Hi Rose, Great Vid. Just a couple of things. 1. In an IUL policy, if you take a policy WITHDRAWAL from your Cash Value account, depending on the amount, that is a TAXABLE event. Therefore, to take advantage of life insurances' tax advantages pertaining to IRS rule 7702, ALWAYS take away from your Cash Value Account as a POLICY LOAN, not a withdrawal. 2. in an IUL, the money is NOT INVESTED directly into the STOCK MARKET. It is invested into INDEX OPTIONS that TRACK a market like the S&P 500, Hang Seng, Credit Suisse, etc.. VARIABLE LIFE Insurance products would be an insurance product that uses the separate account to INVEST DIRECTLY into the stock market. Hope this helps. 😁😁
I have my whole life with Guardian. And I get both term and WL. I have people depending on me, plus I want to build my wealth as well, so it was almost a no brainer for me to get them. I got mine when I was 25 and I honestly I wish I got mine sooner.
Type of permanent life insurance is very important. They are not created equally. We paid in average of $24000 on three policies each for an average of 20 years. We only received an am average of only $1100 each as an investment. Please listen to what was stated in this video. Everyone's situation will be different and always do your own research and interview multiple individuals in this field before making a decision.
I understand Ramsey’s point. He’s right that the vast majority of people need to stick with term and leave it at that. However, his audience is mostly low-income or forever middle-class, and that is not where I aspire to stay. Wealthy people heavily use permanent insurance for a reason.
@@itsrosehan Thank you for looking into that, Rose. I was in the market of getting a permanent life insurance and here is my thought: After calculating the growth rate of cash value (which I was not planning to use/withdraw/borrow and was not the reason I wanted a perm life policy), it was only around 2% which I am betting that I could get a better return if I invest. The rider part of the policy was the reason I was shopping for one (use death benefit for expensive long term care). Again, after using compound interest calculation, I could gain more (if I don’t die prematurely) than the amount of death benefit in the long run. So much pros and cons on what we chose and it is definitely not appropriate right after your video came live :) . Thank you!
Late bloomer here. I bought my policy after 40, so permanent insurance was way too expensive. I bought a term policy that was a third of the cost of permanent. My wife bought a permanent policy in her early 20s, so she's paying very little and getting so much more. Listen to Rose, kids. Jump on this ASAP!
This product has so many cons it's ridiculous. Very controversial whether young kids even need to buy that themselves... You can achieve much more by just maximizing your retirement accounts. And you can even borrow against them, so I don't really understand the appeal of life insurance at this point.
@@alexvig2369life insurance has been taken from its purpose unfortunately, it’s supposed to be for when you die but unfortunately many life agents sell to people as an Investment to get money , can’t blame them that’s were they get the money
ALWAYS term life insurance, never whole life AKA permanent life insurance. It is not a tax advantaged account and will end up costing you money (source: I am a tax CPA). Much better to invest inyour money in a Roth or Traditional IRA. Or if you're at the cap on those, it would be better to invest with a brokerage account. NEVER pay to use your own money with a permanent life policy. Term life, yes recommend 100%.
Good information, Rose. Here is a tip from my personal experience: Many people rely on the term insurance that they receive through their jobs. That's fine as long as you are employed. If you lose your job, you lose your insurance. At that point, if you have had health issues, you may find yourself to be uninsurable or the cost to be prohibitive. I recommend that you purchase life insurance (either whole life or term) OUTSIDE OF YOUR EMPLOYMENT SITUATION in your young healthy years.
Im life licensed and financial securities licensed. Permanent life insurance with a cash value is always a rip off-stay clear of those money pits. Term is the way to go. It works when you have proper investments set up. Can check out what Dave Ramsey and Suze Orman have to say about these things-they are for term and 100% against permanent/cash value.
Hi Rose, I was really enjoying your videos until I watched this one. The only life insurance people need is inexpensive term insurance. Permanent insurance is a financial scam perpetrated on people for decades. The only winner on permanent insurance is the insurance company and the person who sold to you as they collect huge commissions. Please do a full cash flow analysis comparing "Term Insurance/Invest the difference" versus a "Permanent life" policy. Remember, if you pass away during your Permanent policy your dependent will only receive your death proceeds and WILL NOT receive the monies you were setting aside as the cash value. Ask yourself, why wouldn't your dependents get the cash value plus the death penalty when you pass away? Just as you stated: "you have to pay into it a long time" Ask yourself, why? What is is the cost benefit? Also, rent versus own your home is a terrible analogy to use and is very misleading to the average person. Again, do a full cash flow analysis over 20 or 30 years and compare Term vs Permanent. The money you will save with Term insurance will do much better in a true investment. Also, your using Insurance Industry talking points over and over again and telling your viewers to trust any insurance agent is very concerning. Good luck to your viewers!
Exactly, this comment is spot on. I plan on doing this same analysis for term/invest the difference vs whole insurance (I’ll take a look at their market investment options to make it a fair fight) for myself. I generally do not like to mix insurance and investing anyway, but I need to do my own due diligence. Term insurance, however, is almost always the best for most people.
It really depends on what your needs and wants are. Some people actually want to have whole life insurance (permanent insurance for those trying to understand the lingo still) because of the features an benefits of it. In term insurance, you can't cash out but it will when you die so that beneficiary receives it. With whole life, yes you are paying for life however you can take money out at after a certain point which isn't long btw. You may want to have access to that cash... It sounds like for you Nick, that isn't the fit which is fine but let's be clear you vs other folks needs. Whole life wouldn't exist if it didn't serve a purpose to the customer's benefit and I'm saying that as someone who's going to help families out there with deciding their own policies for life insurance this month.
Agree completely. I think it's a bad idea to combine insurance and investing. It would be much more responsible to perform a cash flow analysis. I may do this for my viewers.
Yeah, its frustrating to see all the Whole Life praise in this video. Whole life is opening a savings account with the bank, the first three years the bank keeps all your deposits, then after those three years you get awful rates of return, you can't withdraw the money from the account without taking out a loan against it and paying the bank the interest, then when you die they keep all the money you spent years trying to grow. They front load the fees because they know most people won't be able to keep up with the huge monthly payments and when they cancel they get absolutely nothing from it since they haven't yet earned any cash value in the account.
Very informative and I definitely learned a lot. So getting life insurance as an investment vehicle is worthwhile only after the following considerations: 401k company match Max out Roth IRA Max out HSA Minimal to no debt Stable Income Reasonable nest egg It'll probably be a while before I meet all of those but it's something I'll keep in mind.
In my opinion you'll be better off with a term policy and investing the money in a taxable brokerage account. The fees, penalties, restrictions on whole life policies are crazy
i have a variable universal life - fees are high but the mutual funds investment with this life is a rate of return that is high -- it will help you grow higher rate of return if stock market is well or if crashed came back up-- then you can use this cash value for lifetime income - only companies that have living benefits can also have lifetime income
If you had put the same 12k p.a into a taxable Index fund instead of Universal index life insurance, you would have around 2.7 million instead of the projected 1 million.I would rather prefer a term insurance and invest the balance into a regular Index fund.
I am a life insurance agent and I will say a lot of what this video talks about is absolute garbage. Simply put, if you have a need for life insurance, get term life insurance. Don't ever get permanent life insurance, EVER. People that get permanent life insurance are what we call in the insurance industry "suckers". Permanent life insurance is very very very expensive and the idea of using it because of "tax advantages" is the stupidest thing ever. If you want to make an insurance company rich, get permanent life insurance.
Thanks for the detailed video. Can you do a comparison between you investing in a permanent insurance policy vs. investing in S&P 500 Index fund on your own? I ran quick numbers and if you invested $12,000 per year for 34 years (from age 31 to 65), you would have $2.8M with a 9% yearly return. This clearly beats the $1M return you are estimated to get even after having to pay taxes. Am I missing something here?
Hey Farham! It’s true that your money would grow more in an S&P500 index fund (without factoring in taxes obviously). Something I didn’t get into in this video is that some policies (or at least mine does) place a cap/floor on your gains/losses between 0-10%. They do this with S&P500 index options. So it’s a more conservative, less volatile investment than a pure S&P500 fund... hence lower returns. That being said, the numbers I gave were pretty conservative projections, and what you’d actually get could be a lot higher too (depending on market performance).
S&P 500 (outside Roth) doesn’t offer tax free income in retirement, doesn’t have a death benefit and doesn’t come with ACB for long term care. So it’s apples and oranges.
Honestly, I still see almost no value to it. Unless you're extremely lazy and wouldn't want to manage your money even if your life depends on it. You can borrow and save on your own without needing insurance companies. In mutual funds and ETFs you also don't pay taxes on their dividends and growth until you sell. You could just borrow against your taxed portfolio and possibly get a better result for your money.
I'd rather spend 500 a year on a term policy, max out my Roth and use what's left of that 12 thousand to trade a self directed account instead. You'll have the same coverage for the term of the policy (while locking down your premium over two decades, savings on its own), same tax free treatment for half of that capital, and opportunities for outperformance through your own account. Just frankly don't see any benefits otherwise. Options (insurance) tend to expire worthless, doesn't mean they're not valuable tools and a very capital efficient way to buy peace of mind.
What's the prices of each of these Life Insurances? Why are you worried about the policy growing through investment the life insurance is for the benefincy not so much for the insurer. If you decide to pick a term life insurance policy after 20 years you can renew your policy for another 20 years. Whole life allows you to invest but they are looking out for the shareholders not for the insurer! If you have Millions of dollars there is no need for Life Insurance all you need is a Will and living revocable Trust. Life insurance is for people who have little money, so you have to be careful in choosing a life insurance that you really don't need.
I have sold insurance and managed insurance sales teams. I only have term cover and will never buy any form of permanent insurance. I recommend that you do the math VERY carefully before committing to permanent cover.
3 Reasons why you shouldn’t do permanent insurance that includes cash value: -There are 0$ in your cash value for at least 4 years before your money start accumulating -When you finally do start accumulating money in your cash value and you want to withdraw, you have to pay your money back WITH interest. Wow - Your beneficiaries can not get both the death benefit AND the cash value. So you wasted your money on a cash value… nobody but you can touch, that sucks.
Seems like bad advice actually (even for herself). Do your own research, but it’s not tax free. For whole life: You take a loan on your own money and pay the insurance company interest. Seems like a scam to me wonder if she is being sponsored:/
Lol actually yeah it is sponsored. Don’t assume any insurance seller is giving you good advice. Not sure why she she is assuming they are not biased. Do your own research
Very informative video! I am new to this topic, so I am failing to see the benefits of permanent life insurance. Maybe someone can clarify. How I understand it: The cash value that is accumulated in the policy is only available only to you, and it disappears when you pass away. If you pull out the cash value, you surrender your policy, which surrenders the life insurance amount you signed up for. If you are investing in life insurance just to pull it out at a later age, you will not have to pay tax on the money now, but you will need to pay tax on the earnings. So in the example, if you had put in $400k, and the policy was worth $1M, you would have to pay tax on the difference. In addition, there are fees/commissions associated with these policies, and the growth rate is likely lower than if you invested your money elsewhere.
I didn't know it was tax free, thank you! I'm saving for a house right now so I'll probably get this soon after and reach out to your agent in the future. So glad I know this info now. If or when I have kids I will definitely get them life insurance as soon as they're born. Things I wish were taught in school lol Thanks sis, love ya ❤️😃
You can use your cash value within your life insurance policy to put as downpayment for a home! At the same time you don’t have to pay it back or you can at any time. When you borrow from your cash values savings to put for a downpayment on a home, your money never leaves. The great about this is that it keeps growing and compounding earning interest. What they do is that the insurance company will give your their money and use your cash value as collateral. Here’s two ways to pay it back. 1) You can cash out refinance your home and put the downpayment amount back into the cash value policy when you’re done paying it off. Or 2) when you prematurely pass away it will automated deduct from the death benefit face amount. It is called unstructured loans because your cash value is used as collateral. 401k and IRA cannot do this. If any loan taken from a 401k or IRA is not paid back within 5 years it will be considered early withdrawal penalty of 10% and ordinary income taxes. You can also structure this for your child’s college education within a life insurance policy and it will not count on their financial aid. If you’d like to learn more my contact is tongyang@ffsmail.com Facebook @ Tong Yang FFS Instagram @ tongyanginvest
Actuary and licensed life and health insurance broker here. DO NOT talk to an insurance broker to figure out whether you need an insurance, the same way you wouldn't ask a used car salesman whether you need a used car. Find a friend who can do basic math with compounding interest instead. I don't want to entirely write off the usefulness of permanent life policies, but in the majority of cases it's cheaper to buy term life (if you need it at all... chances are you have some form of group term life insurance through your employer already), which has a lower premium, and invest the difference. Rose's example gave $400k in cumulative premiums over 30 years to net $1M - that's not great at all. If you invest $400k over 30 years in S&P500 you'd end up with closer to $2M, which is much better than $1M even after factoring in taxes.
When you buy an IUL you’re buying an ART (Annual Renewable Term) policy. Where the insurance component cost goes UP EVERY YEAR. You probably didn’t know that, or if you knew, you are terrible as a financial person.
IUL does not have a guaranteed death benefit and if you are not max funding the policy it really isn't an investment that should be considered. The cost of insurance rises with your age which will eat away the cash value when you get older. Only whole life is the cost of insurance fixed.
Permanent Life insurance is a controversial topic. I have heard different things/have different recommendations. The cash value portion/living benefits portion is nice to have for emergencies from experience having my own and seeing a family member use it. It grows separately from the death benefit and you can borrow it to pay for anything like medical treatments etc. You can add an accelerated death benefit rider and it would subtract anything you owe for cash value from the death benefit. IULs allows dependents to keep that cash value portion when the insured dies. For whole life insurance the cash value goes to the company. There's so many different types of insurance out there and it confuses people.
You pay $1,000/month for your permanent life policy?! Permanent life policy is only a good idea if you're the one selling it. As Dave Ramsey has said many times, it is the payday lender of the middle class. Please do the math, and don't fall for it.
In the past life insurance did build wealth. Now everything you make does get taxed, if it's a Modified Endowment Contract (MEC). The living benefits portion/cash value portion besides the death benefit left for dependents is a nice thing to have and it grows. Health care in America is too expensive and using that cash value can help instead of borrowing from the bank etc.
Helpful video...thank you. 🙏🏽Initially had IUL and years later switched to WL. IUL have exponently increasingly COI (Cost Of Insurance) which kills the Compounding effect.
I have several comments. First, there was no mention about group life insurance offered through an employer. Second, the numbers that you gave don't include the cost of the insurance. Why is that important? If your cost of the insurance that you purchased outweigh the rate of return from the investment, then you would be losing money and it would be better to even have the money in a taxable account if that rate of return outweighs the tax liability. Lastly, you hit upon the reason to have insurance. If someone else depends on your income. If you have no kids and your parents or other family members don't rely on your income, there is no good reason to have insurance. If you die, the money in your investment accounts would go to them (as with every investment account you should pick a beneficiary). I don't believe that you should have a life insurance policy, prove me wrong! I have some kids, but as soon as they are independent (the youngest two are in college) I will be downsizing my group life policy to the free version from my employer. In retirement, I will have no policy. If you can explain why that is a mistake, I am listening. By the way, I love your videos and have learned a lot, but this video isn't as comprehensive as some of your others and I disagree with some aspects.
Rose, I absolutely love your videos. They are so useful. I have been thinking about getting life insurance for a while now. I had no idea about the difference types of life insurance. I do not have or plan to have kids but do take care of my elderly mother, who is basically my dependent. This video has given me a lot to think about. Last year my sister passed and I was the beneficiary on her life insurance. With the money she left me, I will be able to realize my dream of owning a home as I am using the money for a down payment. I never thought about life insurance before that. But it's a great thing to have for a loved one. It was so generous of her and I'm so touched she wanted me to be taken care of. I thank you for your videos, and for all you do to help us learn about these important topics.
I’m so sorry for your loss. I, too wish to do that for my siblings. Would you mind sharing if the insurance company gave you a hard time when you filed the claim? I’m in search of insurance companies that have a good reputation. Thanks!
Idk if life insurance is for me at the moment yet. I would rather invest that premium into my portfolio and leave my investments instead. The investment is guaranteed vs the premium going to waste if I live a long life.
Agreed, she makes it sound good but when comparing her strategies she will make out significantly better off of her other investments. Maxing out her 401k from her age to 65 will have $4-5million in comparison to the $1million she gets with life insurance. And the Roth will most likely be double her life insurance as well, making the insurance look like a terrible investment in comparison. If you can max out all of it and have plenty leftover then great but you’re already financially well off. If you can’t afford to max them all out then thinking of your life insurance as a good investment is a terrible idea.
The life insurance policy is a good way to help your beneficiaries inherit a large IRA. You can spend the money now and convert to Roth IRA, or leave an insurance policy to your love ones to cover the tax due on the IRA. The life insurance is more of a State planning vehicle, not an alternative to investing strategy. She did mentioned that her IRA and 401 were max'd.
ALWAYS get term guys. 99% of people are not at the point to even be thinking about using insurance as an investment plus so many people get burned with mixing insurance and investing. Term is all you need guys, cheaper simple and will cover you. Plus its not smart paying for life insurance if you don't have dependents.
I am inclined to agree with you. While I don't pretend to understand the tax regimes in all jurisdictions and practices of every insurance company, in every case that I have seen the fees charged outweigh the benefits. In addition, most of us reach a point where we no need as much or any life insurance. Once you are financially secure and have no dependents, why do you need life insurance? I keep my term coverage because it is so cheap as I started it 22 years ago, but I wouldn't buy any more now (and even paying the small premium that I do is probably illogical).
She already explained why you would get term life vs permanent. If you have extra money like her you can get permanent. If you don't have the money, then don't. as simple as that. So if you're poor then just says so XD
Good basic information. However, for those who are considered WLI, most policies are written in a way that you cannot receive the cash value at maturity, which is unfortunate, but that's the way the industry is run. For growth, there are likely better ways to invest than paying the high premiums and receiving a fixed dividend.
Here's what the young lady in the video didn't tell you: Whole Life insurance cost (at least) 20 times more in premiums than term. Salesmen love selling this garbage because of high commissions compared to term. Oh sure, you're promised an ever lasting policy and a growing cash value, but here's the truth. The cash value grows (after fees/commissions) at about 1.5%....garbage. The only way to get money out of your cash value is to BORROW against it while paying the insurance company an interest (6%) to borrow against your own money. Does that really sound like a good strategy? Plus, when you die, your beneficiaries only receive the death benefit. THE INSURANCE COMPANY KEEPS YOUR CASH VALUE. Indexed Universal Life (IUL) is also a scam. She's wrong stating it gets invested in Index Funds. The insurance keeps your money and pays you what the index fund mirrors. Plus, the fees/commissions are crazy ridiculous and your gains are capped. And, unless you purchased a Paid Up Addition (PUA) your cash value is kept by the insurance company. Very little IULs make money because of all the fees/commissions eat up the cash value leaving you out of pocket costs to cover the ever increasing term. Stay away from permanent insurance. It's a scam.
I’m sorry but this is such a foolish “investment”. This money is not tax free and permanent life insurance growth is capped, which is how the companies make a lot of their money. It’s also not as tax free as she claims (as others have pointed out). Please people, if you have all retirement accounts maxed out and are still looking to invest more (good for you!!), just dump it into the S&P (and diversify with other low cost index funds). The same $400k that she’s putting into this life insurance policy would be worth $2.7 Million dollars if she just put it in the S&P 500, assuming a 9% growth rate per year over 34 years. Even accounting for 15% capital gains tax means she would have $1.3 Million MORE dollars than this policy will net her. Keep it simple, good luck!
VERY late bloomer! I'll be 60 this year. Good health, family of longevity. 20 yr Term probably won't be long enough & my 35 yo son depends on me. Is there a better option that won't expire & is still affordable enough to pay the premium. WHO IS YAIR? HOW TO CONTACT?
Rose, with your knowledge of the stock market and the guidance you provide I am really surprised you are advocating for permanent life insurance. People need to understand the fees associated with those loans against their "cash values" because that could harm your growth over time. Term life insurance should always be explained with and investment portfolio as well. Look at the schedules for whole life or index policies and it has the possibility to "eat" itself with the monthly premiums as a certain point.
I think you owe a cash flow analysis to determine if the benefits you're pitching (tax wrapper, etc) outweigh the added fees and costs of the insurance. I once had the misfortune to have a 401k with one of these mutual insurance companies you recommend, and their S&P 500 index had a fee over 0.6% per year. I hope you didn't cost some of your viewers hundreds of thousands of dollars pitching these whole life policies, without detailing the cons and costs.
Hold up-do you have a life license and financial securities license? They’re state and federally regulated licenses (foe good reason!!) and I have both. Biting my tongue here, shocked at the misinformation being spread and all
Hi Rose....I have a 17 year old son that I share with my ex husband...I need to get the life insurance ASAP for him ...I wanted him to be the beneficiary but from what I understand I have to put in under my parents Because I trust they will give it to him when he turns 18...correct me if I'm wrong please....the term seems to be what I need...I think I don't have long but nothing has been documented yet by any Dr. Or hospital. English isn't my first language so I apologize if I am asking questions you already went over...Is there a company that you or anyone can suggest of companies that don't need a medical exam ? If they don't need a medical exam , in the event of my death do they have to go over my records? Also, are there any reasons that after my passing the company would not pay it out to my beneficiary? I just want to make sure I do everything right so that there is no problem paying out. Another question is let's say I want to get my son 100,000 and 50,000 to my husband ..is there a way to make sure my husband has to give the 100, 000 to my son and that he gets the 50,000? Or is it better to do separate policies for both? Thank you Or anyone that can help me by replying...I just started looking into this and you were the first video I watched so I'm still a bit lost on how it works but from what I gathered I definitely think permanent is not what I need.
You should call the company’s customer service and ask how much you have available out of all the money you put in, you’ll then realize how were you ripped-off. You know about investment accounts, why would you recommend this junk instead?
I like many things you said about lofe insurance, but there’s something that needs to be clarified: the insurance company does NOT invest your cash value in the stock market in an IUL. They use the earnings from their General Account Portfolio to buy options in the market. So even if the stock market crashes, your worst case scenario is you don’t lose anything, while also not gaining anything. *Cost of insurance and policy expenses are still deducted, so you may experience a decrease in cash value
i believe in the buy term and invest the difference, if you invest the difference, then you will become self insured and wont need life insurance anymore. i think whole life and permanent life insurance is not an investment, but a way to screw people. just my opinion.
Yes! It is a wealth maintenance plan if an income earner has kids or family members (spouses, siblings, and neices/newphews). It might not make them rich, but it helps them out in the worst case scenario.
This is such an important topic people don't think about enough. My best friend's dad dropped dead of a heart attack at 46... while he was riding his bicycle, which he did daily. Thankfully, he had a very good life insurance policy that took care of my friend, her sister, and his wife (their step-mom). Also, while no one wants to think about dying, or their loved ones dying, anyone who has had to deal with those situations know death is EXPENSIVE. It's not just your burial, what your remains are kept in, but also the time and resources it takes to get rid of the belongings of someone who has passed on. Those all cost thousands of dollars. And the last kind thing you can do for your loved ones is not leave that financial burden on them when they're already grieving your loss.
Hi Rose, this is a timely video for me! Thank you for covering this! Can you do a video how exactly to take loans (process, what to be careful of as to interests etc.) out of it, and what you would do with the loan to build your wealth. I love your down to earth and real person perspective, and relatable advices! Thank you!!
If you're interested in getting life insurance for yourself, book a free call with my trusted insurance agent! Ask a lot of questions, and don't ever buy insurance from anybody without fully understanding it. ▶▶▶ calendly.com/yairklyman
My term life insurance states I will get the premium that I paid for the term of 15 yrs...can someone tell me it this is true? She says, the monwy for term ins is gone
Was your policy sold to you by an insurance agent or a licensed financial professional with securities licenses? Indexed policies have so many caveats, they may have been the wrong solution for you.
If you have children you need life insurance since how would they get on without you. The best bargain then is term. Other forms of insurance underperform in comparison with standard investments. If you're children are all grown or you don't have any then you don't need life insurance. The tax advantages generally are not sufficient.
Loved loved loved the video. Very clear and easy to follow! I scheduled a 30min call with Yair but I hope you can do a follow up video explaining other details (i.e. fees involved, tax advantages, penalties for early withdrawal, more details on flexibility of accessing your money, are premiums fixed for life for IUL policy? why would anyone get a brokerage account at this point??). Thank you!
What happens if I can’t invest in a permanent one right now but want to later and when I do, it’s still during my 20 year life insurance period? Will I be paying for two life insurance policies?
Hi Rose! Thanks for doing such a detailed breakdown of what permanent life insurance is. Would you consider doing a video directly comparing and contrasting term vs permanent with pro's and cons of each, and who the different policies are best for based on their financial information?
Life's insurance is the beginning of murder crimes for some people. Lots of Money can change dramatically almost anyone. I lost all my savings to my cousin - the person I was closest to. Ah ah.
I really appreciate this video. You explain it extremely well. The term life insurance is affordable, but the permanent life insurance sounds really great too. I will take some information from your video and use in my decision making process about taking out an insurance policy. Thanks again for this great video. Great job, and well done.
I am a licensed agent and senior advisor in this industry. Rose is 100% correct. Having coverage and savings as an IUL is the smarter way to go. National Life is the best in this industry. Their living benefits is so invested and beneficial in the members, the policy holders. If anyone is interested please feel free to reach out. Our purpose is to teach and show people about these types of policies, not force anyone to purchase.
Hi rose, what about doing a video about marriage and finances. A lot of marriages fail due to poor finances, especially with no financial plan. Some individuals get burned after the marriage is done with no estate planning or financial planning. also if you have already made the video someone feel free to link it when replying to my comment
@@itsrosehan, Thanks for your reply Rose also prenuptial or postnuptial agreement(Prenup or postnup) are often portrayed as taboo within a relationship. I have seen it portrayed as a sign of mistrust when it's brought up in the media. if you have any experience and knowledge of prenup and postnup with its pros and cons please share it. If not then no worries this is just a suggestion
The index universal life insurance was very interesting and attractive especially for young people, however when I looked into it I realize that the premium/fee for the insurance part will continue to increase even if it is exact same fee every month or not, so the amount that goes to the investment will decrease in time? could you please explain that because if that’s the case it’s really not beneficial?
Hey Rose, thank you for your videos and knowledge I know you are mostly under stable investing traditions. I want to know your opinion on the recent market craze. Have you done a video on the recent AMC and GME stock and the potentials for short squeezes? Maybe i missed a video or comment. That is why i am writing to you on this one. Thank You
Your videos rock and I've watched a ton. But I'm not sure about this one. A lot of big players, including Clark Howard and Dave Ramsay, for example, speak of the horrors of this type of insurance. As Nick Fong stated below, it's an investment vehicle where the person collecting commissions wins. In almost EVERY case, you're better off using your cash towards the stock market and getting a simple term insurance policy. Thanks for all you do!
@@RepliédbyMattKohrs-k5c here we gone. Rose has a checkmark ✔️ near her name if she leaves a comment. She never replies to my comments. Rose with an apostrophe above the e. Question? Why are you targeting me? Do I look like a fool to you. F#ck off. And I hope she sees this
@@jermaineholmes3531 “whole life” is a type of permanent life insurance. You get a guaranteed interest rate plus non-guaranteed dividends. Going with a long standing and reputable company, there’s about 0% risk. However, they are VERY front loaded with fees. Because they are secure and tend to grow at a 3-5% rate over the long term… I look at them as similar to bonds.
I don’t understand the cash value aspect for term life insurance? I thought only whole life insurance has a cash value you can take out? Your beneficiaries can’t actually take out cash from term life insurance unless you die correct?
Totally agree life insurance is underated but I think people are starting to see the essential of any type of insurance, it took pandemic to wake's us up, love your channel and work rose, you saved me lots of money from the tech few months ago before the big dips that still haven't ends, I am still waiting for my application to be your boyfriend to be accepted🤗
Hello again Compadres Rose🍓You remind me of Suzie Or Man except more Beautiful if Course. My name is CharlieB outta Dobbs Ferry N.Y. I Believe in People 1st, A Clean Healthy Lifestyle & Mindset of course. Energy Psychology has Helped me Immensely if I add this to a Healthy Lifestyle🤗👻YaAllStaySafe😃
Thank you, I have had a IUL for many years now but I got one not really understanding why. But to see I can put a large amount in changes my outlook on things. But I will be booking a meeting because I want to know more about making sure the family has one or should I just have one large policy very tuff. Thanks Rose 🙌
