Subject: Re: Re: Re: Re: Re: Term or Permanent?

Comments:
: : Billy Bob, : : Ok, so you're not a Primerica agent. To use your own words are you threatening to put a boot up my butt because this is the internet and I am also faceless? Anyway, let's move on. : Yes, of course. At least I am honest about it :) Actually I would wait until you left, then bad mouth you and your company on these boards. Again, being honest. : : You made this statement: : : "OK then, are you saying term is right when you are young(er), then as you get old(er) a decreased amount of permanent is right? " : : The rightness of any of this is also dependent on what the client wants. The old adage of, "you can lead a horse to water, but you can't make him drink", comes into play. The right thing for the agent to do is to explain to the client how each plan works and what the long term and short term implications are. The agent then can make his/her recommendation based on the clients current situation and also take into account possible future scenarios. Then let the client decide which route they want to take. If you have done that, (assuming no deceptive or misleading statements were made), then you have done your job. : So then, basically the determination of what is "right" comes down to the client then, is that what you're saying? So, no one else can fault anyone for saying so and so agent didn't do what is right for the client (assuming the agent was honest). : : I have a prime example of when term is wrong. When you have an estate planning issue and the client is concerned about estate taxes being paid by the heirs. The type of policy sold for this is a second-to-die policy and these are NOT term policies and that is because the client is covered until age 120. There is no term policy that goes beyond age 100. Term is no good for this because past a certain age all term policies convert to ART and that is extremely expensive. That is because we are talking about policies that have a face amount of multiple millions that will be used to pay estate taxes. There is more detail involved in this argument but ask any financial planner and they will tell you that term is the wrong type of policy to use to pay estate taxes. : That's cool, but I was asking when term is right, not when it's wrong. : : By the way, why are you trying to disprove Primerica's theories on Term insurance being the right thing 100% of the time? : Partially because I want to know who to believe, so I can decide what type of insurance is best for me. Better I try to figure it out for myself, then let some (possibly dishonest) insurance agent tell me what is best. Even though I am taking advice from agents here :) Also partially because I can't think of any situation where term would be better then permanent. I keep hearing agents say those situations exist, and some even say that term is right for most people, but I just can't seem to get anyone to provide me a case where that is true. : Finally, I am also looking to see how people on the CV side of the fence react here. One of their : complaints about Primerica is they only offer term, which isn't right 100% of the time. So, I want to see if they say permanent is right 100% of the time. Trying to see if they are hypocrites in a way. Please don't accuse me of being a Primerica agent becasue of that either.

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