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January 20, 2011 at 2:16 PM in reply to: Does anyone have advice about whole life insurance? #657334January 20, 2011 at 2:16 PM in reply to: Does anyone have advice about whole life insurance? #657663
ljinvestor
ParticipantIf he needs coverage and this is guaranteed issue (meaning they don’t have to go through paramed & UW) then I would take it right away then look for cheaper alternative.
If you look at the chart for 48yo at $100k coverage it is $250 annually which is a little less than the avg cost of 10yr guaranteed term on a Standard Non Tobacco Male with quality carriers ($280-$310). Pref NS male would be approx $180-$200yr with those carriers.
At age 50 VGLI is $410 then at age 55 $763. They have the right to raise rates too. I only see this as a good option if his health is worse than Standard or he uses Tobacco & they take him at the rates shown on the form. If he has good health he might as well lock in rates now with a 10-20 guaranteed term from competitive carrier such as ING, TransAmerica, Protective, Principal, Metlife. Best to use agent that has access to many carriers because some have better rates at Pref while others are better at Std
January 19, 2011 at 6:44 AM in reply to: What’s preventing listing realtors (on short sale homes) from favoring friends or relatives? #655700ljinvestor
ParticipantYou should almost think about short sales as playing the lottery. Chances are slim but usually a great deal if you get it. Don’t get too frustrated as it will only cause more stress and unfortunately you or me can’t change the current system
January 19, 2011 at 6:44 AM in reply to: What’s preventing listing realtors (on short sale homes) from favoring friends or relatives? #655762ljinvestor
ParticipantYou should almost think about short sales as playing the lottery. Chances are slim but usually a great deal if you get it. Don’t get too frustrated as it will only cause more stress and unfortunately you or me can’t change the current system
January 19, 2011 at 6:44 AM in reply to: What’s preventing listing realtors (on short sale homes) from favoring friends or relatives? #656360ljinvestor
ParticipantYou should almost think about short sales as playing the lottery. Chances are slim but usually a great deal if you get it. Don’t get too frustrated as it will only cause more stress and unfortunately you or me can’t change the current system
January 19, 2011 at 6:44 AM in reply to: What’s preventing listing realtors (on short sale homes) from favoring friends or relatives? #656499ljinvestor
ParticipantYou should almost think about short sales as playing the lottery. Chances are slim but usually a great deal if you get it. Don’t get too frustrated as it will only cause more stress and unfortunately you or me can’t change the current system
January 19, 2011 at 6:44 AM in reply to: What’s preventing listing realtors (on short sale homes) from favoring friends or relatives? #656826ljinvestor
ParticipantYou should almost think about short sales as playing the lottery. Chances are slim but usually a great deal if you get it. Don’t get too frustrated as it will only cause more stress and unfortunately you or me can’t change the current system
January 18, 2011 at 7:36 AM in reply to: Does anyone have advice about whole life insurance? #655180ljinvestor
ParticipantYes, insurance doesn’t work well if you combine the risk need & investment. The more death benefit you purchase, the higher the cost of insurance and expenses are which lower any return in the future.
Insurance as an investment is typically only good for two groups. Younger 30-50yo with plenty of extra income that are already well diversified and have an approx 20yr timeline before taking any loans/withdrawals, or older individuals 60-80yo wanting to pass on legacy assets income tax free and then ROR on death benefit should be the focus.
If you don’t have lots of extra income each year then listen to a majority of the piggs and purchase a 20-30yr term to take care of the risk. If you are looking at it as another investment opportunity then buy the lowest death benefit for whatever amount you invest that still qualifies it as a life insurance contract with tax benefits (non mec) and use a high early cash value product in case you need to get to funds early. Lower death benefits and high early cash value mean less commission for agent
Besides NWML, I believe that New York Life, Mass Mutual, John Hancock, and Metlife are all considered strong companies with good whole life products.
January 18, 2011 at 7:36 AM in reply to: Does anyone have advice about whole life insurance? #655242ljinvestor
ParticipantYes, insurance doesn’t work well if you combine the risk need & investment. The more death benefit you purchase, the higher the cost of insurance and expenses are which lower any return in the future.
Insurance as an investment is typically only good for two groups. Younger 30-50yo with plenty of extra income that are already well diversified and have an approx 20yr timeline before taking any loans/withdrawals, or older individuals 60-80yo wanting to pass on legacy assets income tax free and then ROR on death benefit should be the focus.
If you don’t have lots of extra income each year then listen to a majority of the piggs and purchase a 20-30yr term to take care of the risk. If you are looking at it as another investment opportunity then buy the lowest death benefit for whatever amount you invest that still qualifies it as a life insurance contract with tax benefits (non mec) and use a high early cash value product in case you need to get to funds early. Lower death benefits and high early cash value mean less commission for agent
Besides NWML, I believe that New York Life, Mass Mutual, John Hancock, and Metlife are all considered strong companies with good whole life products.
January 18, 2011 at 7:36 AM in reply to: Does anyone have advice about whole life insurance? #655838ljinvestor
ParticipantYes, insurance doesn’t work well if you combine the risk need & investment. The more death benefit you purchase, the higher the cost of insurance and expenses are which lower any return in the future.
Insurance as an investment is typically only good for two groups. Younger 30-50yo with plenty of extra income that are already well diversified and have an approx 20yr timeline before taking any loans/withdrawals, or older individuals 60-80yo wanting to pass on legacy assets income tax free and then ROR on death benefit should be the focus.
If you don’t have lots of extra income each year then listen to a majority of the piggs and purchase a 20-30yr term to take care of the risk. If you are looking at it as another investment opportunity then buy the lowest death benefit for whatever amount you invest that still qualifies it as a life insurance contract with tax benefits (non mec) and use a high early cash value product in case you need to get to funds early. Lower death benefits and high early cash value mean less commission for agent
Besides NWML, I believe that New York Life, Mass Mutual, John Hancock, and Metlife are all considered strong companies with good whole life products.
January 18, 2011 at 7:36 AM in reply to: Does anyone have advice about whole life insurance? #655978ljinvestor
ParticipantYes, insurance doesn’t work well if you combine the risk need & investment. The more death benefit you purchase, the higher the cost of insurance and expenses are which lower any return in the future.
Insurance as an investment is typically only good for two groups. Younger 30-50yo with plenty of extra income that are already well diversified and have an approx 20yr timeline before taking any loans/withdrawals, or older individuals 60-80yo wanting to pass on legacy assets income tax free and then ROR on death benefit should be the focus.
If you don’t have lots of extra income each year then listen to a majority of the piggs and purchase a 20-30yr term to take care of the risk. If you are looking at it as another investment opportunity then buy the lowest death benefit for whatever amount you invest that still qualifies it as a life insurance contract with tax benefits (non mec) and use a high early cash value product in case you need to get to funds early. Lower death benefits and high early cash value mean less commission for agent
Besides NWML, I believe that New York Life, Mass Mutual, John Hancock, and Metlife are all considered strong companies with good whole life products.
January 18, 2011 at 7:36 AM in reply to: Does anyone have advice about whole life insurance? #656308ljinvestor
ParticipantYes, insurance doesn’t work well if you combine the risk need & investment. The more death benefit you purchase, the higher the cost of insurance and expenses are which lower any return in the future.
Insurance as an investment is typically only good for two groups. Younger 30-50yo with plenty of extra income that are already well diversified and have an approx 20yr timeline before taking any loans/withdrawals, or older individuals 60-80yo wanting to pass on legacy assets income tax free and then ROR on death benefit should be the focus.
If you don’t have lots of extra income each year then listen to a majority of the piggs and purchase a 20-30yr term to take care of the risk. If you are looking at it as another investment opportunity then buy the lowest death benefit for whatever amount you invest that still qualifies it as a life insurance contract with tax benefits (non mec) and use a high early cash value product in case you need to get to funds early. Lower death benefits and high early cash value mean less commission for agent
Besides NWML, I believe that New York Life, Mass Mutual, John Hancock, and Metlife are all considered strong companies with good whole life products.
ljinvestor
ParticipantI think you are going to have more competition for properties priced under $500k.
Anyone notice the backyard picture from the RP flip on Prairie Dog. They put the sod right up to the foundation/stucco and it looks like the sprinklers spray the stucco pretty good.
ljinvestor
ParticipantI think you are going to have more competition for properties priced under $500k.
Anyone notice the backyard picture from the RP flip on Prairie Dog. They put the sod right up to the foundation/stucco and it looks like the sprinklers spray the stucco pretty good.
ljinvestor
ParticipantI think you are going to have more competition for properties priced under $500k.
Anyone notice the backyard picture from the RP flip on Prairie Dog. They put the sod right up to the foundation/stucco and it looks like the sprinklers spray the stucco pretty good.
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