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In Reply to: Re: Re: Re: Re: Re: Deceptive Practices? posted by jaxx on March 06, 2004 at 04:26:03:
: Jaxx, you simply didn't answer my question, you just asked another (especially irrelevant) one back. Either present your case for VUL's or don't respond. Asking another question doesn't answer mine, and if you had some knowledge of debate practices, you would know that asking someone a question as an answer is a way to put the burden of proof on them without actually giving any relevant information yourself... and is usually used when the person responding with a question (you) doesn't have any proof or strong opposing argument. : Do you know what part that insurance plays in a VUL when the client wants to use the assets of a VUL to supplement his retirement income? A person that is retired shouldn't have insurance, unless the kids are still living at home, and the morgage still isn't paid... well, I guess unless he retired broke. Of course, if he had taken all the extra money paid toward his VUL and invested it separately, he wouldn't have retired broke to start with. : The executive life deal was about UL's with the company investing in junk bonds. : What does that have to do with VUL'S? They are both sold as "self enforcing polices" by telling the customer that after "x" amount of years, the cash value of the policy will pay the premiums, when in reality, the ability of the product to pay for itself is contingent on the performance of the market. If the market does poorly, the customer may find themselves forced to pay rediculous premiums to keep the policy in force, of course, if they can't afford those premiums, then they will lose their coverage. Executive managed to create it's own special "bear market" by investing in junk bonds, that cost it's customers all of their converage. However, if the market legitimately does poorly across the board (oh say... like after sept 11?). Your vul clients are going to be rudely awakened to the fact that they can't afford their vul anymore (so no more coverage). Did you ever tell you clients that?
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