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  1. #11
    Registered User Semi Pro Member
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    270
    Has anyone else had financial planners seem more interested in pushing whole life insurance policies on them more than anything?


  2. #12
    Registered User Enthusiast
    Posts
    91
    Quote Originally Posted by Toman23 View Post
    Has anyone else had financial planners seem more interested in pushing whole life insurance policies on them more than anything?
    Yes. Because they love the commission. If you have one of these policies, just look at the difference between what you pay and the surrender value. That is the commission.

    Personally, I am not a fan of whole life. Too pricey for what it offers.

  3. #13
    Registered User Senior Member
    Posts
    240
    We just met with a new financial planner. All she wanted to talk about was universal life insurance.

    Is this normal?

  4. #14
    Registered User Semi Pro Member
    Posts
    382
    It's normal because the portions of the premiums on these policies that the planners earn are huge.

    If you look at the cash surrender value, that amount is basically how much of the premium an advisor will earn on these. And they get to collect every year you make a payment.

    It is an annuity plan for financial advisors. And you get to take on the risk that your insurance provider will not be able to stay in business.

    IMHO, not a good trade for you.

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