Subject: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Deceptive Practices?

Comments:
: : : Logic, you posted: : : "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.">>>>> LOGIC. : Since you posted a person should a person retired shouldn't have any insurance, I corrected by posting "WHAT ABOUT ESTATE TAXES AND WEALTH REPLACEMENT"? : Are you now saying that you were mistaken and some retired people could have a need for insurance ? : : : : : : I have been selling VUL'S since there were VUL'S. Never had one crash. : : 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! : First off, Kid, when you buy a VUL to generate a cash flow for retirement, you don't care about the death benefit. Second, You withdraw up to your cost basis, ask you prof. what that means, then take WASH loans. That means the company credits your account with the same amount of interest that they are charging you. : The loans are paid back at death out of the death proceeds. There will always be more death benefit than loans. : So, you pay for the VUL as an investment, you receive tax-deferred build up of the sub-accounts. You take a cash flow tax=free. You still death benefits after the loans are paid off for you bene. : You sound like some Kid still in school!

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