Variable Universal Life Insurance Knowledge Base
Should I invest in a Roth IRa or Variable Universal Life Insurance Policy? I have a 401k/ Not married, no children, but my advisor says it is wise to invest in a variable universal life policy while I am young (the premiums are lower) so it builds cash value to aid in retirement plus I will have the death benefit for later on when I am married and have kids. Susie Orman thinks this is a bad idea and that 401ks and Roth IRAs are the way to go. Other people think differently. I am confused on what to do and wonder if people who have actually signed up for a Variable Universal Life policy have actually seen the cash value results when they have retired. My illustration shows about $600,000 cash value when I am 70- that is with a 12% return. I am wondering if I should go with this policy or use the $200/month it would cost to fund this and invest it in a Roth IRA instead or put more towards my 401k. Any serious advice would help!
Is Variable Universal Life Insurance right for us? My wife and I recently started variable universal life insurance policies. We are paying about $600 a month toward the policy on top of what we are each contributing to our 401k plans. We are both under 30 yrs. old, and are trying to get a good start on our retirement. Should we be investing in IRA's or something else instead? We both supported ourselves before we got married, so do we even need life insurance right now since we don't have children yet? Our advisor works for New York Life, and he's telling us that the variable universal policy is the best first step. I feel like he is just trying to maximize his commision instead of doing what's best for us. I know, we shouldn't have gone to an insurance salesman, but he was recommended by a close friend. What should we do? Combined, we make $85,000/yr. I contribute 6% to my 401k, and my wife contributes 1%. We are homeowners, not renters. Other that that, we don't have any other investments.
Should we switch our variable universal life insurance policy to a guaranteed universal life policy? My husband and I each have variable univeral policies...our agent is suggesting we change over to guaranteed universal policies - we will save a few hundred dollars a year and add 100k onto the benefit. My husbands policy was bought in 1999, mine in 2001. We were not using the existing policies as an investment. Does it make sense to change now? (we are in our early 40's) The agent suggested that in the future insurance costs may rise, and we may not be able to afford the current policy- but the new policy rates are guaranteed to never increase. Any thoughts or advise?
Variable Universal Life Insurance? **Experienced Life Pros only, please** Working with a couple now, and they need Life Insurance. They need a last sourvivor policy for estate planning, so Term is out. Young couple, in their 30's. With a VUL, is there any time that a single pay contract would make sense? I can't figure it out, but since it's an option, I need to go over it for compliance reasons. Please help A.S.A.P.!!!
Is variable universal life insurance a good alternative to college savings plan? It is confusing!!!?
What are the pros/cons of Universal Variable Life Insurance? Who are the good providers. What kind of questions to ask and know about hidden costs/risks/returns. Thanks for your time in advance. sansoo
Variable Universal Life Insurance Vs. Mutual Fund? what are the benefits and draw-backs for those? which is better?
Life Insurance: Variable Life vs Whole Life, which one is really better? Is Whole Life premium more money than Variable Universal Life? I asked for a Whole Life insurance quote from one of the big insurance companies around, instead the agent tries to convince me that I should go with Variable Universal Life. He said Whole Life premium is always higher than Variable Life. He generated a printout for Variable Universal Life but not for Whole Life. I just want my premium to remain fixed in my old age and dont want the death benefit to fluctuate hence I prefer Whole Life. He stated that the death benefit is guaranteed for VUL. Is it really? I have a feeling it's not and that the premium for VUL will increase in my old age since it's dependent on my market investment. I'm beginning to think that his commission for selling Variable Life is more than selling Whole Life. I'm 37 female, non-smoker, in good health. I dont believe Whole Life premium would be that much higher than VUL. Any input is appreciated.
please explain how universal life insurance works in details? is it the same as variable insurance wherein you can increase or decrease your insurance coverage for the same premium or universal life have a fix premium for a given age and amount and if you want to increase your coverage, you just add a yearly term insurance?How do you increase its coverage? Will it affects the premium if you want additional coverage? I understand variable life insurance has a range of minimum to maximum coverages for a given premium, is it the same with universal life?please explain in details how the entire process works.
What are my options of getting out of a variable universal life ins. policy? I have a domestic partner, we are both in out 40s and we invested in this variable univ. life policy as a way to diversify and to provide life insurance for one another. We think we have made a mistake based on our research about var life ins policies as investment vehicles. What are our options of getting out of it?
Are Variable Life a good investment vehicle? My financial advisers sold me a Universal Variable Life Insurance investment vehicle, but I feel that it's in the negative all the time. I am looking for some advice...
What is your opinion of VUL? Variable Universal Life? I know their fees are ridiculously high and their returns aren't anything special. I feel that it's smarter to buy term life insurance and invest in no load mutual funds versus putting money somewhere that charges fees for everything.
for lifetime protection which insurance plan is best - whole life, universal life or variable life? i want a lifetime coverage for income continuation, & asset protection. which do you think is the best taking everything into consideration?
What is the best type of life insurance? Between whole life, universal life, variable life, and term.
variable universal life question? ok I see a lot of primerica agents in insurance questions like they know what their talking about here's a question an don't say buy term invest the rest it doesn't make sense every persons situation is different an unique. A single 22 year old male in shape no health problems with family history of hearth disease works 9 to 5 has a carpenter making 45K a year that contributes to is 401k an his currently buying a120k home plans to get married at 32 should he buy a VUL policy if no why not an what should he buy thank you for your time i'm sure alot of people will read this post I think herman is the best answer cause with a family history of a diseas life insurance is important for the long term an even tough variable isn't for everyone it does provide the best of both worlds if i picked term eventually it would expire an it would cost to much to convert it
Workable Business Opportunity? Variable Universal Life Insurance Policies (VUL) makes up over 20 percent of the Life Insurance Market. There are so many negatives to VULs. 1) Charges a ridiculously high fee every month. 2) Carries a huge surrender charge if you can't afford to maintain the policy or decides to exit the policy. 3) Average performance of about 8 percent a year. I find it is so much better to buy term life insurance for a one time fee and investing that difference somewhere else. Would you think it's great if we can convince ppl with VUL to exit their policy and switch to buying term life insurance and have us manage the money leftover? Would that be a great way to find clients or investors?
Investment question about how to track your investments? I have a variable universal life insurance policy in which money is invested into im pretty sure mutual funds maybe. But the subaccounts they have are Small/Mid Cap, Small Cap-Idx, Internatil-Idx, Large Cap, Large Cap-Idx, Bond. Thats what is says. Then it lists account value, total units, unit price, ect. Basically i wanted to know how to find those accounts? Do i have to contact to get the specifics, or are those subaccounts already specific enough to find? I want to enter this into Quicken so i can track the losses and gains. Any help would be very helpful. thanks!
What to do with cash and loans? I'm 30 years old and have the following in loans and cash. I have a very good paying job and no mortgage. I'm trying to determine what to do, save more cash or begin paying down debt. Obviously I need to maintain some cash base for issues that may come up. Cash: $6,000 in savings yield 4.25% $12,000 in stock market investments (up from $8,000 in Jan.) Loans: $10,000 left on undergraduate at 3.25% $41,000 left on graduate at 5.25% $14,000 left on car loan (3 yrs. to go) at 7% $5,000 in credit card debt 0% until September of 2008 I contribute to 401K, IRA, GE direct stock, kids college, and I have a universal variable life insurance. The life insurance policy is worth around $4,500. I have approximately $2,700 a month in expenses; this number includes the kids college fund, GE direct investment, and life insurance policy. To your point, I do have 6 months of expenses in cash. Thank you very much for your responses, it is appreciated. The credit card has a $10,000 limit.
Is UVL valid option for couple who can not invest in ROTH IRA? Hi, we are considering investing into Universal Life , or Variable Universal life, or Whole life insurance. We can not invest into ROTH IRA due to income level. We are both 35 years old and are looking for this to help us make it between 55 when we would like to retire and 60 years of age when we can pull money from our 401k and IRA. Are these good options or should we stay away from them considering the fees? THanks
Should I invest in a Roth IRa or Variable Universal Life Insurance Policy? I have a 401k/ Not married, no children, but my advisor says it is wise to invest in a variable universal life policy while I am young (the premiums are lower) so it builds cash value to aid in retirement plus I will have the death benefit for later on when I am married and have kids. Susie Orman thinks this is a bad idea and that 401ks and Roth IRAs are the way to go. Other people think differently. I am confused on what to do and wonder if people who have actually signed up for a Variable Universal Life policy have actually seen the cash value results when they have retired. My illustration shows about $600,000 cash value when I am 70- that is with a 12% return. I am wondering if I should go with this policy or use the $200/month it would cost to fund this and invest it in a Roth IRA instead or put more towards my 401k. Any serious advice would help!
Should I invest in a Roth IRa or Variable Universal Life Insurance Policy? I have a 401k/ Not married, no children, but my advisor says it is wise to invest in a variable universal life policy while I am young (the premiums are lower) so it builds cash value to aid in retirement plus I will have the death benefit for later on when I am married and have kids. Susie Orman thinks this is a bad idea and that 401ks and Roth IRAs are the way to go. Other people think differently. I am confused on what to do and wonder if people who have actually signed up for a Variable Universal Life policy have actually seen the cash value results when they have retired. My illustration shows about $600,000 cash value when I am 70- that is with a 12% return. I am wondering if I should go with this policy or use the $200/month it would cost to fund this and invest it in a Roth IRA instead or put more towards my 401k. Any serious advice would help!
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