Single premium variable whole life ins

Single premium variable whole life ins

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Single premium variable whole life ins
  #1  
Old 10-05-2019, 05:09 PM
Bleudeturquoise Bleudeturquoise is offline
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Default Single premium variable whole life ins

Needing advice regarding this type of policy from someone who is not a sales rep
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  #2  
Old 10-05-2019, 06:58 PM
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villagetinker villagetinker is offline
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Originally Posted by Bleudeturquoise View Post
Needing advice regarding this type of policy from someone who is not a sales rep
Do you have a financial advisor you trust, ask them. IMHO, there are too many variables for others to answer without all of the details of the policy, as well as a lot of personal financial info.
Hope this helps.
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Old 10-05-2019, 07:19 PM
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You need to know the reason for the purchase.
This is not an investment so if that is the reason you are buying skip insurance.
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Old 10-05-2019, 08:09 PM
Robbie0723 Robbie0723 is offline
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A Look at Single-Premium Life Insurance
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  #5  
Old 10-05-2019, 09:08 PM
retiredguy123 retiredguy123 is offline
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Needing advice regarding this type of policy from someone who is not a sales rep
In my opinion, it is a great investment for whoever is selling it to you. They will receive a huge commission and you will make them very happy. That is why they are selling it to you. But, for you, it is a terrible investment and you should not buy it.
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Old 10-06-2019, 08:00 AM
twopjt twopjt is offline
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Can be an outstanding financial tool in a number of situations, but is not a one size fits all. I own the product.

First, find the right company. You're literally connected with them for life. Look at 3rd party ratings and track records. Not TV adds. My pick is Northwestern Mutual.

Next find the right rep. Look for credentials like: CLU, ChFC, CFP, MSFS - these are the real deal, you can ignore the other cotton candy kind.
Look for the person who takes a lot of time understanding your situation, your objectives, your values. If they start talking about the product at the beginning of
the process, before they really know you, run.
Look for the person you like enough to actually follow their advice.

This answer from a highly credentialed, fortunately very successful 40 year veteran of the Financial Services Industry.

Last edited by twopjt; 10-06-2019 at 08:07 AM. Reason: correction
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Old 10-09-2019, 12:48 PM
Bleudeturquoise Bleudeturquoise is offline
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Please PM - have more questions
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Old 10-09-2019, 03:06 PM
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Quote:
Originally Posted by retiredguy123 View Post
In my opinion, it is a great investment for whoever is selling it to you. They will receive a huge commission and you will make them very happy. That is why they are selling it to you. But, for you, it is a terrible investment and you should not buy it.



Agree 100%.
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  #9  
Old 10-10-2019, 05:44 PM
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CSHeikkinen CSHeikkinen is offline
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Quote:
Originally Posted by retiredguy123 View Post
In my opinion, it is a great investment for whoever is selling it to you. They will receive a huge commission and you will make them very happy. That is why they are selling it to you. But, for you, it is a terrible investment and you should not buy it.
Agreed, whole life is the worst 'investment', because its not an investment...its an insurance product marketed as an investment
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