Onto WL now, How much DB for 10k?

[jboussea]

What's the best design for CV in a 10 pay Mass Mutual WL policy? How much DB should we start out with 10 years of 10K per year each?
How much CV can we expect around age 65?

Since the premiums are not flexible like IUL, if I am not able to allocate funds in any year, is it possible to save the policy from lapsing?Policy lapsing after paying 8 or 9 payments and not able to pay the 10th would be a great tragedy.

This is one of the minuses of WL. This and low returns.

i would compare the Mass Mutual 10 pay vs a life pay that is Reduced Paid up after 10 years. 2 reasons

1. it gives you more flexibility .. if you were to decide to put more into the policy later .. a reduced paid up after 10 years essentially make your life pay policy a 10 pay policy

2. it might allow you to put more paid up additions than the 10 pay .. i would just compare the 2 just to make sure.

I would also compare the Mass policy to a Penn Mutual policy.. Penn could be competitive.. and though I don't have Guardian .. i've heard t hat they are good for 10 pay policies.

 

[js44]

Any Life Insurance policy is potentially capable of Lapsing if you have taken Withdrawals or Loans or have missed Scheduled Premiums.

WL loans vary from policy to policy. Generally speaking, most WL policies do not offer wash loans. Some offer participating loans, others non-par, others you can choose.

A WL Policy can provide more flexibility than most people think. Especially if you overfund a RPU design on a life pay.

Looks like I have to learn this terminology first. It's different than IULs.

 

[js44]

i would compare the Mass Mutual 10 pay vs a life pay that is Reduced Paid up after 10 years. 2 reasons

1. it gives you more flexibility .. if you were to decide to put more into the policy later .. a reduced paid up after 10 years essentially make your life pay policy a 10 pay policy

2. it might allow you to put more paid up additions than the 10 pay .. i would just compare the 2 just to make sure.

I would also compare the Mass policy to a Penn Mutual policy.. Penn could be competitive.. and though I don't have Guardian .. i've heard t hat they are good for 10 pay policies.

Can you give an example? How much DB to start with 10K premium?

 

[scagnt83]

I don't have an agent. I am just learning about WL for now. When I have acquired the right knowledge and ready to buy, I will find one and tell him/her this is what I want. That way, I won't be steered the wrong way.

I have decided 50-50 blend of IUL/WL.

Would you go to an attorney and tell them what to do?

Or would you interview attorneys until you found one that is capable of properly answering all your questions, presenting all your options, and guiding you to the needed solution?

Would an engineer just randomly stamp another persons blue prints?

Why would your advisor trust you as a client, if you dont trust them as an advisor?

Your method is doomed to fail in my experience. Very few competent advisors would take on a client with that mindset... only desperate ones who need to make a sale.

 

[js44]

Would you go to an attorney and tell them what to do?

Or would you interview attorneys until you found one that is capable of properly answering all your questions, presenting all your options, and guiding you to the needed solution?

Would an engineer just randomly stamp another persons blue prints?

Why would your advisor trust you as a client, if you dont trust them as an advisor?

Your method is doomed to fail in my experience. Very few competent advisors would take on a client with that mindset... only desperate ones who need to make a sale.

This is again going into an attack mode. I don't know if I would select my attorneys or engineers that way BUT I would certainly select my "Real Estate Agents" that way and hey! so far it has worked for me in my real estate dealings

I know what would happen if I treated my RE agent as an advisor, lol! She would give the seller more than they asked for. lol lol

When it comes to investments, investor must be in the driver's seat. Otherwise, you will end up somewhere you don't want to be. With your mindset, only average dumb people will be your clients and they are more likely to sue you if their policies don't work out.

 

[js44]

This is again going into an attack mode. I don't know if I would select my attorneys or engineers that way BUT I would certainly select my "Real Estate Agents" that way and hey! so far it has worked for me in my real estate dealings

I know what would happen if I treated my RE agent as an advisor, lol! She would give the seller more than they asked for. lol lol

You can see how "agent" rhymes with both life insurance and real estate.

And how there are no Engineer agent and Attorney agent

 

[js44]

Very few competent advisors would take on a client with that mindset... only desperate ones who need to make a sale.

I don't know why you would say that. I just meant, I would like to be better prepared first before actually going to an agent. No disrespect there.

 

[pfg1]

You can see how "agent" rhymes with both life insurance and real estate.

And how there are no Engineer agent and Attorney agent

Keep in mind, you are coming to a site that is filled with evil 'agents' and begging for their knowledge.
Its ok to want to know about what you are doing, rather than go on blind faith...that is being prudent. But it sounds like you are basically saying that any agent, advisor, etc is only in business to screw you just to make a buck.

 

[js44]

Keep in mind, you are coming to a site that is filled with evil 'agents' and begging for their knowledge.
Its ok to want to know about what you are doing, rather than go on blind faith...that is being prudent. But it sounds like you are basically saying that any agent, advisor, etc is only in business to screw you just to make a buck.

look pfg1, begging is a strong word. Nobody asked him to answer me. He was the one "begging" for a punch and I gave it. I was peacefully learning here and some good agents were being very helpful until this guy showed up and ruined it and I just lost it.

 

[scagnt83]

look pfg1, begging is a strong word. Nobody asked him to answer me. He was the one "begging" for a punch and I gave it. I was peacefully learning here and some good agents were being very helpful until this guy showed up and ruined it and I just lost it.

Wow. I asked a simple question. And made a simple comparison. You are the one who brought up your plan to do it yourself so you wont get screwed by an agent. Dont bring it up if you are unwilling to discuss it. I did not attack you, merely asked a question.

In fact, you are the one who previously attacked me (and accused me of being unethical) .... just for providing technically accurate answers to your questions.

If you call making accusations of being unethical "peaceful", then you have a strange definition of peace. You very easily could have asked questions instead of making accusations and jumping to assumptions.

Just your terminology alone "begging for a punch" shows your lousy and disrespectful attitude. And why are you now looking at WL? Perhaps because so many of us recommended it? Yet you still have zero gratitude or respect.