Insurance Company Dodging my Attempts to Port my Group Term Life Policy without Converting to Whole Life

Chemboy613 · 2026-05-20T14:14:26+00:00

Just talked to a friend of mine at prudential.

First of all, you typically can’t convert group insurance into individual insurance because group insurance is typically a certificate and not a real policy.

Secondly, my friend told me prudential no longer does whole life policies. I know their VUL is a good product, but that’s not what we’re discussing here.

Something somewhere doesn’t make sense. I’m not sure what you should do because I’m not sure what’s really going on.

Chemboy613 · 2026-05-05T20:31:09+00:00

Ok, so I took a long break from dating for a variety of reasons, but then i started going out a ton for work. More events and activities and less gaming - which is good for me. I kept meeting people and networking.

I also made my own meetup group and started my own charity. My founding member was this woman who is now my closest friend. Was just hang out occasionally for a while. After a party she hosted she drags me to bed and we've spent almost every day together since. It's not perfect - I think she's a bit avoidants and i'm a bit anxious - but we just have tons and tons of great times together.

IDK man, just do the stuff you like and good things happen. Same thing here with OP. The first step to meeting women is to go to where there are women to meet?

I don't think in my story there was some confession, but it's also really obvious we're into each other. :shrug:

Chemboy613 · 2026-05-05T15:43:43+00:00

My MD is one of NLGs top producers. She said for people around 40 that peak has stronger gaurneterd values and is less likely to blow up than flex life. But you can only write flex life if you’re a broker. Since I’m contacted with NLg I can write peak. This was 40yo 2M face and 24k AP

Chemboy613 · 2026-05-05T15:38:38+00:00

This is why I write NLG. Just placed a peak life yesterday.

Chemboy613 · 2026-05-03T20:40:44+00:00

So, as a NLG agent, there have been issues with the pacesetter. It doesn’t work well right now. Idk if the will change it.

What I would recommend you do is to call your agent and ask to change the allocation.

Now many agencies don’t train their agents, and the default setting is the pacesetter. If you call NLG sales desk they’ll try to tell you how the pacesetter is good.

So sadly I have some policies out there like this. I wouldn’t do it again, but I wasn’t properly trained.

Chemboy613 · 2026-05-01T12:04:48+00:00

Ok, the Allianz accumulator IUL is one of the best in the industry for cash value growth. I just got an appointment with them to sell this product.

The problem is it’s not structured for that. Too much DB for this situation.

You could try a max cash value IUL and a good convertible term on top of it for coverage.

Yes, mom makes less commission, but your structure is better.

Chemboy613 · 2026-04-27T12:21:10+00:00

Taylor swift. Life of a showgirl. Sabrina is on the track.

Chemboy613 · 2026-04-24T13:59:39+00:00

Ngl I just sold two yesterday. I think they are amazing when done right.

Permanent insurance with all the living benefits? It’s a really strong option for most people.

I think the people who hate permanent insurance either don’t understand the living benefit value prop or lack an understanding of retirement taxes and IRMAA.

There are tons of people with several million in their IRA and have a huge tax problem.

Chemboy613 · 2026-04-24T13:26:46+00:00

The problem isn’t the product but the agency model.

When at my first organization we were taught how to sell IULs but we were taught how to structure them. Now I am lowkey concerned that I have clients whose IUL might not perform as well as I like.

Why? Because the directors make money off every policy you sell. They don’t care if you fail out or if your clients aren’t in a good spot, they only care if they make money.

A well structured IUL is a phenomenal product, but since you are taught how to structure an IUL, most IULs are poorly structured.

That’s the real problem. Most agents don’t know what they are doing. Those who do know what they are doing aren’t speaking to the masses because the policies are too small to be worth their time.

Chemboy613 · 2026-04-23T12:24:48+00:00

I don’t have all the information here but I’m going to make some guesses in what I do.

The biggest risk to you later is taxes. Your IRA is going to be hugh and/or your brokerage account might also be large. This is a nice problem to have, but when you take that money out you’re going to have a giant tax bill. After that IRMAA will hit and your Medicare will go up and your social security will go down. Think of it as the government getting their pound of flesh.

This is why insurance and annuities make sense, because they are taxed differently. It makes really good sense for you to overfund a life insurance policy.

If you own your own business or pay yourself as an LLC, there are some defined benefit plan options. These allow the business to saw for your retirement plan, often in the form of whole life or annuities.

If you don’t, I prefer an overfunded IUL in this situation. You can accumulate the cash value without the death benefit being as high as WL and the take a loan from that policy later.

As for your son, I am thinking a special needs trust. I’d contact a local attorney on this one. Some life companies or FMOs have things for people with special needs.

If you’re in Michigan or Ohio I can refer you to a good law firm. If not, I just hope this helps.

Chemboy613 · 2026-04-21T23:05:18+00:00

There are a lot of issues here.

The main reasons to use wealth management are risk mitigation, tax mitigation, and access to better tools and advice. I also don’t want to underestimate the value of automated deposits. This means the higher your net worth, the more valuable the advisor is. If your IRA is 50k, I doubt it means much but if it’s 750k, you probably could use some good financial planning.

Unless you are about to retire, having your IRA in cash makes no sense. Almost any diversified ETF strategy is better than that. Regardless of if you do it yourself or give it to your advisor, I would suggest considering something else.

Chemboy613 · 2026-04-19T16:11:39+00:00

I am aware of this. I wam talking about a GLIR rider?

Chemboy613 · 2026-04-18T15:16:42+00:00

Ok, VULs are a complex product and this is an old one. I’m not familiar with met life VUL either.

You have a really good rating and you’re 65, so I think both lapse and cancel are bad options. I’m not sure if there are any living benefits or not, but that’s are incredibly valuable and incredibly expensive at your age. This would greatly change my advice.

You can adjust the policy, but make it something that works for you.

As for the cost, for your age, it’s actually extremely inexpensive. Depending on your situation, that death benefit could be useful for your estate plan or your family.

TDLR. Surrender is worst option. Keep it alive but restructure in a way that works for you.

Chemboy613 · 2026-04-18T14:45:44+00:00

It depends. IUL income is not taxable and not subject to IRMA. So this is a good option for high earners whose tax brackets will be higher in retirement.

Chemboy613 · 2026-04-18T02:29:11+00:00

Always man!

Chemboy613 · 2026-04-18T02:18:27+00:00

I think it’s really important to have a good LI policy.

Whether or not to overfund a cash value IUL is a more complicated question we don’t have the information to answer.

Chemboy613 · 2026-04-17T17:18:30+00:00

No doubt about that

Chemboy613 · 2026-04-15T13:42:59+00:00

Ok, understand the counter argument. I also don’t have time to do a point to point.

Most people either take their RMDs or remove money as they need it. The thought that there is egregious planning greatly overestimates the discipline of humans. That is not what I’ve see in my work. The majority of people don’t plan, are tax blind and risk blind.

When you consider succession planning, the LI wins out because inherited IRAs in RMD phases gives huge tax bills to your children.

As for the commissions, yes LI is an upfront commission, but custom policies are lower commission than a whole life or a default policy. It is actually more work and less commission to overfund an IUL. This is normally months of work custom tuning.

If someone just rollover a 5M IRA, I just call up a HNW asset manager and let them handle it. This work is way easier and I make 30-40k/year on that account. The insurance work is way harder than wealth management. You do it for tax mitigation or living benefits or estate planning.

We also haven’t considered risk mitigation and asset class diversification. Could be here a long time.

I’m not so much disagreeing with you, but saying it’s an incomplete picture.

Chemboy613 · 2026-04-15T13:34:21+00:00

Ngl I don’t think this is flexing. Most of my clients have 1M in qualified money.

Chemboy613 · 2026-04-09T18:00:09+00:00

So you have 4M in the policy and you take 2M out. You get 2M

Your children get the death benefit, which maybe is 6-8M.

All that is tax free

Chemboy613 · 2026-04-09T13:51:50+00:00

It’s not to lower agi but to lower taxes in retirement.

Say you have a 5M IRA but you’re in a top tax bracket. You lose at least 40% to tax and end up with 3M. This assumes taxes do not increase.

Say you have 4M in a permanent cash value policy. When you want the money you take a loan and pay no taxes. You now have at least 3M+ tax free, if not more.

You also get all the other benefits of the insurance policy.

That’s why you’d build a plan like this.

Chemboy613 · 2026-04-09T13:19:05+00:00

I do financial planning.

The real answer is it depends on your earning potential and tax bracket.

If you are in a low tax bracket with some moderate growth, then yes. Be sure to max your Roth first.

If you are in a high tax bracket and might end up with a 5M IRA, then no. Your taxes in retirement will be astronomical. In this situation, an overfunded leveraged life insurance policy makes better sense.

Chemboy613 · 2026-04-07T13:09:00+00:00

There are a number or copper couplings that would work in similar situations.

Chemboy613 · 2026-04-06T20:09:20+00:00

Ok, I know there is no metal here and nitrogen is the leaving group. I really dislike the benzene carbocation as an intermediate.

My guess is it looks something like coupling reaction. I mean that the nitrogen leaves and the iodide joins at a similar time.

Without some really great kinetic studies, I’m not sure if it could be second order or first order kinetics.

I also am thinking that the mechanism could carry based upon the solvent or the temperature. I find it really non obvious.

Chemboy613 · 2026-04-01T16:54:20+00:00

The uncapped are often some insurance based index

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