Retirement strategies: Whole life vs. VUL
Posted in Financial Experts 10 months ago, 2 replies
submitted by Bret in Harrisonburg, VA
Bret - I am a Financial Planner and therefore you may not consider me unbiased. I could and would love to give you a lot of advice but there is a lot more information I would need to give you specific and accurate advice. I do not charge a fee and welcome you as a potential client to contact me via my web site - johndelaneyinsurance.com. I do not offer policies - per say as a solution but rather I am a financial strategist. If you work with me I promise you will understand my recommendation and the reasons they fit. john...
submitted by John DeLaney CLU in Louisville KY
@ May 24, 2009 - 09:59 PM
Reply
Hello Bret!I joined the Insurance/financial planning field after I became a user of the IBC, and this is how I understand the differences:
The VUL is a term life with an investment component policy and that means your life insurance cost will increase with age and your health will be a factor in renewals normally; and the investment component is tied to a market also normally, and that creates the element of uncertainty and risk.
The Whole Life, everything is set in writing and guaranteed and if you use it according to how the Infinite Banking Concept recommends it, you would have control of the returns your policy can provide on top of the guaranteed performance by the Insurance company. So it all depends on how you like it: Do you like unnecesary risk and uncertainty and somebody else having control of your money?
Please contact me at www.InfinteBanking.com and or www.Bankonyourcashvalue.com and I will be glad to answer any other questions you have.
The VUL is a term life with an investment component policy and that means your life insurance cost will increase with age and your health will be a factor in renewals normally; and the investment component is tied to a market also normally, and that creates the element of uncertainty and risk.
The Whole Life, everything is set in writing and guaranteed and if you use it according to how the Infinite Banking Concept recommends it, you would have control of the returns your policy can provide on top of the guaranteed performance by the Insurance company. So it all depends on how you like it: Do you like unnecesary risk and uncertainty and somebody else having control of your money?
Please contact me at www.InfinteBanking.com and or www.Bankonyourcashvalue.com and I will be glad to answer any other questions you have.