So... What is a V.U.L
01-11-2014, 05:52 PM
#21
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Join Date: Jun 2003
Location: Chicago
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Jeff is right on the money. If you don't understand these products....like most people buying and selling them, then stay away. Insurance and investing don't mix.
Personally, I'd run away. Life insurance isn't, and shouldn't be, a savings account. This setup is constructed to be more easily marketable by having a cash account component.
Want some level of security for those you might leave behind? Buy cheap term life insurance. 10yrs, 20yrs, whatever you think you might need. I took out a term life policy in my 20s - $250k for a couple hundred per year. Double that if it's an accidental death. By the time it expires, I'm effectively self-insured by the value in my retirement accounts.
Want some level of security for those you might leave behind? Buy cheap term life insurance. 10yrs, 20yrs, whatever you think you might need. I took out a term life policy in my 20s - $250k for a couple hundred per year. Double that if it's an accidental death. By the time it expires, I'm effectively self-insured by the value in my retirement accounts.
01-19-2014, 07:46 AM
#22
Thanks everyone. I did follow you guys' advice and stayed away.
I am not very concerned with making money but more concerned about the products I would be selling if I decided to join. I would be really happy like many others to make more money but if the products I sold would hurt people, I would rather not do it.
I am not very concerned with making money but more concerned about the products I would be selling if I decided to join. I would be really happy like many others to make more money but if the products I sold would hurt people, I would rather not do it.
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