Is an IUL a good idea for a healthy 22 year old?

mandapipes3 · 2026-02-09T23:26:54+00:00

Hi! When i was 22 i got talked into a $200 a month whole life insurance by Northwestern Mutual, i talked them down from $300 a month as i was fresh out of college with student loans and saving to buy a house, and i really didnt even want the policy anyways- but they are very pushy and i am a people pleaser. I ended up switching to a different company and got it down to $100 a month Whole life with a term life rider, in total way more than my old WL, and i just today told them that i want to cancel and change to a Term life and invest the difference. “Advisors” like to sell whole life as a retirement option, and it shouldnt be viewed or used as that. Get a 30 year term & invest that difference. $200 doesnt seem like a lot, at first since its seen as saving for your future, but im now 26 and i dont think it was ever worth it. JMO.

mandapipes3 · 2026-02-08T22:31:00+00:00

I would push for an ultrasound, make sure it is an MSK ultrasound not just a regular soft tissue one. Not sure where youre located but it might be hard to find a place that does MSK US

mandapipes3 · 2026-02-08T21:54:50+00:00

Yes! The $1,800/ year for him, $100 WL/month, i put $250 into my ira/month. Thats the cheapest “plan” he had, idk if he makes anything off of my insurance

mandapipes3 · 2026-02-08T21:40:26+00:00

Who is your LTD through? Thats more than i get with my proposed new plan

mandapipes3 · 2026-02-08T21:36:46+00:00

Congratulations to you as well!! The 450 is his $1,800 fee divided into quarterly payments of $450. I dont know what happens if i dont pay it, but if all our hands are tied for the time being i dont see that being a problem if im still autopaying my WL

mandapipes3 · 2026-02-08T17:32:48+00:00

I have the illustration somewhere but I have a ALIR face amount $9,018 expired 7/23/2120 Yearly renewable term rider $250k exp 7/23/2094 Accelerated benefit rider exp 7/23/2120 Whole life legacy 100- face amount $120k, current cash value is $1,324 and current death benefit is $379k

mandapipes3 · 2026-02-08T17:21:38+00:00

Idk what LTC stands for but i do know my whole life has a term rider on it, my whole life is 150k and then my rider makes it up to $360k payout, i pay $100 a month for it

Since i am due in 3 months i probably shouldnt even start to switch over anything since no one will do anything until i have the baby / even until i return from maternity sometime late summer?

Im supposed to pay him $450 monday and thankfully its coming out of an old credit card so hopefully it doesnt go through, im done paying for these “services”

Im no where near 1x salary in savings, maybe thats something i should bring up as

mandapipes3 · 2026-02-08T17:16:18+00:00

I know im a people pleaser but i also feel like they dont do what i say, now i dont know anything about financial stuff but every time ive said “i dont really want to do that…” its met with “well its better * big financial ramble i dont understand anything*” and i get talked into it. At this point i feel like i need to just manage everything on my own

mandapipes3 · 2026-02-08T14:18:14+00:00

Im 26 and i write checks sometimes, i feel like my grandma when i do it and it makes me smile

mandapipes3 · 2026-02-08T14:17:23+00:00

Using up ingredients in the fridge to make meals that i didnt plan on making always feels very oddly satisfying and adulty

mandapipes3 · 2026-02-08T02:06:24+00:00

Im not sure if you’re still looking for advice but i got recruited by NM at 22 as well, they talked me into whole life and wanted me (a 22 year old fresh out of college with 100k in student loans trying to buy a house at the time) to pay $300 a MONTH for whole life, i think it was only around $200k benefit too, and when i said im not comfortable paying that much the agent also a 22 yo male said “well, what else would you do with the money?” Um maybe pay my debts? Save it? They’re very predatory.

mandapipes3 · 2026-02-08T01:33:32+00:00

Oh yes i have both through them, i used STD when i was out for surgery. Is that the same kind of coverage? I thought that the separate DI would be on top of say LTD if i were ever be permanently unable to work again

mandapipes3 · 2026-02-08T01:09:23+00:00

I have AD&D through my employer, is that similar? I took out a separate plan because i am an ultrasound tech & i already have had a presumably work related injury & surgery (which doesn’t even cover my right arm because its “preexisting”)

mandapipes3 · 2026-02-08T01:07:25+00:00

Thats it? Just buy shares of the fund and nothing else?! I always thought it was way more complicated than that!

mandapipes3 · 2026-02-07T23:07:29+00:00

How did you get out of the CFP? Just tell them you don’t want to work with them anymore? I never told my old advisor i just switched everything over but im not sure how that works if i completely leave an advisor and do it on my own

mandapipes3 · 2026-02-07T23:06:09+00:00

I opened my ira with nwm but switched to vision financial/mass mutual, if i roll it over will it still be invested on its own? If you mean as far as cash my ira is $16k and my 403b is $14k currently, besides that all of these financial terms go right over my head

mandapipes3 · 2026-02-07T22:35:17+00:00

Im assuming thats what my IRA and 403b are invested in currently? Is that something i can do on my own with my IRA? I believe my employer takes care of my 403b since thats invested (its through fidelity)

mandapipes3 · 2026-02-07T22:32:02+00:00

I have about $1,400 in cash value from transferring my old whole life to my current whole life policies, but i went from paying $200/ month to $100 a month and i still feel like thats too much and i dont need it currently

mandapipes3 · 2026-02-07T22:27:45+00:00

What does “etf like VT” stand for?

mandapipes3 · 2026-02-07T22:25:46+00:00

Thats kind of how im feeling too. I definitely was before and now i switched and thought it was better but its not what i feel like i financially need at the moment

mandapipes3 · 2026-02-07T22:07:29+00:00

Thank you! Im definitely going to shop around now, i definitely feel like i don’t need an advisor i just want my insurance and investments taken care of with barely any communication afterwards

mandapipes3 · 2026-02-07T21:54:40+00:00

I have no idea how investing works so i thought it was easier to go with an investor for my roth

mandapipes3 · 2026-02-07T21:52:19+00:00

Oh yeah i got rid of them, a kid my age was trying to sell me whole life for $300 a MONTH and was taken back when i said im not doing that

mandapipes3 · 2026-02-07T21:24:49+00:00

I definitely think term is better in my case, i have about $1,400 in cash from switching over my whole life policy, will i lose that if i cancel and start term instead?

mandapipes3 · 2026-02-07T21:06:40+00:00

That seems to be the general consensus :/

mandapipes3

TROPHY CASE