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@prospersbc: That's because there are no earnings. The withdrawls are only tax free, because the CV is lower the the premiums paid. You can't tax a loss!
jgilles85 1 year ago
@jgilles85 As I've heard before you really are that dumb!!! I've got huge gains in my permanent life products!!!!
insurancemike10 1 year ago
This comment has received too many negative votes show
Whole/variable/cash policies are crap. It's complete commission for the brokers. Buy term insurance for a much CHEAPER price and invest the difference in an IRA. See Dave Ramsey, Suzie Ormon, Jim Cramer, Smart Money and Consumer Reports.
astroman30 3 years ago
This comment has received too many negative votes show
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!
jayjota 3 years ago
Loans u take out need not be paid back. Whole life operates s.t. if u access cash via loans, u have a choice as 2 whether or not to pay it back. If u don't pay back the loan, it gets deducted from the death benefit (DB), and ur beneficiary would receive the difference.
pc9071rl 2 years ago
The best thing about this video is it came out way before the 'real' market turmoil began. Because I have seen this work, I'm a big proponent for Whole Life Insurance (before 2008). Tax-deferred growth, tax-free withdrawls on earnings, and no penalties before 59.5, plus insurance...kind of a slick way to pay for your daughter's wedding.
nilente 3 years ago
am a financial advisor that sells whole life and term life, usually whole life to business owners who understand how to use the product effectively for getting tax free dollars out of there business. When I work with families, it is usually a mix of term and whole life. But I would challenge anyone in the world to show me a place where my clients could put money to grow on a tax-deferred basis, take tax free withdrawls on earnings and pay no penalties before age 59.5 and get insurance on top
prospersbc 3 years ago 2