When I meet a client I am like a dry sponge who is ready to absorb all clients informations. I don’t have products or solutions to offer in my hand yet. I don’t expect to make a sale what I am hoping is to be able to explain clearly what possible solutions fit with their need and hoping they will understand it well. I don’t care what is the performance of the market yesterday or today because if it does not tell me how it will perform tomorrow or years to come it does not help my clients choice of term or whole life insurance.

These are some of my real life cases:

A 67 years old can’t be insured because of his health condition. This was after his 20 yr term insurance expired. Now that his family badly needs it the life insurance is not there anymore. My suggestion is check your life insurance contract and ask yourself, will it be there when you get old? Will the premium increase? Can I afford it at that time? Cheap does not mean anything if it is not right for you. And unfornately in life insurance there is no reset button that allows you to start all over again.

I have another case that her UL premium is increasing. She bought her universal life on her early 40s and now she is on her mid 60s. I notice on her contract there no more guarantees at her age now. We ended up providing a whole life insurance with dividend and cash value.

I can tell you more facts about life insurance. But in the end the question is, was he/she insured?

rWhen buying a life insurance review the illustration properly don’t be excited with the huge death benefit and small premium if you are in this scenario, statistically nothing is expected to happen to you sometime soon.

Mutualy owned insurance company gives dividend and cash value which accumulates more and faster after time. Study closely the illustration you will be surprise the benefits it can provide.

Choose company that has excellent ratings it will give you more guarantees that they are there for you and your family when you need them.

Price only becomes an issue in the absence of value.

Why would anyone want to chance life insurance on a website from a no name company? People have to understand what life insurance does and what each company risks by giving you and me insurance. Remember you are buying dollars with pennies…..who really wins??? If you buy a 20yr term policy at $500,000, will that company 19 years from now be around to pay that claim or even be able to service it???

What if you have questions? do you call up some 1800 number to get service or answer questions on it? What if you want to convert your term to a perm someday? What about additional riders, to protect children, or ability to buy more insurance, or purchase long term care. Did you know that some companies allow you to use some of your death benefit for a terminal illness even before you die? Would that 1800 tell you that….Some companies bundle life insurance with guarantee issue disability policies. Amazing

Why in the world would you ever chance your family, your children’s lively hood to some Internet website company that doesn’t know a single thing about you????

Also, most agents can shop around for you and do the grunt work. They don’t get paid until they sell the policy. So why not build a personal relationship and let them do the shopping for you. It’s a win win.

I urge you to speak with a local agent and do research other than just this one website.
I find it hard to take advice from someone that is not a professional, has no training, and no experience selling life insurance. It requires many licensees and certifications to be certified by the US gov’t to sell these products. No easy task. So beware of information coming from someone that just had an one experience. If an author completely denounces perm insurance then that only shows how inadequate their knowledge is of this industry….lol.

Would you trust a auto mechanic to do open-heart surgery?

By the way, I would stay away from Primerica, just read consumer reports. And look at the bankrupt company that owns them…. hmmmm

(Dean, you hit the nail on the head) As for the tax treatment of the two vehicles, you must question whether a 401(k) or IRA is the smartest tax strategy. With a rising federal deficit and historically low tax brackets, the general consensus is that taxes will go up in the future. So you’re deferring all of your taxes to when the tax rates may be higher? Doesn’t make sense to me. The smartest thing to do would be to diversify both in pre-tax and after-tax investments, because we can only guess at what taxes are actually going to do.

One final thought: If cash value life insurance is such a bad “investment,” why do banks view it as Tier 1 Capital and own billions upon billions of dollars in cash value?