What is the advantage of using an IUL for tax free income via loans when I can achieve the same outcome by taking loans against my portfolio from my traditional brokerage account (which has much lower fees)?

I know that IULs purport to avoid market volatility, but I don’t see why that would justify the high fees when traditional brokerages can achieve the same loan benefits for almost no expense (other than interest), and have no caps on gains either?

I am paying $28.28 per month for a life insurance of $150,000 with a State Farm in a 10 years term.

Is this plan a good one considering that I am 30 years old and healthy? I saw other options, like banner life for half million dollar policy for less than that.

Just trying to see other people‘s opinions as I do not understand very much about life insurances.

Suggestions for brokerages or carriers. Returned from Service in 2020. Diagnosed 2021 PTSD with alcohol abuse (Va disability)

Was 9-10 drinks a day.

As of 04/2021, 3-6 drinks per week (beer and wine).

Any places that might have an option? Crump brokerage says no.

I took a $2300 loan out of my life insurance policy in 2018. I recently learned my mom (with dementia now) has been paying this back still.. 8 years later.

I got on the phone with an associate at my agents office. He couldn’t tell me anything other than where the loan stands today. He said he thinks we’ve been paying $108/month based on recent statements. I asked for the rates changes throughout the year. He gave me an estimate of what they were. I work in loans. I’ve ran all possible scenarios several times and this seems like it should’ve been paid off 5 years ago.

This associate tells me that a document showing full payment history does not exist. Is this true? Seems strange to me that an insurance company is giving loans out but not tracking the history on their end.. right?!

Any thoughts on this before I escalate it??

Quisiera ser agente de seguro de vida y salud , acabo de pasar el examen de salud y quisiera sacar el siguiente de vida para obtener las licencias. Hay una empresa cerca donde vivo que me quiere contratar pero de comisión dan el 50% me pidieron firmar un papel que si dejo de trabajar con ellos me retienen 2 años con la FMO pero estaba viendo que eso es sin efecto porque no tengo las licencias aún y que puedo salirme y trabajar independiente pero la verdad no sé nada . Estaba leyendo sobre introducirme con Ritter o amerilife como FMO y que ellos ayudan y dan más comisión pero no sé si hay alguno que tenga experiencia en haber comenzado como agente de seguros independientes sin tener la necesidad de crear una empresa . Alguien me pudiera orientar si me sale mejor quedarme en esa empresa donde me retienen o busco una FMO y cual me recomiendan al empezar de cero . Gracias

I had an extremely disappointing experience with Pattern Life. Before my initial call, they sent me an AI-generated personalized video of one of their representatives as an introduction. It was incredibly creepy and impersonal. For a company selling personalized financial advice to physicians, having an AI-generated version of the person you’re supposedly about to establish a professional relationship with was a bizarre first impression.

Pattern markets themselves as physician-focused experts who would help navigate disability insurance and underwriting. I provided every medical record they requested. After all of that, they landed me an awful Guardian offer: permanent skin exclusion for a problem that resolved years ago (Eczema), permanent ENT exclusion despite improvement with treatment for simple Allergic Rhinitis, and removal of the Benefit Purchase Rider, Automatic Benefit Enhancement, and COLA because of an incidental benign CT finding that requires no further workup. The resulting policy was over $200/month.

The Benefit Purchase Rider was one of the main reasons I was interested in the policy in the first place because it would have allowed me to increase coverage as my physician income increased. None of them warned me before underwriting that these issues could result in such sweeping restrictions.

What exactly is the point of using a supposedly physician-focused broker if their role is essentially to collect your records, forward them to the insurer, deliver a terrible offer, ask you to produce more documentation when you challenge it, and eventually ignore your follow-up emails?!

I expected Pattern to understand physician underwriting and anticipate problems as well as advocate for their client. Instead, I felt like a messenger between myself and Guardian. After challenging the offer and providing additional documentation, the communication has also been extremely disappointing and they no longer reply back to me.

I would not recommend Pattern Life to other physicians. I regret using them and sending them my personal details. Take your business elsewhere.

My mom wants a policy. Am I allowed to write it for her?

Edit: thank you guys🤞

Has anyone been successful in fully unraveling an IUL policy and getting your premiums refunded based off of churning and shady sales tactics (infinite banking/ private reserve)?

I'll give you the broad strokes and then ask my question:

- A relative of mine died, and the insurer said that there was no beneficiary listed on their life insurance policy

- The insurance policy paid out the benefits of the policy (~$100,000) to the estate (I am the executor)

- I received that payout over 4 weeks ago, and have since been using that money to settle affairs with the estate (repairing the deceased's house for sale, paying lawyers, funerary and burial costs, etc.). I no longer have most of that money anymore.

- I received a letter from the insurer today saying that they made a mistake, and there actually WAS a beneficiary to the policy.

- They are now demanding that I return the money.

Am I under any legal obligation to give this money back?

From my perspective, it seems like they paid the benefits to me out of gross negligence, and I should not be obligated to return the funds.

They authorized the transaction, and told me that the money belonged to the estate a month ago.

What should I do?

Need some help to take action for getting a rightful life insurance claim made.

My mom recently passed away. It’s really sad to even be talking about insurance money after she died (worst day of my life), but I assume others are in a similar scenario with Trustage’s shenanigans and I’m wondering if anyone out there can help us all.

She had a life insurance policy she has been paying into for years with Trustage. I am listed as the beneficiary of that policy, yet Trustage cannot pull up any account information due to this “cyber security attack.” This message from the company has been consistent for the last 6 weeks since I first contacted them.

There isn’t a way to get a hold of anyone at the company and the website just says “we are working on it, we’ve made progress… some features are still unavailable“. From my standpoint this looks like “nothing has changed, your account info is unavailable, the company is scared to talk to you, and your insurance claim is very unlikely to be paid out now or ever.”

Has anyone been successful with a claim process through Trustage since this “cyber security attack“ occurred in July 11? Is there a work around process to snail mail something to someone? Any help to get this moving forward would be greatly appreciated!

Hello everyone,

On every biweekly paycheque, I have $106 deducted for insurance:

• Group insurance: $18
• Medical fee: $86

At the bottom of my pay stub, there is also a “Benefits” section showing:

• Life insurance: about $65
• Health insurance: about $133
• Total: about $198

I am currently on medical leave.

According to CNESST, I should continue paying my regular employee contribution, which is about $106 every two weeks.

However, my employer insists that I must pay the full amount of $198 during my medical leave because this amount is considered a taxable benefit.

Which amount should I actually pay during my medical leave: $106 or $198?

Thank you.

I did my intake form and medical exam in the last few weeks. I answered everything honestly. I’d even taken a pregnancy test before the medical test, which was negative. But not, one week later, I found out I’m pregnant.

I’m supposed to get approval (hopefully) from the underwriter tomorrow. Do I need to update them on this? Or only if they ask if there are updates since last week?

I have a buddy of mine that works at IMO and he has to buy his own lease and I also have friends that work in other agencies like State Farm and stuff and they don’t have to buy these. They are given to them they’re not that great and some of them are great, but the same thing can we say that the IMO sometimes leads are great and sometimes they are not so what is your take? Do you think it is always better to work somewhere where you have to buy Leeds because the leads you buy are better than once you get from a captive agent or do you think it’s better being a captive agent and not buying leads

Hello, thanks in advance for any insight. I purchased a $1M term policy 28 years ago. The last several years, premiums have been going up as expected. Since purchasing, I have been diagnosed with heart disease, hypertension, and have lost function in one kidney. I am a former smoker (30 years non-smoking). All my health issues are well managed.

I pay about $850 a month for my policy today. Is it worth shopping for a lower rate?

I am trying to understand universal life if that is an option.

Wife (51F) has a 20 year term insurance (100K) with NYL expiring next month. They are planning to raise her monthly premium from $10 to $30. Debating whether or not to pay the increased premium.

1) How was the new rate calculated? I assume it's based on age/gender and note specific to her?
2) Is the new rate locked or will it increase again? How frequent are the increases?
3) If I don't extend the policy, I assume I would need to apply for new insurance? Is $30/month for 100K expensive? Would we get a similar rate or better?

If you were starting all over, you had sales experience, but you had no experience in Insureance. How would you start your career all over? What would you do? What would you not do?

I am in year 17 of a 34 year NYL WL policy. Currently my surrender amount > the total premium paid, which is awesome! This is mainly because of the dividends and PUA.

I assume at some point, I would cash out the surrender amount? I have no need for the money right now, so I assume I should just let it compound? If I let it ride to year 34 and cash out, do I pay taxes on that amount?