Thing is, I'm not doing it for the life insurance aspect. I'm doing it for the ability

Jan 13, 2020
6:40:10am

unctoothman All-American

to grow tax free in a more tax advantageous and less fee costly way than a 401K would be realized by me in my small business situation.

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unctoothman

Bio page: unctoothman
Joined: Mar 15, 2006
Last login: May 24, 2024
Total posts: 69,778 (40,159 FO)

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Messages

Author

Time

Any of you guys or gals using Variable (not Whole) Universal Life Ins as a part of your

unctoothman All-American

1/12/20 9:58pm

If you aren't pretty wealthy, it is a bad idea.

RexIdaCoug

1/12/20 10:01pm

I don't use it because in the accumulating years the average return of the stock market has vastly outperformed any

RdF3

1/12/20 10:01pm

this + RE returns. Not close in my experience.

mulletino

1/12/20 10:02pm

Don’t do it. Bad investment.

Mr. Belding

1/12/20 10:11pm

Get term life and invest the difference. You will come out ahead by a long shot.

PCCoug

1/12/20 10:19pm

If you need life insurance for life, and not a term, then ...

VegasCoug

1/12/20 10:21pm

I max out 401k and then do permanent life insurace mixed with term.

YSMACK

1/12/20 10:30pm

No IRA? HSA? Between just those three, you can invest some ~$50k / year.

ebv

1/13/20 5:57am

For HSA you need a qualifying HDHP in place. In PA for example there were a

Saxa

1/13/20 7:14am

Yes, of course. Ouch for PA.

ebv

1/13/20 8:10am

I'm not doing it for the life ins. That's a nice benefit, but the ultimate purpose

unctoothman

1/13/20 6:41am

I think properly planned Indexed Universal Life Insurance can be great in some

DogBoy

1/12/20 10:52pm

Variable means it can gain and lose money based on the investments in the policy

DogBoy

1/12/20 10:58pm

I've looked at the Equity Indexed UL policies as well. The floor is nice, but the

unctoothman

1/12/20 11:08pm

That's not the whole story. The one year term, large fees, e.t.c.

Gentleman Stan

1/13/20 12:45am

It's the worst policy there is.

Gentleman Stan

1/13/20 12:41am

This. Term life is the only way to go.

ebv

1/13/20 5:59am

Don’t do it. Just get her term.

cougfanz

1/13/20 2:48am

Thing is, I'm not doing it for the life insurance aspect. I'm doing it for the ability

unctoothman

1/13/20 6:40am

If you leave it in place for too long it will eat your investment and leave

Gentleman Stan

1/13/20 7:11am

I own a small business as well and just switched from a SIMPLE IRA to a 401k

PCCoug

1/13/20 8:32am

Good to know. Thx.

unctoothman

1/13/20 10:38am

I’m an idiot with this stuff but everyone who I trust and listen to is against

cougfanz

1/13/20 8:38am

Not variable but indexed and whole life

Jersey hunter

1/13/20 7:42am

Keep in mind that with Whole Life heirs don't get to keep the

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