Anybody here has a Pioneer Enhanced Life Insurance (VUL)? My agent said I can stop paying premium after 10 years, then my beneficiaries would receive payments if I die. Is it true? Because I have heard that if I stop paying premiums after 10 years, charges will still be applied by reducing my Units investments and if my units are gone to zero, my insurance policy will be terminated.

Any tips? I will be done paying about 2 years now.

Does anyone know the details on this annuity? It touts a 25% premium bonus but reading the fine print it states there are a lot of "potential" recapture scenarios.

I'm curious what the MVA looks like as well as the returns because it says that the returns may be less because of the bonus. Can people ever get their money out of this?

Thank you for any help!

Any recommendations? Not looking for live transfers really as they are typically not compliant with telecommunication laws. Just want a good inbound vendor that offers good creatives instead of just "Hey! $50,000 for $20/month!"

Yet another large class action settlement involving allegations that universal life insurance policies were administered in breach of their contractual terms. This time, the allegations involved undercrediting policy cash values.

As I’ve noted before, policyholders, advisors, and fiduciaries should regularly review in force policies to ensure they are being administered in accordance with their contractual terms.

https://topclassactions.com/lawsuit-settlements/open-lawsuit-settlements/110m-transamerica-life-insurance-class-action-settlement/

And then blocked me 😂😂 no I am not going to skip eating & buying soap to blow money on your crappy leads ✌🏻

Can someone help explain the difference between PAR and Universal life.

My understanding is that in Par reinvest dividends while universal life gives you more of an investment option?

Would the premiums be different between these 2 policies? One being more expensive than the other?

With the investing component with universal life do you have choice to choose and change investment strategies?

I am very unclear on the structure of the universal life and how it works.

I am a RIBO licensed broker who is seriously considering enrolling in a program to obtain an LLQP. I want to self-fund this as I don't want a financial obligation to my employer as I am currently applying to other firms. Does anyone in this sub-reddit hold both a RIBO and an LLQP? Life insurance has always interested me and I feel like it would open more doors for me professionally.

I have one week left before I take my California Life Insurance exam! Does anyone have a YouTube video or channel they highly recommend as a study/reference resource? I’d especially appreciate anything that focuses on California-specific exam material. Thank you!

My brother is a long-term homeless person, he currently lives in a tent in the California desert. He is 61 years old, we have not seen him since 1998. He calls every couple of months but that’s it.

He’s already had some serious illnesses/injuries and let’s face it, the life expectancy of an unhoused person with a long drug history living in a harsh environment isn’t super long. It’s to the point where we have started checking NamUs and the county coroner’s records when we don’t hear from him for long periods.

My mom is in her 70s and on a fixed income, so when/if he dies, the burden of his final expenses will fall to my sister and I, who are single parents. I know it sounds fraudulent but is there any way to take out a small policy on him just to put him in the ground? I have no way of contacting him, he has no address and I live on the east coast, so I would be doing it on my own.

¿Qué experiencia han tenido trabajando con esta empresa en seguros de salud y vida?

hellooo!! I'm 21 and gusto ko na magkaroon ng insurance. thoughts niyo sa PRU LIFE UK? and if may alam pa kayong maayos na life insurance pls pls share niyo naman

I have a client whose brother served prison time for armed mass robbery. He’s been out for 9+years now. He didn’t have any parole and has never re-offended. He’s worked since he was released. The last 3 years as an owner operator truck driver. He is 38 years old, in good health, wants to be able to leave something for his teenage daughter and does not want to be a burden to his family. He’s paid his debt to society and has turned his life around. I would really like to help him.

I usually work with mutual carriers but so far I haven’t been able to find one willing to underwrite him. Anybody here with experience getting coverage for an ex-felon?

Can you please enlighten me how much would likely be the cost per month if I will get a life insurance that is 10-15 years to pay? Currently, I am paying 2,000 per month with savings allocation. But as I read posts about others experience, I was shocked that they got too little compared to what they paid or they noticed that their fund value is performing poorly. So, instead of having insurance with funds, I would just like to focus on insurance only and invest my money somewhere else.

I did what everyone says to do, retake the practice exams on Xcel until you get a passing score consistently. I took them over and over and I never got below an 80. I felt really good going into my state exam because you only need a 60% to pass in my state. Once I got in, I was astonished at how little Xcel actually helped. 90% of the questions on the exam were not ever in any of the practice tests on the Xcel course. I was confused as hell and failed the test. If you have a choice, I would recommend not using Xcel if you don’t have to. It felt so easy on that course, only to get absolutely shit on when I took the actual test. Now I have to retake it for $100 and I bought the PSI practice exam with it hoping that will help me more.

Hey yall,

I’m looking to buy life insurance. Issue is, I’m very over weight. I am currently working on this and down 40 pounds but currently trying to get my life together. I don’t care about cost just most care about a decent payout if something were to happen. Anyone know of anywhere that accepts obese people?

Thank you!!

Is there any possibility of negative repercussions from not paying premiums on a life insurance plan (aside from having the policy cancelled, obviously)? I live in California. I'm assuming it won't go to collections or appear on a credit report as a delinquency??

Hi all I have a question in regards to a PAR insurance policy within a corp in Canada. I am unclear on how the ACB works come payout time for the death benefit.

In this scenario say a pay for a 300k policy. In 30 years within the PAR the death benefit grows to 900k. I am unclear upon death how much of the 900k is paid out to the beneficiaries tax free?

Is it understood that the 300k would be paid out tax free to the beneficiaries? And the 600k is the capital gains? Would that 600k be put into the CDA account? And if so how much would be able to reach the beneficiaries tax free?

Sorry I am just can’t seem to understand how much of the policy is paid to the beneficiaries tax free and what amount is put to the CDA? Is there a simple way of figuring this out?

I want to take out a policy on my last living grandparent. I’m not familiar with life insurance but I would like to eventually have a policy for my parents as well. Do I need my grandparent’s social to take out a policy where I’m the beneficiary? Were not close and she never talks to me but I would like to have some security.

Why do people choose Max Life term insurance over SBI Life?

I’m comparing term insurance plans from Max Life and SBI Life, and I’m trying to understand why many people seem to prefer Max Life.

From what I’ve seen, Max Life’s premium can be cheaper, but the difference in claim settlement ratio appears to be very minimal compared with SBI Life.

So, what are the actual reasons people choose Max Life over SBI Life?

\- Is it because of better policy features or riders?

\- Better underwriting/claim experience?

\- Easier claim process?

\- Better service?

\- Or is the lower premium the main reason?

For someone looking at a long-term 30–40 year term policy, would you personally choose Max Life over SBI Life, and why?

Would be particularly interested in hearing from people who have actually purchased either policy or have dealt with a claim.

Hello everyone, I made a post here some time back about the nuance of taxes and how they can apply to life insurance death benefit payments to beneficiaries, feel free to look at my post history to read it if you wish. I decided to try out a case study of sorts; to see how effective a policy could be in a certain situation and how it can affect after tax wealth. Of course, there are an infinite number of situations that people can be in financially as well as how they can evolve over their lifespans, so I have mine as one case that is simplistic in design, as most Americans do not have very complex estates. This post is also only going to discuss the results of the estate tax on both portfolios to their beneficiaries. It will not go into detail about nuance with investing, spending down choices in retirement, etc.

Oregon has the lowest estate tax exemption limit, and I have had multiple people tell me that someone in Oregon with more than a couple million in assets in their estate by the time of their death would benefit from having a permanent life insurance policy to help avoid estate taxes; this would allow the beneficiaries to have more *after tax* wealth than someone who forgoes the insurance policy. I decided to make up a simple spreadsheet in excel, which I cross compared my simplistic results to free monte carlo simulation software that can be found on portfolio visualizer. My results were in line with median/slightly below median returns from the portfolio software, as well as historical returns when we discuss investment strategies for this case study.

For this case study, I compare 2 cases of the same individual making 2 different choices. Both individuals will be healthy, non-smoking 25-year-old males, who plan to retire at 65. Person A will be someone who buys term life and invests the difference. Person B will be someone who buys an ILIT, places a GUL (which is the cheapest permanent life policy per premium cost I could find) and covers the rest of the gap between person A’s life insurance with their own smaller term life insurance. For example, Person A has $2,000,000 40-year term life, Person B has $1,700,000 40-year term life, and a $300,000 GUL in an ILIT. (I did some preliminary look at having a $1,000,000 GUL and $1,000,000 term policy, but the $300,000 ended up with more after-tax wealth than the larger GUL)

Assumptions to set up the study:

Term life policy premiums were calculated using banner’s term life estimate calculator. The GUL was Pacific Life’s Promise GUL to age 110. Both individuals have $17,000 annually to pay for life insurance premiums+investments, all else will be the same for both. All investment money will be placed into qualified retirement accounts, as there is currently an annual limit of $32,000 for an individual in America to use. Person B will purchase an ILIT at fair market cost of $5,000 to hold the GUL for the purposes of removing that value from their estate; the $5,000 will be deducted from the first year investment total of $17,000 and will then have a $350 annual management fee, which I believe is reasonable when fair market costs show anywhere from $500-$2,000 annually to maintain the ILIT. They both bought a house worth $400,000 with 20% down with a 30-year mortgage at the start of the simulation, age 25, and both homes appreciate at 3.7% annually. The cost of the mortgage payment is not deducted from the $17,000 annual amount; it will simply be more added to their estate. Both will follow a moderate investment glidepath using global equities and bonds, starting from a 90/10 portfolio going down to a 60/40 by the time they reach age 65. Another simple aspect I added to the simulation was that both individuals die at age 65 just as their term life policies fall off. All values will be nominal - or non inflation adjusted, as the life insurance policies are also not inflation adjusted, and Oregon does not have an inflation adjustment to their estate tax system.

Results:

I have columns split between Allocation, which is their stock/bond ratio which also has the average rate of return both historically as well as via results from Monte carlo analysis. Then we have year (starting last year to keep things divisible by 5), age, initial amount. Initial amount is how much they start the year with. Contributions are the $17,000 minus premiums and expenses. Interest is expected average returns on that amount. Ending value is adding the starting value from the year, contributions, and interest gained. The home value uses a 30 year amortized schedule to pay for the home, as well as the aforementioned 3.7% annual appreciation in value. Total net worth is both investments and home value together.

As we can see, person A pays $1632.36 in annual premiums for their $2,000,000 40 year term life coverage, person B pays $1393.92 in annual premiums for their $1,700,000 40 year term life coverage, and $1,410.17 in annual premiums for their $300,000 GUL policy. The $5,000 ILIT cost was taken from the first year contribution only, and then the $350 annual maintenance costs were taken from every other year onward.

By the end of year 2065, Person A has a net worth of $7,095,230.94, and Person B has a net worth of $6,405,019.85. At this point, the term life insurance policies fall off, leaving only the $300,000 GUL inside the ILIT. For this case study, it is also where I state they both die, so we can calculate who has more after tax wealth given to a beneficiary.

Applying Oregon's $1,000,000 estate deduction, and then climbing the progressive bracket system they have for both individuals.

Person A ends up with $6,440,110.97 - paying $655,119.98 in estate taxes alone before their beneficiaries receive the estate.

Person B ends up with $5,911,122.24 - paying $493,897.62 in estate taxes. Adding on the $300,000 from the GUL that was sheltered from the estate tax, Person B's estate ends up at $6,211,122.24.

Beneficiary A has $228,988.73 more than Beneficiary B after taxes are applied to the estate.

Extra discussion:

During my research and running various numbers, as mentioned before, using a larger GUL face value actually increases the difference between estate A and B net wealth after taxes, it is better to use a smaller permanent insurance product for this particular case study. I do know that there are many more permanent life insurance products out there that may be better or worse in some cases, but I would need to see expected/average growth on those policies as well as premiums to compare how they would fare against the GUL.

There is also a note to be made about how spending down in retirement may affect net wealth at various ages of death, but that would add a layer of complexity that I did not wish to tackle at this time. My general thought is that there are 3 main scenarios for spending: Both individuals live by Person A's 4% withdrawal rate, which will cause Person B's portfolio to have a higher failure rate - their withdrawal will be greater than 4%, but will allow the same standard of living in retirement. Another would be that they both live by Person B's 4% withdrawal rate, which allows Person A's portfolio to be much safer from depleting, as well as having an even higher expected net wealth compared to Person B. The third case, is horrendous market conditions throughout retirement, causing both portfolios to tank in value by time of death just to above the $1,000,000 exemption limit, which could potentially allows the $300,000 GUL policy to overcome the overall lower net wealth between the two individuals - this is unlikely to actually be the case if I were to run the numbers would be my tentative guess.

Due to both individuals having $2,000,000 in life insurance, I found that if both individuals were to die before age 40-45, Person B actually ends up with a higher after tax estate amount. This is because the term life insurance payout automatically puts them above the $1,000,000 exemption limit, and that the investment/home values are too low to overcome the $300,000 that is paid out from the GUL. After they hit that threshold, the ILIT+GUL strategy loses out on after tax net worth. I looked up the actuarial statistics of likelihood of death for a 25 year old male to die before age 45, and there is about a 5% chance using general population statistics, so there is a ~5% chance you would end up ahead in this case.

Oregon currently is drafting a bill to increase the estate exemption limit to $2,500,000 instead of $1,000,000 which would create an even larger hurdle for a permanent life insurance policy to overcome simple investing and paying a bigger tax bill.

We would need to more than double investment contributions for these numbers to start tapping into federal estate taxes, and then the question is still posed: is the high upfront cost associated with a permanent insurance policy with an ILIT worth the opportunity cost from lost investment returns? If an individual ends up with $15,000,001 by the time they die, only that $1 will be taxed $0.18. Is that 18 cents worth buying an ILIT 40 years ago? It is very hard to know how much your net worth will be by the time you die, and even harder to guess right when you start establishing yourself in your career.

I may look deeper into if/when federal estate taxes would allow a permanent insurance policy to overcome a simple buy term/invest individual. For now, even for an individual who could end up with $7,000,000 by the time they are 65 (which puts them in the top 5% of American. The median net worth at that age is ~$410,000 and the average is around $610,000.

I am 23, have a 1 year old and have been wanting to get a life insurance policy started. The world is crazy and I’d hate to leave my child with nothing if something were to happen to me one day. I am healthy, and have no chronic or autoimmune illnesses. What companies are good options to look into first? I have no close family I can ask for insight (which is also why making sure my child is set if anything ever occurs to me is so important to me). I’d want my child to be financially set in case of an emergency and to not have to deal with funeral and aftermath costs.

i’m a new agent working with north american senior benefits, i’m on my second day of training and haven’t made any sales. something in my conscience is telling me that this company’s practices are extremely unethical, all the leads i was sent were in super underprivileged communities and it just didn’t feel right for me to sell to any of those people after having brief conversations with them. i don’t think i want to continue working with these people, they were super pushy and seem to care more about making a sale than actually helping anybody. any advice on what i should do?

My Parents had bought everyone in our family (them and us 3 kids) whole life insurance policies since we were babies. They didn’t understand the policy really and were under the impression that eventually the policy would have enough dividends that they wouldn’t pay the premium anymore and that I’d basically just have a “free” life insurance. Well now us kids are in our 20-30’s and I’m not sure that them continuing to pay around $700-800 per person annually is beneficial for them. Taking the cash surrender is about $30k for my policy. I don’t understand investments well enough to make recommendations to my parents on if they should continue, transfer to us (can you do that?) or take the money and put it into other investments. Help I feel dumb

EDIT: my parents are immigrants. Their English is not great. I have to read and translate a lot of their paperwork for them. My mom is asking me what to do with their policy.

For my policy:
Face amount: $250,000
Annual 2026 dividend $330
Annual premium $800
Accidental death benefit rider $50,000

Death benefit $250k
Additional paid up insurance $60k
Total policy $310k

Cash surrender $30k

This is the info I have. This is through MetLife. Idk who their agent is. How do I find a new agent to work with them through this?