STUPID TO KNOW ABOUT!! LIKE INVESTMENTS OR INSURANCE POLICIES AND HOW THEY ACTUALLY WORK. NOT YOUR DREAM WORLD SEMINAR TEACHINGS. OWNED !!

[bond519]

@insurancemike10: What is the matter illegal michelle. You can't beat me on the other video so you come on this one and spew your trash advice?

[probslpwtyormama]

@insurancemike10 WOW "term never pays a claim" WOW, IS THAT WHAT THEY TEACH YOU IN YOUR SEMINARS? you are a lying idiot !!

[GuitarOwl]

@probslpwtyormama Actually mike never said that. He said about 2% pays out and that is true. It's around those numbers.

[probslpwtyormama]

@escobar103182 mikey is so funny, he owns policies from 2 of the worst companies lol.

[escobar103182]

@probslpwtyormama haha, yes he does, haha

[GuitarOwl]

@escobar103182 Yeah BUT what you prob don't know is you can use your dividends to pay the loan interest. Or maybe you do know that. You don't need to pay it back the insurance company will just say ok well so and so took 500K out of a million dollar policy so were going to give you 500K. That is something the agent doesn't always say and that's why people can get screwed over. It does work you just need to be smart about it.

[fritchdogg]

Is this for real. Whole life insurance as an investment? Why didn't anyone ask what the cost of insurance is...and the fees to manage your whopping 4.5%? It is funny, we have a downturn in the market and everyone panics...like it is the first time we've ever had a recession. Stocks win in the long term, which I believe we are all talking about.

[econ137]

Estate planning. Look it up.

[econ137]

Transfer of ownership on a retirement plan (ie. 401k or stocks) is impossible. DOUBLE TAXATION - estate tax from 35% to 55% in 2011 on top of income tax of 25% to 35%. You are looking at least 63% to more than 95% in taxes wiped out because you did not use proper estate planning via life insurance. Your $700,000 is now $259,000 to $35,000 left for your spouse or kids. That's not fear-mongering, that's fact.

[econ137]

Whole life addresses this transfer of ownership problem; stocks do not.

Whole life is conservative with a moderate yield and guarantees; stocks you can make a lot of money and you can lose a lot of money too (I'm sure you have friends that lost some money in their 401k or stocks).

If you don't care about estate planning and transferring your money to your kids if something happens to you, don't get whole life. But if you do, do your own research and look into it.

[econ137]

I'm going to take back all my insults to you and I apologize.

I feel like somebody presented whole life to you as if it was the best money-maker out there. I will be the first one to say that it isn't. FAR FROM IT.

If you want to make A LOT of money cash value is not for you because the potential is not there. If you want to make a lot of money research your stocks; but as the old adage goes, with great reward comes great risk.

[econ137]

Is the average consumer aware of these risks? Do you inform them that it is possible to lose more than half of your money in stocks? This is not fear-mongering, this is fact.

What whole life offers is permanent insurance, automatic estate planning, tax advantages, and some cash accumulation.

Any agent that tells you whole life will make you stinkin' rich is lying to you.

But, that's not to say it's worthless. Permanent life insurance does have it's place, depending on your goals.

[econ137]

Whole life is like a knife. In the hands of a criminal it can kill. In the hands of a chef, you make some tasty treats.

If you have whole life because you were told you were going to retire off the cash accumulation, you've been misinformed.

If you have whole life because you like having permanent insurance, like the option of transferring money to your kids without double estate and income tax, and some cash accumulation, then you have picked the correct product.

[fritchdogg]

@econ137 Yes, if your goal is not to retire. The majority of Americans live paycheck to paycheck. I don't believe the average middle class family can afford to tie up their extra money per month (in the form of expensive premiums) in a 4.5% savings account. Yes, there is some risk in stocks, but if you participate in a quality mutual fund the risk is limited greatly.

[fritchdogg]

@econ137 Yes, if your goal is to not retire someday. I don't believe that the average middle class family can afford to tie up their money (in the form of expensive premiums) in a 4.5% savings account. There is more risk in stocks, but if you pick a quality mutual fund the risk is greatly limited. Mutual funds can also vary among ones risk tolerance.

[ktkl68]

Are there any other ways to plan for one's estate planning? I mean life insurance is the ONLY way for estate planning?? there is no other investments that most people dont know of?? I mean some of those big investment firms that manage wealthy clients, wouldn't they have something else?

[econ137]

Let's say you've got 700,000 by the time you retire. Last year you would've lost 40% so now it's down to 420,000. What do you tell your clients now? "Oh, that's the way the cookie crumbles/that's the way stocks work/etc."?

You also fail to address transfer of ownership; say something happens to you. You can transfer whatever is left over to your spouse/kids right?! WRONG.

[probslpwtyormama]

@econ137 ummmm you would have only lost if you pulled out duhhhhh!! and what was the starting amount invested 50k?

[econ137]

Where did I say that? Numbnuts.

[econ137]

Wah wah wah; I'm going to stoop to your level.

[econ137]

Good job you dolt you're making stuff up now.

[econ137]

for loss is there.

Some in stocks, some in something conservative = diversified portfolio.

[econ137]

Take a breather and pay attention...

Let's use Dave Ramsey's example because you sound like a follower. He states in a video clip here on youtube that if you line everything up correctly you should have about $700,000 to retire on. What happened to his 700,000 last year? 40% drop in the market reduces his 700,000 to 420,000.

Am I saying stocks are bad? Hell no. I even tell my clients (if they are young) to max out their 401k's (foregoing commission mind you). It's just that the potential

[econ137]

How much did did people lose in the stock market last year? 40%? If I was around 55 years old and lost 40% of my retirement vehicle, how am I gonna retire now?

Look I'm not saying that permanent insurance is the only option. And I'm also not saying that investing in stocks is bad. I'm merely saying that permanent insurance should be part of every portfolio.

Sure the potential for gains is lower, but the potential for loss is pretty much nonexistent. So go crazy with stocks; if you lose

[econ137]

at least you have cash value in permanent insurance to fall back on.

Some people are fine with risk so the conservative nature of permanent insurance is not appealing; which is fine by me go crazy with it. But, there are some people who are conservative and want to hedge their bets.

I advise everybody to be informed of the pros and cons of vehicles they are adding to their portfolio.

[econ137]

Diversify your eggs in different baskets (some in stocks, some in more conservative vehicles like permanent insurance.)

Some expert once said that "diversification is for the lazy and uninformed masses who don't know how to maximize their retirement."

Well good job hotshot, the majority of people don't have the time, inclination or knowledge to be their own stock manager, that's why you diversify. The masses have regular jobs, families, other goals...they don't have time to worry about

[econ137]

what's going on in the stock market.

Almost everybody lost in the stock market last year. The only people that made money last year were those that invested in annuities and life insurance products. They are conservative and guaranteed...not as exciting as stocks but it sure as hell beats losing.

[econ137]

quick question...if i did this buy term invest the difference over the past 10 years, where would i invest? and also assume that im about 10 years away from retiring.

sure the stock market goes up and down and if youre in it for long enough you will make money. but for people post 50, thats not an option.

buy term then the term ends, now how much does it cost to get another term? it will be exponentially higher since youre 10-20 years closer to death.

get permanent insurance.

[UDOG01]

In a perfect world . . . a hybrid insurance policy of whole life . . of $ 12,000 paid up after 20 years of payments indexed to the CPI and with participating dividends with an adjustable Term insurance component also indexed to the CPI than has a premum indexed and adjustable to the CPI with annual GIB options of the Whole Life and Term coverages to increase the face amount by 10% upto a maximum of one-time per five year period of GIB option renewals would be the ideal scenario . . .

[hansonx08]

Lol whose side are u on incorruptible truth?? No ones i assume. My question is, what would u suggest for the normal middle class family? Who are the majority of america.

[banterking11]

a 35 level term.

[hansonx08]

I agree.

[sdamw8]

This is BS

[gwapindust]

LOL as they just announced life insurance bailouts today..... what a crock of shit, when are people going to realize that everything is fucking worthless.

[92builder]

New York Life has not taken and will not be receiving any type of bailout cash. I believe it was yesterday that New York Life has pad 1 billion dollars to beneficiaries. Promise kept!

[IncorruptibleTruth]

You speak for the company? LOL.

[92builder]

I don't, but I can read a newspaper, and I take offense to your "uneducated and over compensated" comment about salesmen. I am a professional who has spent over a decade in the insurance field. If you think I'm under educated and overpaid, you're welcome to go through what I go through in the daily operation of my business. Walk a mile in my shoes, so to speak.

[IncorruptibleTruth]

:) I put in a decade of selling insurance, most likely, before you even started your career. I'm long past those days.

[prospersbc]

And 60% of the population lost 30-40% of their nestegg and 529 college savings plans this year. Thanks to that kind of thinking. Glad I'm in the other 40%

[prospersbc]

And I would never try to prove you wrong on youtube. I just show your clients the facts and replace your crap everyday while you are on here whining astroman30

[astroman30]

Prosperbc...The funny thing is I was mocking wonderdog's statement of 60%. You are just agreeing with me. You're such an idiot loser, bottom feeding insurance salesman that we actually laugh at your statements.

[wodendog]

MisterMielke is on the right path and as usual Astroman30 is way the hell off. You'd think after talking to 100+ people on YouTube that he would actually go out and make sure he has the facts straight before he starts sputtering non-sense.

[astroman30]

pdono.....overall mutual funds have averaged 11% since the great depression. Your shitty wl policies have averaged 3 to4%. That's less than the rate of inflation. The market is down now, but it will go back up. You must be one of those bottom feeding salesman who rips people off.....DUDE.

[IncorruptibleTruth]

Which index and/or which fund has averaged 11% since the great depression? This type of BS pisses me off. I've spent more years than you've been alive analyzing stocks, bonds, mutual funds, etc. just for an insurance salesman all these years later to come along and make such a preposterous BS statement as that one. Its ridiculous. Who gave you your securities exam? I would like to speak with that person.

[astroman30]

IncorrupitbleIdiot.....You really don't know that the stock market has averaged 12% since the great depression? And that MF's have averaged 12% even over the last 20 years? You ever heard of the sources of Wall street journal, Cnbc or Dave Ramsey? The ALL state this information as well as many others. And you call yourself an analyst?

[astroman30]

whole/cash/variable policies are garbage. High payments and high commissions for the bottom feeders who sell them.

[yeevideos]

So glad you have this video out. Too many people don't know the value of life insurance, and in paricular, the index UL which has many living benefits. Who wouldn't want tax-free income for retirement, for emergencies, for health issues? You don't risk losing your money like in the stock market, your money is protected and it is a legally hidden asset. For those who know, take advantage of it. For those who choose not to, do you know any other plan that would give you all that?

[wmzingapan]

Cash Value is TRASH VALUE... Life Insurance with Cash Value is a SCAM!!!!

No to Universal Life Insurance!!!

NO to Whole Life Insurance!!

YES to Level Term Insurance!!

Buy term and get a mutual fund is the best deal in the market out there!!!

[desmoluvr]

I can't believe that you would actually even have the nerve to pitch "buy term and invest the rest" after Americans portfolios have been decimated the last 12 months! LoL. Plus Obama has promised to raise taxes on high net worth individuals. Where are they going to get any tax breaks?

[astroman30]

Spoken like a true insurance salesman who likes higher commissions.

[IncorruptibleTruth]

You're clueless but you're not alone. Nearly every post I've read is complete BS so its not just you. But you and others really need to stop representing your sides of the debate because I haven't seen a FACT yet. I'll give you a quick education. The rich protect their assets and lower their taxes by setting up corporations. Corporate tax is much less than individual tax. Obama is going to raise corporate taxes but they'll still be significantly less than individual taxes. --------->

[IncorruptibleTruth]

Anyone, regardless of net worth, can setup an LLC, LP, LLP, Corporation to protect their assets and limit their taxes for roughly $500; and most corporations can now be filed online. That's how the rich protect their assets and limit their taxes. It certainly isn't through the use of insurance products. The assumption that the rich use insurance is a preposterous one.

[astroman30]

IncorruptibleIdiot....You ever heard of a trust?

[IncorruptibleTruth]

Yes, its something nobody should ever put into you.

[MisterMielke]

Obviously you are not a tax expert, because if you were, you would realize that Universal life is the BEST option for tax deferred growth out there. I work with multi million dollar corporations and save them MILLIONS of dollars in taxes through the usage of UL insurance.

Go buy term insurance and I guarantee you that if you live a long life, you will cancel it for one reason..unaffordable. Insurance companies love it when you pay for years, and then they don't have to.

I rest my case

[astroman30]

Roth IRAs grow tax free.

[MisterMielke]

Hey Astroman, go buy term insurance then. If you die early it pays off, if not I guarantee you will cancel it, because you will refuse to pay Over $1,000/month for coverage. Or go level, beacause that's cool, paying for it as long as you are alive.

Maybe your 50 year mortgage is set up that way as well...idiot...

[astroman30]

Mister....Spoken like a true insurance salesman. The goal of btid (buy term, invest difference) Is that you purchase term insurance and invest the difference in mutual funds. Don't believe me? Check out Dave Ramsey, Suzie Ormon, Jim Cramer, Smart Money, Consumer Reports and Personal Financing for Dummies. They all say the same concept I'm stating. They have MILLIONS of listeners. How many listeners do you have? douche

[IncorruptibleTruth]

The idea of buying term and investing the difference is a concept and has nothing to do whether you purchase "mutual funds" with the difference. Primerica does it that way but countless others use stocks, bonds, annuities, real estate, etc.

[MisterMielke]

They are all uselsss...Jim Cramer or Suzie Orman can't hold their weight in feathers....opinions just like anyone else...

[IncorruptibleTruth]

Except Jim Cramer produced a 24% annual return for 15 straight years while managing a hedge fund for Cramer / Berkowitz between 1986 - 2001. I think he's got a bit more of a proven track record than you or any Insurance policy has ever produced :)

[astroman30]

Jim Cramer says stay away from whole/cash/variable policies.

[IncorruptibleTruth]

Forgot one other important note to mention. Proof is in the pudding and Mr. Cramer's Pudding is worth just over $100 Million dollars not to mention the best producing money manager Goldman Sachs retained. You may have stepped into territory that you wished you hadn't with me.

[AmericaTheBlind]

Cramer is my fucking neighbor, he's useless, trust me.

youtube is filled with idiots, it seems that every idiot really blossoms on youtube.

[IncorruptibleTruth]

There's one thing we agree on 100%.

[IncorruptibleTruth]

I can reasonably assume that you are one of the insurance agents I talk to people about who only graduated with a high school diploma.

[MisterMielke]

And if you are so against commission, I assume you ride a bike and rent a house, hmmmm? Because in case you didn't know, when you buy a vehicle off the lot, you pay commission, when you buy a house, you pay a commission.

Donk....get a grip.....

[astroman30]

misterdouche....I'm not against commissions, dumb ass. It's the product that's flawed. It's the same as a used car salesman selling a lemon. These bottom of the barrel insurance salesmen sell these god-awful whole/cash/variable policies to people who don't need them. Tell us, what happens to all those $500/monthly when that person dies? Do any of the family members get ANY of those payments back?

[MisterMielke]

Actually they do, if it is a death benefit + face value policy. They get their death benefit, plus all the money they put in, plus their tax free growth. And it's all tax free on death.

Or we could keep paying the government....

[astroman30]

misterdouche....either you're lying or your stupid. The insurance company keeps ALL the payments and pays the family only the face value. Look up disadvantages of whole life on this website.

[kaskd]

Actually, the cash value is kept by the insurance company. The death benefit is paid towards the beneficiary (which is mandated higher than the cash value)

Keep in mind, that what these people are talking about are using whole life not as 'insurance' but as a secure investment. Term should be bought on top of this.

[astroman30]

kaskd.....I only buy insurance for - INSURANCE. The interest these "cash value" policies grow is 4%. That's less than the rate of inflation. And if the person dies that has any cash value, guess what, the insurance company keeps it. Sound like a good deal to you. Tell you what, I'll give you the same deal if you start sending your money to me.

[prospersbc]

A savings account pays 1% and is taxed yearly. Insurance pays 4% and grows tax deferred plus I get insurance. Seems like a no brainer to everyone except this idiot.

[IncorruptibleTruth]

I've been an Investment Advisor for many years and your argument doesn't make any sense to me either. My return for this year thus far is 41% and last year was 27%. I must be an "idiot" though :)

[IncorruptibleTruth]

You're dead wrong. Pardon the pun.

[IncorruptibleTruth]

I have never payed commission when purchasing a car or a house. Maybe I'm the only person here that does his homework and isn't afraid of doing his own leg work rather than paying some uneducated and over compensated salesman.

[IncorruptibleTruth]

My only comment to you is that you're full of shit and suffer from dullness.

[IncorruptibleTruth]

"Buy term and get a mutual fund is the best deal in the market out there"

Absolutely not. Mutual funds are no better than a whole life policy. They are loaded with management fees and rarely outperform, much less even keep up with the S&P. A mutual fund is a diversified portfolio of publicly traded companies (i.e. stocks). Warren Buffett has this to say about diversification: "Diversification is a protection against ignorance. It makes very little sense for those who know what they are doing."

[astroman30]

IncorruptibleIdiot......Of all the stupid lying insurance salesmen I've yelled at on youtube, you might take the cake. Shitty whole life policies are about the worst product you can buy. Need sources, try Dave Ramsey, Suze Ormon, Consumer Reports, Smart Money, Clark Howard, Jim Cramer and Personal Financing For Dummies. They ALL say stay for whole/variable/cash policies.

[IncorruptibleTruth]

Really, well newsflash for you idiot. I'm not an insurance salesman.

[jayjota]

BULL !!!!!!!!!!!!!!!!!!

What a common new-age scam.....

YOU DIE AND THE COMPANY KEEPS THE INVESTMENTS/CASH VALUE !!!!!!!!!!!!!!!!!

THE FIRST FEW YEARS NONE OF THE MONEY GOES TO YOUR "INVESTMENTS/CASH VALUE" IT ALL GOES TO THE AGENTS HIGH-COMMISSION.... WHAT A CROC....

AND IF YOU WANTED TO USE SOME OF THE MONEY, YOU HAVE TO TAKE A LOAN OUT? WAIT JUST A SECOND, LAST TIME I CHECKED, WHEN I GO TO MY BANK, I DONT HAVE TO PAY THEM TO GIVE ME MY OWN MONEY!!!!

WHAT A SCAM!!

AVOID AT ALL COSTS!

[desmoluvr]

I don't know what policy your looking at but my WL cash value started growing year 2. Also, my VUL is set up to pay out the death benefit AND the cash value. That's one of the options you have when you buy a VUL or didn't you know that. Also, if you don't like the loan consequences of cash value policies, write a letter to the IRS - they are the ones who control the rules on that.

[wmzingapan]

Let me ask you one simple question? Why is it that your paying more with the VUL and WL you currently have than the term that you should have with a higher coverage and lower monthly payment??

Im sorry but its just common sense.

I hope Susie Orman reads your comments (not in a bad way) but then again, good luck with your money...

[desmoluvr]

I do have term ins and a lot of it. But it doesn't last forever and the money is forever gone. With WL and VUL I have tax advantages that are not available anywhere else (at least for me) and I have liquid assets available to my family at my death to pay all of my final expenses so they don't have to liquidate assets in a down market (like today!).

[desmoluvr]

I'm paying more because I'm getting more benefits. BTW, I have a very large term policy also. My view on this issue is, permanent ins for permanent needs, term ins for temporary needs. Plus the tax advantages I get through my perm policies are not available to me through any other vehicle. Though I will be able to convert my Trad IRAs to Roth IRAs in 2010. Something my CPA says is going to be beneficial for me.

[joseacevedo559]

verry respecfully disagree. let me ask you where does a life insu co put the money after premiums are pd to company? probably a mutual fund. so why not just us go and put our money in a good quality mutualfund?

[wmzingapan]

I agree!!! That's good investment.