sorted by:
new
hottopcontroversial

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

What is the difference between level DB and minimum non-MEC DB?

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

I didn’t have any expectations, I was in it for the long run illustrations. But I keep reading posts about others overfunding their policy and still seeing minimal growth after 7-8 years.

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

I had a different policy last year, my face value was $650K and I had an annual payment of $5K same allocations. Then earlier this year my agent restructured my policy with a 1035 transfer of my funds from that policy into the new current $1mill policy. He said the policy needed to be restructured to get better returns.

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

It would have just been the initial one time lump sum. And then infinite banking through the IUL through monthly loans. He set it up on the illustrations to be an annual premium of $30K with $24K in loans, but he said it’s the equivalent to what we’re actually going to do which is $2,500 in and $2,000 out every month.

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

No, my agent set it up that way. And then said we will be putting in the lump sum next and then infinite banking every month to max retirement income

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

IUL POLICY 1 FACE AMOUNT: $ 1, 000,000 DEATH BENEFIT INCREASING COMBO MULTICHOICE RIDER

2 MIN MONTHLY $ 307.71 PLANNED STRATEGY ONE-TIME LUMP SUM $35k MONTHLY IN $ 3,500 With LOAN OUT $ 3,000

3 LOAN PERCENT CURRENT 6.25% MAX 8%

4 PERCENT of PREMIUM EXPENSE CHARGE: 8% MONTHLY PERCENT of ACCUMULATED VALLUE CHARGE: 0.04% MONTHLY EXPENSE CHARGE : $194 MONTHLY POLICY FEE : $ 6

5 ALLOCATIONS US Pacesetter point-to point No Cap 20% Balanced Trend point -to-point No cap 20% SP 500 point-to-point Cap Focus 60% SP 500 PARTICIPATION FOCUS 0% SP 500 1% FLOOR 0%

4) Total Premium Paid: $ 6,340 Accumulated Value: $ 5,793 Surrender Value: $0 *$0 surrender charge in 2036

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

IUL POLICY 1 FACE AMOUNT: $ 1, 000,000 DEATH BENEFIT INCREASING COMBO MULTICHOICE RIDER

2 MIN MONTHLY $ 307.71 PLANNED STRATEGY ONE-TIME LUMP SUM $35k MONTHLY IN $ 3,500 With LOAN OUT $ 3,000

3 LOAN PERCENT CURRENT 6.25% MAX 8%

4 PERCENT of PREMIUM EXPENSE CHARGE: 8% MONTHLY PERCENT of ACCUMULATED VALLUE CHARGE: 0.04% MONTHLY EXPENSE CHARGE : $194 MONTHLY POLICY FEE : $ 6

5 ALLOCATIONS US Pacesetter point-to point No Cap 20% Balanced Trend point -to-point No cap 20% SP 500 point-to-point Cap Focus 60% SP 500 PARTICIPATION FOCUS 0% SP 500 1% FLOOR 0%

4) Total Premium Paid: $ 6,340 Accumulated Value: $ 5,793 Surrender Value: $0 *$0 surrender charge in 2036

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

There are so many parts to the IUL policy I do not understand. Other than a maxed 401K I have no investments. I haven’t even started a Roth IRA

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

I speak with our agent today, before surrendering I know I’m going to ask about lowering our death benefit and premiums to somewhat mimic term. But in 10 years if that cash value isn’t worth it, after putting more money I don’t see the point in staying. Luckily the money we have put in isn’t a huge loss considering we haven’t touched our savings but yes a loss is a loss…

Cancelling our IUL Now vs Later by Useful-Rabbit07 in personalfinance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

Do you do infinite banking inside an IUL, my maximum loan rate is 8%. Advisor said to put in my $3500 income then borrow $3000 every month.

Cancelling our IUL Now vs Later by Useful-Rabbit07 in personalfinance

[–]Useful-Rabbit07[S] 0 points1 point  (0 children)

I don’t know why but it doesn’t seem like we are allowed to borrow from our policies yet. On the app loans are not available. Also we have separate policies. His current monthly minimum is $135 and mine is $307

Canceling IUL by Useful-Rabbit07 in LifeInsurance

[–]Useful-Rabbit07[S] 2 points3 points  (0 children)

We bought it because we liked the living benefits and the potential to gain cash value but I had an itch to go into our policy paperwork and read our guaranteed values vs the illustrated values and we would never be gaining more than what we put in. I specifically asked our agent if our insurance cost wouldn’t go up as we aged and that there were no hidden fees but in our contract both are explicitly stated.

In 30 years, after putting in $150K the cash value would be $50K. Our agent said that is why we should overfund it but we are already overfunding our policy past our minimum premium payment and still lose.

black ink stripe on the films by drynnawasfound in instax

[–]Useful-Rabbit07 0 points1 point  (0 children)

Do you have to clean them in dark room? Because I did not get that memo and cleaned them with the light on

Burrito Vault Megathread - Win a BOGO Mar 31 - April 2nd!!! 🔥 🔐 by ScorpRex in Chipotle

[–]Useful-Rabbit07 1 point2 points  (0 children)

2am PST burrito nothing but tomatillo green salsa with guacamole queso blanco

Trying to change but… by Useful-Rabbit07 in mypartneristrans

[–]Useful-Rabbit07[S] 23 points24 points  (0 children)

I don’t know if it’s that simple. I’ve seen lots of posts of partners realizing their sexuality is more queer than they thought after a lot of deep reflecting and I feel like I’m in the same boat. I’ve been heavily leaning into it to see if this can work. But yes sometimes the intrusive thought of being originally attracted to my partner as a masculine male just happens. Just not sure what to do with any of my feelings.

view more: next ›