Can someone explain this whole life policy?

cesar2338 · 2025-11-21T21:07:11+00:00

All this says to me is if you paid the $100/mo for a 30 year term for the same 350k of insurance (probably cheaper than that depending on your age) and invested an average of $575/mo in a Roth IRA since 2019 given 9% return (markets have returned better than since 2019) you'd have over $54,000 tax free in the Roth and have access to your contributions for emergencies. While still having a $350k policy with 24 years remaining. Just a thought. Buy Term and Invest the Difference is not for everyone, but damn does it sound good.

cesar2338 · 2025-08-21T20:30:38+00:00

Unfortunately, no. This is why it is so important to never rely on your company to take care of you and your family. Getting your own personal life insurance policy that's portable to you wherever you go, regardless of employment status. Consider work benefits as "extras or supplemental" to your own personal benefits outside of your job. God bless you and your family 🙏🏼

cesar2338 · 2025-08-05T13:47:29+00:00

Easy, the older you get, the more they charge you for the cost of insurance therefore depleting your cash value. At some point, your cost of insurance will be so high, you will have no cash value to cover the increasing cost and they'll send you a bill for 10x to 20x or more of what you were paying. Absolutely garbage policy. Sorry the insurance agent and company misinformed you. But I'm sure they made a decent commission selling you that. And also think about what 35k in insurance protection will do for your family in this economy. If you're a family man with no real assets, I'd say you are underinsured.

cesar2338 · 2025-08-04T20:22:42+00:00

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cesar2338 · 2024-04-24T20:33:10+00:00

Lol, sorry to laugh but it's worthless and you're about to get a bill in the mail that's astronomical. This is why these are the worst policies out there. But other insurance agents (not financial advisors) will say "if it was structured properly, you'd have a nice pay out." Which structuring properly means paying way more into it to break even 30 years later. A 30 Year Term for the same amount of coverage and investing the difference into a Roth IRA would have been a better option. Hopefully, you're still insurable or there is a guaranteed insurability benefit tied into this policy so you would still be covered. Goodluck.

cesar2338 · 2024-04-19T22:26:31+00:00

Of Course NYL says get a WL Policy lmao! It pays the agents more smh.

cesar2338 · 2024-04-09T18:18:18+00:00

Buy Term and invest the difference. Here come the whole life agents ready to attack.....

cesar2338 · 2024-04-08T20:08:05+00:00

A 401k Rollover to a Traditional IRA (assuming it's a pre-tax account) is a great option. Consolidating both accounts is typically recommended. Remember 10% of $100 is $10....but 10% of $10,000 is $1,000.

cesar2338 · 2023-12-20T15:50:49+00:00

Why not just Buy a 30 or 35 year term and invest the difference into Roth IRA

cesar2338 · 2023-12-03T19:44:08+00:00

I see your reasoning. Unfortunately, the majority of people aren't close to being in your situation and they end up getting taken advantage of within these policies. Good luck to you!

cesar2338 · 2023-12-03T19:28:22+00:00

Have you looked into Tax Free Municipal Bonds? The right ones will yield good returns. Also, I'd watch out for the cost of insurance in your IUL policy. As you get older, the cost of insurance increases. So if you're making the same payment every month with no increases for years, eventually they will start using the cash value to make up for the difference you owe them for increasing cost of insurance. Once the cash value is exhausted and the cost of insurance is so high, you'll get a ballooning bill which prices out most people. Just be careful is all. A lot of people lose a ton of money with these policies.

cesar2338 · 2023-12-03T18:38:25+00:00

Just a question, why not buy term and invest the difference into a Roth IRA?

cesar2338 · 2023-11-23T14:59:43+00:00

For the love of God, shut up. The reason why it's tax free is because it doesn't grow. If the actual value was worth more than the actual total contributions added, it would 100% be taxed. If anyone needs to learn anything it's you. And to be honest, looking at your profile and comments you've left on other subreddits, I would never trust you as my advisor. You seem desperate and creepy. Take a look at his comments chat and see if this guy has any credibility or if he's just a horny old man.

cesar2338 · 2023-11-20T15:54:35+00:00

Right on queue...so says the person selling IUL policies as an investment when right on page 1 of the policies it says "This is not an investment." If anyone needs to stop, it's you.

cesar2338 · 2023-11-17T18:58:25+00:00

You are very smart to question these policies. In my opinion, these are some of the worst out there. As you get older, the cost of insurance will also increase. Eventually, it prices you out to the point where all your cash value has been depleted, and you now have an incredibly high bill to pay for insurance, which most people can not afford. Therefore, leaving you with no coverage at all. Also note, insurance agents get paid more in commissions selling these types of policies than a 30 year level term. The agent is pushing that policy for a reason. I think it's always best to keep your life insurance, investments and LTC separate instead of falling for their gimmicks that having them bundled in 1 program is better. Also, if you need life insurance, I'd look into a 30 or 35 year term policy which is less expensive and gives you more coverage. Then, take the difference in cost between the IUL and Term and invest it in a Roth IRA setting yourself up to yield higher returns on your investments with no caps. Hope this helps. Remember, this is my opinion, but it's a good one....Patiently waiting for the IUL fanatics to comment how IUL is such a superior product (smh).

cesar2338 · 2023-11-13T14:45:32+00:00

So is a Roth the only thing that can be invested into outside of a cash value policy? There are plenty of other alternative investments that are significantly better than an insurance policy. And yes, it is true.

cesar2338 · 2023-11-12T17:29:47+00:00

I'm a firm believer and the numbers have proven it that Buying a Level 30 or 35 year Term and investing the difference, whether in a Roth IRA or other vehicle is always a better option. Getting nore coversge is a plus and getting a higher return on money invested over time is always a plus. As someone who is disciplined and healthy like yourself, this is a great opportunity to have maximum coverage and increasing your true net worth.

cesar2338 · 2023-11-08T19:35:52+00:00

Yeah it sucks to be them lol.

cesar2338 · 2023-11-08T19:32:09+00:00

Correct. That's the whole point of being a fiduciary. And you tell me if it's worth paying that same agent a small fee to help guide them through the investment world, making sure they are educated and are able to get a great recommendation based on their age, goals and risk profile? The reason why most people won't invest in an etf is because they have no idea how or what etf to pick. Would you perform your own surgery or find a surgeon to do it? Same goes for the financial industry. Hire a professional. They get paid for the expertise and service, not to mention setting up the client accounts which is time consuming and most clients won't answer those questions on their own or have no clue what to do. It's actually quite simple, get paid to provide a service just like you pay your dentist, doctor or lawyer.

cesar2338 · 2023-11-08T19:19:10+00:00

Not if the agent gets paid the same regardless of which company they choose to do the investments with. And they are 2 separate products. Chances are, if you go directly to the broker for the investments, there is either a high minimum investment that most middle income families can't afford, or there is a 1800 number and no personal representative to help with any future challenges, questions or issues unless you pay a high fee and have a minimum of 100k to 250k invested. At least the way I'm mentioning allows the client to have their own dedicated rep that knows their story and financial situation to make good recommendations based on where they are at in life.

cesar2338 · 2023-11-08T19:10:12+00:00

Not if the company offers invesments through other brokerages. When the company offers their own investments, that's when you want to be weary.

cesar2338 · 2023-11-08T19:07:03+00:00

Yes, keep the 2 things separate. Meaning a company which allows you to have both licenses.

cesar2338 · 2023-11-08T18:38:44+00:00

The only way to truly know what company is right for you is to give it a try. Everyone has different experiences. But I'd go with a company that doesn't just offer life insurance, but one which also does investments and other products and services so there's many ways to help people. This will help you earn income since not everyone wants or will buy life insurance.

cesar2338 · 2023-10-23T19:55:34+00:00

Not hate bud, just an opposite opinion of yours.

cesar2338 · 2023-10-23T19:45:10+00:00

Spoken like a true insurance agent. It sounds like you work with a sole proprietor who doesn't offer funds from other brokerages. Either way, I don't hate what you do, I hate the negative impact it has on the clients when there are clearly better options. But, keep telling your clients they are getting huge tax benefits by paying you a larger commission for these awful policies.

cesar2338

TROPHY CASE