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In Reply to: Re: Re: Re: Re: Re: Re: Re: Deceptive Practices? posted by jaxx on March 13, 2004 at 02:47:29:
: : Lucky for you. : You say no one retired needs life ins. : What about permanent ins. to fund an ILIT trust for estate purposes? Wealth replacement? You said "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?" I pointed out that that was not a wise thing to do financially. I never said that there is never a need for someone to have perminant insurance for estate purposes or wealth replacement. You made that up... and in doing so, you never addressed my response to your question. : You are in insurance kindergarten! Wow jaxx, do you feel better about youself now? : Having insurance in a vul makes the taxation of the withdrawls tax-free as long as the policy doesn't lapse. Refer down. : What other investment grows tax-deferred and the provides a tax-free cash flow? There is no "cash flow" from a VUL because all this supposed "cash" is really money borrowed against the cash value of the policy, not real "cash"; that's why the IRS doesn't tax it. Additionally, that borrowed money needs to be paid back into the policy at a 6%-8% (or whatever it is for that policy) interest rate or the death benefit is decreased by the amount borrowed. That's not an investment, that's a loan!
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