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Over funded Life Insurance

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Over funded Life Insurance

 
Old 04-19-2016, 02:35 PM
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Originally Posted by bgoetz View Post
Originally Posted by riceball777' timestamp='1461059548' post='23942460
Most people need whole life insurance. The reason being is that the idea of buying term and investing the difference so that when your in the 60's you won't need life insurance is a great idea and great plan. But the truth is that 90% of most people don't do that and will still be broke at that age and will still need/want life insurance. You can amazing the sob stories I hear all the time from old broke people in there 70's crying cuz there term policy expired or the price got so absurdly high that they can't arrows the policy anymore, wishing they bought whole life when they were young. But then again I only deal with average people not not the top 20% of whome can actually build a retirement for themselves.

I been selling all types of life insurance full time for a living for the past 10 years now.
So what are your thoughts about over funding an adjustable rate whole life policy as a way to "kill 2 birds with one stone"? Based on the comments so far I sorta decided to stick with our term policies and put it all in a Roth then figure things out if and when we exceed the income cap, but if you can convince me different....
adjustable rate policies are universal life policies and not whole life policies. Rates and coverage amounts are locked in for life for whole life policies. If you truly are serious about inversting/making money/and retiring early just buy term and invest wisely. But like i said the issue is that this does not pan out or work for most people
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Old 04-19-2016, 06:01 PM
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Originally Posted by riceball777 View Post
Originally Posted by bgoetz' timestamp='1461070098' post='23942574
[quote name='riceball777' timestamp='1461059548' post='23942460']
Most people need whole life insurance. The reason being is that the idea of buying term and investing the difference so that when your in the 60's you won't need life insurance is a great idea and great plan. But the truth is that 90% of most people don't do that and will still be broke at that age and will still need/want life insurance. You can amazing the sob stories I hear all the time from old broke people in there 70's crying cuz there term policy expired or the price got so absurdly high that they can't arrows the policy anymore, wishing they bought whole life when they were young. But then again I only deal with average people not not the top 20% of whome can actually build a retirement for themselves.

I been selling all types of life insurance full time for a living for the past 10 years now.
So what are your thoughts about over funding an adjustable rate whole life policy as a way to "kill 2 birds with one stone"? Based on the comments so far I sorta decided to stick with our term policies and put it all in a Roth then figure things out if and when we exceed the income cap, but if you can convince me different....
adjustable rate policies are universal life policies and not whole life policies. Rates and coverage amounts are locked in for life for whole life policies. If you truly are serious about inversting/making money/and retiring early just buy term and invest wisely. But like i said the issue is that this does not pan out or work for most people
[/quote]

Ok yeah, sorry I guess I thought that the only difference in the adjustable rate was the investment end of things. At least in what we were looking at there was a cap of how low the death benefit can go.
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