Subject: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Citigroup downgrade

Comments:
: : Bob, : : first of all, why would a 55 year old man want to buy term???? : : Second, I know policy loans are not taxable, I never said they were. I said it is cheaper to take a policy loan on your UL than take a taxable distribution on a retirement account. : : For some real numbers: : : I just did a proposal for a 65 yr old non-smoking male in good health (not 55, so the numbers for a 55 yr old would be much better). He took 86k (100k would leverage more), and put it in an immediate fixed annuity that paid out approx 6k a year to fund the UL. The reason we use the fixed annuity is to lighten the tax burden that would hit the client if we did a single premium UL. The guaranteed death benefit till age 102 from Sun Life of Canada was over 250k. This money is guaranteed to his two kids wether he dies in two weeks or at age 102. The client has social security, and a pension so he doesnt need money to live, and wanted NO market exposure. This way he knows for a fact what his kids will get, and can access the money in an emergency at a much lower expense than with a distribution : : How much would a 250k term policy cost for a 55 yr old till age 102???? : : And what vehicle would you put the remaining money in that had NO market exposure? : Eric, : Guarenteed prem to age 102 I sell that one even if it was term. Hope he doesn't take an interest only loan other wise he will have to use his pension to pay for it! : Bob : PS send me a copy of that guarenteed prem page (no names) : : : : With a UL, he could triple his estate to his heirs tax free. No exposure to market. He can take out policy loans and only pay the interest, which would be lower than the penalty and taxes. : : : He could buy term and invest in a matress and have more money than your typical UL. No such thing as a taxable loan. All loans from all companies come tax free. I wonder if you would earmark his life savings $100,000 rollover into your UL. maybe you could post some actual #s instaed of thoery? : : : Bob : : : Sorry I didn't mean to imply that you had called it a tax free loan. The fact is most of all this chatter on the I-net is baloney. Come up with some actual real case #s or even some legitamate articals and then we can debate. I keep searching all the financials ( wall st Jrnl,Forbes,Money or cons rpts). I'm close to 100% replacement with UL UVL WL. This is after all the agents call and harasments to the clients. They always try to say that it's our company and never focus on the products. Why do you suppose that is ? : : : Bob : : : : : : Bob, : : : : : : Now you know that is not true. Funds and term are ok for younger people who can handle market fluctuations. I use mostly UL which can leverage money now for their heirs tax free. You know as well as everyone else that real planners dont only use VUL. I do IRA mutual funds all day, and sell term when it is appropriate. Educated people know that term is ok in some situations, and not in others. Funds and term IS NOT always the right situation. What happens when you have a 55 year old man that has a $100,000 401k rollover? Do you give him term and funds?????? : : : : : : : : : : : : : Bob, : : : : : : : : I do use VUL's, and fixed annuities when they are appropriate....I also use mutual funds (our proprietary fund family was ranked #4 by Barrons), and term insurance when appropriate. Because you are a Primerica rep, and mostly concerned with recruiting, and not a real part of the financial planning community, how could you know what real planners do or dont do? : : : : : : : : : : : : : : : : : : : : : : : : : Bob, : : : : : : : : : : If you are a Primerica rep, then you must be living the dream and making a substantial passive income stream from your downline, right? Primerica is the way to financial freedom....and you dont have any money to buy some stock? hmmmm. : : : : : : : : : : Dear Bob, you CANT do what is best for your client because as a Primerica Rep, you are EXTREMELY limited in education, experience, and products. I am a fully licensed planner with the 10th largest bank in the country...I CAN do what is right for the client, and I DO what is right for the client. : : : : : : : : : : I am a fully licenced financial consultant for the 10th largest bank in the country, and I just recieved the 4th offering of stock options for our company stock since 1999. Why doesnt Citigroup do that for Primerica Reps? hmmm. : : : : : : : : : : Also, the only reason you think mutual funds are the best investment for your clients is because it is the ONLY investment you can offer. As far as term, it is appropriate for most clients, but the CHEAPEST term is the MOST appropriate. As far as Life Insurance, how can you do Estate Planning for elderly clients with term insurance? : : : : : : : : : : What is an older client needs income?...will you put them in term and mutual funds? And lastly, you should not ask what a family or client need....you should ask probing questions, in order to tell them what they need.....you are supposedly the financial "professional" here. : : : : : : : : : Sure, : : : : : : : : : All I hear is what a great job you people do, then sell cash value and fixed annuities and then call it estate planning. No one offers cheap term because they don't make the big commisions from it. I guess only the cheapest insurance company should be in business and we should all drive cheap Hyndia's. Maybe someday (not in the last 7 years) I will acually see someone get an IRA and a cheap term policy from one of you FINANCIAL PLANNERS! : : : : : : : : : BOB : : : : : : : : : : : : : : : : : : : : Bob; : : : : : : : : : : : : Is Citigroup your company? : : : : : : : : : : : : If you are a "Primerican", it is not. : : : : : : : : : : : : Primerica is a part of Citigroup, not the other way around. : : : : : : : : : : : : Primerica contributes less than 2% to Citigroups bottom line. Quite frankly, not including the recent scandals, I cant see how Primerica uses Citigroup for name-dropping. Citigroup is one of, if not the largest issuer of consumer debt in the world. And citigroup is also responsible for alot of cash value life policies out there too. How can primerica reconcile that kind of hypocracy. Doesnt Citigroup earn most of its money from things that Primerica says are wrong for people? : : : : : : : : : : : : Eric : : : : : : : : : : : : : : : : : : : : : : : : : : I noticed Citigroups shares lost 10% of their value today on earnings warnings due financial irregularities. Isn't this the same company that's the parent of Primerica? : : : : : : : : : : : : : how did your company do this year. How does it compare to citigroup? Where does your corp stand on the forbes world super fifty? : : : : : : : : : : : : : I would bet that Citi's 10% is more money than anything you'll ever see! : : : : : : : : : : : : : Bob : : : : : : : : : : : I wished I owned Citi group , even with all the unnamed scandals. I was trieng to see what the scandal was by the other person who announced that a companies stock was down 10% in these great bull market times. I personally take each situation and do the best for the client. My expierence has led me to believe that the best investment for the consumer is an IRA,401k in good mutual funds. Maybe some day someone can show me a life insurance policy that outperforms all other investments. As for life insurance i've found term is less expensive which allows people to get more coverage for thier families. I don't don't ask who the company is that sold them, I just ask what they need! : : : : : : : : : : : Bob : : : : : : : Because I see real planners plans that primarily consist of VUL. The only time planners sell funds and term is when they are dealing with educated people! : : : : : : : Bob : : : : : I would say that if all the 55 year old has is 100,000 he seriuosly needs to save more money. I would find out what his needs are for life insurance. I would assume that his kids have moved out and his house is mostly paid for. Buy ins for the ballance of the house and concetrate on gaining assetts. I think buying the most exspensive life ins is not appropiate. He should plan on having money for his retirement as more important than leaving money for his children tax free. All insurance gets more expensive as you get older (even vul)and the cost inside the policy eats up valuable investment opportunities. so pay the least for insurance and the most for investment possible. Just becase you buy vul doesn't mean you excape the increasing cost of term. The policy can lapse if the client doesn't keep up! : : : : : Bob

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