wonderdog….Depends how long you are in the policy. There’s a “point of no return” with wl. It’s a little like the Iraq war. If you like Dave Ramsey teaches Financial Peace seminars in your area. You REALLY need to take some classes. Yes, I have had at least 5 e-mails of people buying term instead of Whole Life crap.
But your telling us you are getting people to drop policies. How do you know if it is good for them to drop it? Could you explain to them why or why not? I doubt you could. (By the way, I really doubt you’re actually getting any people to drop policies. Try and be truthful if you can please)
wonderdog…obviously you can’t read between the lines. He has been in it SO LONG it’s not feasible for him to drop it. Hence, it should have never been purchased in the first place. He is stuck in a lousy policy. You weasels got to him.
The answer to that question can be found in the illustrations you got when you signed on the dotted line. If you can’t determine the surrender value you may have to — heaven forbid — call your agent and ask. But it’s worth taking the trouble before you make a decision.
Most policies don’t start to build decent a cash value until their 12th or 15th year. So if you cash in after 10 years, you could be out of a lot of money. (Continued)
Here is a quote form your own source: You’ve been faithfully paying into that whole life policy a good pal of your brother-in-law sold you 10 years ago. And now you’re thinking, “Hey wait a minute, I should be bailing out and getting a cheap term policy.” Not so fast. First and foremost, keep in mind the substantial sum you’ve probably paid in over the years. How much will you get if you “surrender” or cash it in now? (Continued)
My sources are strong. Unlike yours…oh wait, that’s right, you don’t have ANY sources other than insurance companies. My goal is to bankrupt people who sell wl policies. I just had two more e-mails thanking me for saving them money by buying term instead of whole life. More money I’m taking out of your pocket,,,,I love it!
The sad thing is, you don’t really know why that is bad advice, do you? Your own sources tell you why, why don’t you go back and read “Term or Whole Life?” and look at the section “keep your old policy?” Isn’t it a bitch when your own sources come back to bite you in the ass? And your previous comment on “definitions” makes no sense. I gave no definitions, and only pointed out opinions in the article.
Wow, astroman30, your getting people to drop their WL policies and pick up term. Even your own sources tell you not to do that (dropping a WL policy after it has started is almost always a bad idea). Even people who don’t like WL won’t recommend that. Good Job!
First, name-calling is quite unbecoming of you. Second, you continue to have no argument and refuse to address any of the points I bring up (or any points made by other WL advocates). Third, I hope you are getting emails about people dropping variable policies, WL is the vehicle I’m advocating.
I pay 355 for a 500k WL policy because it gives me so much more than a $30/mo term policy. I’ve been over this many times now so you can read past comments to review.
Oh people make money, but it’s not real wealth. And it’s not guaranteed. It’s not really liquid to be in the market because at any time the market could be down and you’d have to realize a potential loss. It takes liquidity of your money to be in a position to make real money. Real wealth comes from three places: Real Estate, closely held businesses, and intellectual capital. The first two require liquid assets to invest in. WL provides that liquidity.
thatpsychoidiot……Why would anyone pay $355.00 compared to $30.00 a month? WL is garbage pure and simple. You like it because it’s bigger profits for you. Good news is I’m getting e-mails from people who are dropping their whole/cash/variable in favor for term. Keep on listening to Dave.
You know what’s even better for an insurance company and worse for the consumer? I’m sure you saw this coming…Term Insurance! While term provides great coverage for those who can’t afford the best type of insurance, it also is a pure expense for 99% of people holding it! What a waste! Talk about a profitable gig! With WL, the insurance company has to pay out FOR EVERYBODY who pays premiums. Wow. 1% vs 100%. If I were an insurer, I’d like the odds of only paying out 1% of the time.
The stock market will go back up…but it will also go back down, and up, and down, etc. The problem is not being able to predict where the market will be when you need your money. Just because the market is up, doesn’t mean you have any real gains. It’s all on paper. If you have to realize your gains when the market is down 40% (example: see anybody trying to retire right now), you have a bad situation that is a result of not understanding risk.
wonderdog…You know why “they don’t outright say it’s better?” because it’s not. Again, my article states that wl policies are not good investment vehicles. You are only stating definitions.
You also might want to drop Consumer reports as one of your sources as I have found a few article that point out at least some of the pros of WL insurance. Check out “where to find emergency cash” and “paying to much for Life Insurance.” They don’t outright say it is better, but they mention where it works and who it is often times better for. “Consumer Reports” (as a whole) does not state/support that “Term Only” is better 100% of the time. Haven’t I been saying that all along?
The article “Which Life Insurance Is Best?” clearly states pros and cons for term and whole. You said “Smart Money” was one of your sources. This article is from Smart Money . I’m showing that within “Smart Money”, opinions vary, even though specific articles may take a certain stance. If you’re only using one article, don’t cite ALL of Smart Money.
I just sent you the link from Smart Money. Nice try on your part, but you are only giving me definitions. The article I sent you states that wl policies are NOT good investment vehicles. Check it out.
Astroman30, you may want to drop SmartMoney as one of your sources, since in does not support Term insurance 100% of the time and even talks about the pros of WL. Check out “Which Life Insurance Is Best?” Remember astroman30, your sources are generally supposed to back you up. And while your at it, why don’t you look at some actual policies and not just other peoples opinions on them (often times they have never seen a policy either).
Being on TV doesn’t make them right. Good ratings makes them stay on TV. Good rating doesn’t make them right either. And you don’t have facts (because you don’t know the facts), you have your opinion (which happend to be their opinion). Ironically, they don’t know the facts either.
wonderdog….I based my facts off of my sources: Dave Ramsey, Jim Cramer, Suzie Ormon, Smart Money, Consumer Reports…etc. You base your snake oil pitch off of your Life Insurance 101 class. Now you’re saying ALL my sources are wrong. Why do you think they continue to stay on the air if the information they are giving is incorrect? Do you see how silly you sound?
Since you have have gotten the math, statistics, and facts wrong since we’ve started talking, I assume you base your theories on tradition, ideals, and heresay.
Also, may issues in politics (debt, entitlements, taxation, the budget, etc.) have actual “numbers” and/or “math” at their foundation, yet people do not see eye to eye. And at the same time many peoples perspectives on LI area actually based on “ideals” and/or “traditions,” not the facts or math. Humans or not always as logical as they think they are. People have opinions and perspectives on all aspects of life that intertwine logic and tradition.
All of your sources are wrong when they say that Term is “always” the route one should take. Half the time, that is correct, but the other half it’s not. Investing and insurance are based on facts, statistics and math (none of which you have shown any grasp of). What does it matter what any of your sources say if you yourself don’t have the ability to be critical of their statements. In what way can you “validate” what they say? Again, it’s not like you know what they are talking about.
This post has 25 comments
February 9th, 2009
wonderdog….Depends how long you are in the policy. There’s a “point of no return” with wl. It’s a little like the Iraq war. If you like Dave Ramsey teaches Financial Peace seminars in your area. You REALLY need to take some classes. Yes, I have had at least 5 e-mails of people buying term instead of Whole Life crap.
February 11th, 2009
But your telling us you are getting people to drop policies. How do you know if it is good for them to drop it? Could you explain to them why or why not? I doubt you could. (By the way, I really doubt you’re actually getting any people to drop policies. Try and be truthful if you can please)
February 11th, 2009
wonderdog…obviously you can’t read between the lines. He has been in it SO LONG it’s not feasible for him to drop it. Hence, it should have never been purchased in the first place. He is stuck in a lousy policy. You weasels got to him.
February 12th, 2009
The answer to that question can be found in the illustrations you got when you signed on the dotted line. If you can’t determine the surrender value you may have to — heaven forbid — call your agent and ask. But it’s worth taking the trouble before you make a decision.
Most policies don’t start to build decent a cash value until their 12th or 15th year. So if you cash in after 10 years, you could be out of a lot of money. (Continued)
February 15th, 2009
Here is a quote form your own source: You’ve been faithfully paying into that whole life policy a good pal of your brother-in-law sold you 10 years ago. And now you’re thinking, “Hey wait a minute, I should be bailing out and getting a cheap term policy.” Not so fast. First and foremost, keep in mind the substantial sum you’ve probably paid in over the years. How much will you get if you “surrender” or cash it in now? (Continued)
February 15th, 2009
My sources are strong. Unlike yours…oh wait, that’s right, you don’t have ANY sources other than insurance companies. My goal is to bankrupt people who sell wl policies. I just had two more e-mails thanking me for saving them money by buying term instead of whole life. More money I’m taking out of your pocket,,,,I love it!
February 18th, 2009
wonderdog….none of the sources say keep the wl policy. Try again.
February 21st, 2009
Pardon my language in my last post.
February 24th, 2009
The sad thing is, you don’t really know why that is bad advice, do you? Your own sources tell you why, why don’t you go back and read “Term or Whole Life?” and look at the section “keep your old policy?” Isn’t it a bitch when your own sources come back to bite you in the ass? And your previous comment on “definitions” makes no sense. I gave no definitions, and only pointed out opinions in the article.
February 25th, 2009
Wow, astroman30, your getting people to drop their WL policies and pick up term. Even your own sources tell you not to do that (dropping a WL policy after it has started is almost always a bad idea). Even people who don’t like WL won’t recommend that. Good Job!
February 27th, 2009
First, name-calling is quite unbecoming of you. Second, you continue to have no argument and refuse to address any of the points I bring up (or any points made by other WL advocates). Third, I hope you are getting emails about people dropping variable policies, WL is the vehicle I’m advocating.
I pay 355 for a 500k WL policy because it gives me so much more than a $30/mo term policy. I’ve been over this many times now so you can read past comments to review.
February 27th, 2009
Oh people make money, but it’s not real wealth. And it’s not guaranteed. It’s not really liquid to be in the market because at any time the market could be down and you’d have to realize a potential loss. It takes liquidity of your money to be in a position to make real money. Real wealth comes from three places: Real Estate, closely held businesses, and intellectual capital. The first two require liquid assets to invest in. WL provides that liquidity.
February 28th, 2009
thatpsychoidiot……Why would anyone pay $355.00 compared to $30.00 a month? WL is garbage pure and simple. You like it because it’s bigger profits for you. Good news is I’m getting e-mails from people who are dropping their whole/cash/variable in favor for term. Keep on listening to Dave.
March 2nd, 2009
You know what’s even better for an insurance company and worse for the consumer? I’m sure you saw this coming…Term Insurance! While term provides great coverage for those who can’t afford the best type of insurance, it also is a pure expense for 99% of people holding it! What a waste! Talk about a profitable gig! With WL, the insurance company has to pay out FOR EVERYBODY who pays premiums. Wow. 1% vs 100%. If I were an insurer, I’d like the odds of only paying out 1% of the time.
March 5th, 2009
The stock market will go back up…but it will also go back down, and up, and down, etc. The problem is not being able to predict where the market will be when you need your money. Just because the market is up, doesn’t mean you have any real gains. It’s all on paper. If you have to realize your gains when the market is down 40% (example: see anybody trying to retire right now), you have a bad situation that is a result of not understanding risk.
March 5th, 2009
wonderdog…You know why “they don’t outright say it’s better?” because it’s not. Again, my article states that wl policies are not good investment vehicles. You are only stating definitions.
March 6th, 2009
You also might want to drop Consumer reports as one of your sources as I have found a few article that point out at least some of the pros of WL insurance. Check out “where to find emergency cash” and “paying to much for Life Insurance.” They don’t outright say it is better, but they mention where it works and who it is often times better for. “Consumer Reports” (as a whole) does not state/support that “Term Only” is better 100% of the time. Haven’t I been saying that all along?
March 9th, 2009
The article “Which Life Insurance Is Best?” clearly states pros and cons for term and whole. You said “Smart Money” was one of your sources. This article is from Smart Money . I’m showing that within “Smart Money”, opinions vary, even though specific articles may take a certain stance. If you’re only using one article, don’t cite ALL of Smart Money.
March 11th, 2009
I just sent you the link from Smart Money. Nice try on your part, but you are only giving me definitions. The article I sent you states that wl policies are NOT good investment vehicles. Check it out.
March 14th, 2009
Astroman30, you may want to drop SmartMoney as one of your sources, since in does not support Term insurance 100% of the time and even talks about the pros of WL. Check out “Which Life Insurance Is Best?” Remember astroman30, your sources are generally supposed to back you up. And while your at it, why don’t you look at some actual policies and not just other peoples opinions on them (often times they have never seen a policy either).
March 14th, 2009
Being on TV doesn’t make them right. Good ratings makes them stay on TV. Good rating doesn’t make them right either. And you don’t have facts (because you don’t know the facts), you have your opinion (which happend to be their opinion). Ironically, they don’t know the facts either.
March 18th, 2009
wonderdog….I based my facts off of my sources: Dave Ramsey, Jim Cramer, Suzie Ormon, Smart Money, Consumer Reports…etc. You base your snake oil pitch off of your Life Insurance 101 class. Now you’re saying ALL my sources are wrong. Why do you think they continue to stay on the air if the information they are giving is incorrect? Do you see how silly you sound?
March 19th, 2009
Since you have have gotten the math, statistics, and facts wrong since we’ve started talking, I assume you base your theories on tradition, ideals, and heresay.
March 21st, 2009
Also, may issues in politics (debt, entitlements, taxation, the budget, etc.) have actual “numbers” and/or “math” at their foundation, yet people do not see eye to eye. And at the same time many peoples perspectives on LI area actually based on “ideals” and/or “traditions,” not the facts or math. Humans or not always as logical as they think they are. People have opinions and perspectives on all aspects of life that intertwine logic and tradition.
March 22nd, 2009
All of your sources are wrong when they say that Term is “always” the route one should take. Half the time, that is correct, but the other half it’s not. Investing and insurance are based on facts, statistics and math (none of which you have shown any grasp of). What does it matter what any of your sources say if you yourself don’t have the ability to be critical of their statements. In what way can you “validate” what they say? Again, it’s not like you know what they are talking about.
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