I would prefer VUL to a UL. A big gamble with VUL - if it is guaranteed until 85 it is safer then a UL policy bud. But without disability insurance, you could lose the life insurance due to loss of income.
Univeral life insurance is legalized fraud. The policies are sold as investments, but the policies are designed to blow up when you need them most. As for the "tax advantage" it is strictly smoke and mirrors. Never buy universal life insurance.
You are correct in one aspect but Universal Life Insurance is what some people unfortunately want. They like playing the investment and having life insurance at the same time. Remember that the investment is paid out tax free. I personally do not support this product and have sold one Universal Life Insurance YRT yearly renewable term in my career. What you should realize is that there are two types and the one with level cost is usually cheaper then any other permanent insurance.
The YRT policy is not made for a family man. But Universal Life Insurance can be setup as a Level Cost Guaranteed Insurance. The insurance stays level for life. This would be a better option.
Yeah being knowledgeable about it is one thing, but I would never own one of these on my own life or my family's life. Every universal life policy out there is a monster that cannibalizes on itself. The cash value will build up, but then start to decrease rapidly because the cost of insurance goes up. Yeah the premium stays the same, but the cost insurance inside your premium continues to go up, and your "investment" account gets eaten away all the way til 0.Just pointing out form experience.
I would prefer VUL to a UL. A big gamble with VUL - if it is guaranteed until 85 it is safer then a UL policy bud. But without disability insurance, you could lose the life insurance due to loss of income.
KJ - ProDisabilityAgent
SuperKJ305 1 month ago
Univeral life insurance is legalized fraud. The policies are sold as investments, but the policies are designed to blow up when you need them most. As for the "tax advantage" it is strictly smoke and mirrors. Never buy universal life insurance.
Paulywantstokill 3 months ago
You are correct in one aspect but Universal Life Insurance is what some people unfortunately want. They like playing the investment and having life insurance at the same time. Remember that the investment is paid out tax free. I personally do not support this product and have sold one Universal Life Insurance YRT yearly renewable term in my career. What you should realize is that there are two types and the one with level cost is usually cheaper then any other permanent insurance.
jackthelifeman 3 months ago
i was wondering how you did on the 4hr body?
cuppylove1 4 months ago
The YRT policy is not made for a family man. But Universal Life Insurance can be setup as a Level Cost Guaranteed Insurance. The insurance stays level for life. This would be a better option.
AmyB403 5 months ago
and this has been from every universal policy I've seen. It's very sad :x
Duderstradt 5 months ago
Yeah being knowledgeable about it is one thing, but I would never own one of these on my own life or my family's life. Every universal life policy out there is a monster that cannibalizes on itself. The cash value will build up, but then start to decrease rapidly because the cost of insurance goes up. Yeah the premium stays the same, but the cost insurance inside your premium continues to go up, and your "investment" account gets eaten away all the way til 0.Just pointing out form experience.
Duderstradt 5 months ago