Posted on: 04-11-09 20:50:00
Quote:
In universal life though they say you are free only after 14 to 20 years of payment, I feel break even is at 33.
Your openion please
Not unless
1) Your investments are performing as shown on the illustration by advisor.
2) You overfund your policy
3) You pay premiums as shown on the illustration for 20 pay UL.
In UL etc there is always an estimated return but no guarantees and there is a very high "service fee" to managing account /cashing out etc. Also paying $1800 for 150K is very expensive.
I had a quote to pay $450 for 1M US for 35 Non -smoker ...
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We will find a way or we will make one
I have a slightly different view about insurance. while I agree that you don' need insurance once you are done with most of the obligations. I don't see why I should not treat as investment as well, as long as I get value for money I feel I am ok with that. Instead of keeping the money in fd I think I can get more for my $$. As I said earlier it takes around 30 years to reach that goal with 5%. As a beneficiary of inheritance I am fine with passing that money to Gen next.Atleast I don't have to feel guilty...
Term insurance is cheap and good but only problem is once the term is done your premium is all gone. I have considered few variables like family history, My immediate family members have lived pass 75, so I am making an positive assumption !!!!, at the same time just being cautious.
The rate of return of 5% i feel is quite conservative considering the time the money will be in the market. Initially for 10-12 years I will chose balanced/growth mutual funds thereafter I will switch to fixed income
My main concern was am I missing something, with this kind of policy?. Will I be asked to pay more than 20 payments....routinely...Can I reallocate after buying a policy.. post financial crisis It's hard to believe the western system... all exotic products....but no delivery.......... I wanted to have a second openion on this.
What I see is insurance is relatively cheap here compared to India or Middle East.
Hi rsbagwell
Isn't this UL
Quote \"If you want to pay it off in 20 Years the premiums is only 1568/annum for 20 years \"
.
Thanks
Quote:
Originally posted by Val
Hi rsbagwell
Isn't this UL
Quote \"If you want to pay it off in 20 Years the premiums is only 1568/annum for 20 years \"
.
Thanks
No it is not UL. This is T100. That's why I said, understand UL before you take it.
There is a big difference between UL and Term 100. You can see this is costing $ 20/month less than UL and will serve your purpose of passing on money to benefciary . In UL this $ 20 goes towards something you may not be even interested (managing investments etc).
