Jun 17, 2022
5:16:15pm
5:16:15pm
My FIL had a life insurance policy with a cash value
It took me about 3 seconds after looking at the policy and how much he paid into it over the years to realize that he had spent a small fortune on life insurance and would never get it back. He was in his late 50s when I first saw it. He had got the policy when he was in his late 20s or early 30s.
If he had a term policy and invested the difference to his universal life policy and earned a very average rate of return on his investment, he would have had a few hundred thousand dollars. Instead he had a crummy cash value of $65,000. He'd paid in almost a hundred fifty thousand over the life of the policy. It was so said to see that.
If he had a term policy and invested the difference to his universal life policy and earned a very average rate of return on his investment, he would have had a few hundred thousand dollars. Instead he had a crummy cash value of $65,000. He'd paid in almost a hundred fifty thousand over the life of the policy. It was so said to see that.
Originally posted on Jun 17, 2022 at 5:16:15pm
Message modified by RexIdaCoug on Jun 17, 2022 at 5:18:53pm
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6/17/22 5:01pm
6/17/22 5:07pm
6/17/22 5:16pm
6/17/22 5:42pm
6/17/22 5:01pm
I always hear this but never hear those situations, could you or someone else explain a hypothetical where it works?
6/17/22 5:05pm
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6/19/22 11:26am
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6/17/22 5:18pm
6/17/22 6:46pm
Ask him: "With respect to your advice on this whole life policy, are you a fiduciary?" and post his response here.
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6/18/22 10:09pm
The exact commission paid to the agent on the contract should be a disclosed line item on the contract.
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