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Hmmm, this almost is sounding like a DIY guy.
A one time sales commission bothers him. Probably has investments that have no loads but have the highest ongoing expenses they can be charged.
Up front, in the middle, at the end or along the way, EVERYBODY gets paid for their work. If you can be fooled into thinking your better off by not ending your sales charges with the money you put in rather than when it just sits and/or hopefully has gains... Well good luck to ya. You figure out what is , If you're worried about somebody getting a one time commission of 50% on your first year premium, ya might want to watch out for term as some of those term policies pay 120% first year commission.
Worry less about some of the things you're fretting over and just decide if it works for you or not. In my old age I tire quickly in this type of debate. We've all dealt with your type of client and honestly at a certain point ya stop caring about what they do. It's horse to water stuff.
Again good luck, about the last 20-30 threads have told you the same thing. Please just do what you want. I deal with people like you 25-30 years later and they spend a lot of money or more often are told "no you can't get covered anymore because of health." and are screwed. I run into more people who now wish they bought whole life as a young person, because all the theories they used to talk themselves out back when are now screwing them over as they still have a need, but now the insurance even as term costs a lot more and is rising and any gain in their BTID is now being used to pay for the ever increasing cost of term coverage.
Sorry, I own WL and am so happy I made that repurchase at 29. Originally owned the first plan at 22. Was talked out of it to chase 14% returns. Went into the business learned that I was stupid chasing returns on products that never gave me control and would screw me later in life. I repurchased WL. Now just shy of 30 years later and becoming totally uninsurable because of health I am so glad I made that choice to rebuy WL.
I own the policy, my costs are locked in, the policy returns about 3x in cash values as to what I put into it in premium. They can't price me out of what I "own". I've said this twice now. I own the policy. I make the decisions, they can't price me out or change the terms. Insurance companies charge a hell of a lot to give up control, is that because it's a bad choice for the client?
I could go on for pages about why I love my WL choice and not any paragraph would be about return or commission somebody made one time. Try laying in a hospital bed, dodging death and figuring out where you go from here? Not having to worry about the life insurance because I own it, gave me peace of mind that you can't imagine yet because you're a young guy.
I 'm glad that when I was your age, I looked around at others who were older and saw the mistakes they made in their choices financially. I honestly never thought I could have died in my mid fifties or become uninsurable as at your age I was still knocking the crap out of people on the rugby pitch and the idea that my health would change so dramatically 25 years later would actually happen. But it could and it did and something I did when I was super healthy has turned into a godsend later when it turned out I wasn't. I've actually used my disability clause which paid my premiums while recovering. Not many investments have a option that continues to pay and grow your portfolio like a WL can.
Anyway, two or three paragraphs too long Sorry. Good luck to you. In all your hypotheticals, maybe add in your health changing and becoming uninsurable. Someone already mentioned DI, you haven't, you should have.
A one time sales commission bothers him. Probably has investments that have no loads but have the highest ongoing expenses they can be charged.
Up front, in the middle, at the end or along the way, EVERYBODY gets paid for their work. If you can be fooled into thinking your better off by not ending your sales charges with the money you put in rather than when it just sits and/or hopefully has gains... Well good luck to ya. You figure out what is , If you're worried about somebody getting a one time commission of 50% on your first year premium, ya might want to watch out for term as some of those term policies pay 120% first year commission.
Worry less about some of the things you're fretting over and just decide if it works for you or not. In my old age I tire quickly in this type of debate. We've all dealt with your type of client and honestly at a certain point ya stop caring about what they do. It's horse to water stuff.
Again good luck, about the last 20-30 threads have told you the same thing. Please just do what you want. I deal with people like you 25-30 years later and they spend a lot of money or more often are told "no you can't get covered anymore because of health." and are screwed. I run into more people who now wish they bought whole life as a young person, because all the theories they used to talk themselves out back when are now screwing them over as they still have a need, but now the insurance even as term costs a lot more and is rising and any gain in their BTID is now being used to pay for the ever increasing cost of term coverage.
Sorry, I own WL and am so happy I made that repurchase at 29. Originally owned the first plan at 22. Was talked out of it to chase 14% returns. Went into the business learned that I was stupid chasing returns on products that never gave me control and would screw me later in life. I repurchased WL. Now just shy of 30 years later and becoming totally uninsurable because of health I am so glad I made that choice to rebuy WL.
I own the policy, my costs are locked in, the policy returns about 3x in cash values as to what I put into it in premium. They can't price me out of what I "own". I've said this twice now. I own the policy. I make the decisions, they can't price me out or change the terms. Insurance companies charge a hell of a lot to give up control, is that because it's a bad choice for the client?
I could go on for pages about why I love my WL choice and not any paragraph would be about return or commission somebody made one time. Try laying in a hospital bed, dodging death and figuring out where you go from here? Not having to worry about the life insurance because I own it, gave me peace of mind that you can't imagine yet because you're a young guy.
I 'm glad that when I was your age, I looked around at others who were older and saw the mistakes they made in their choices financially. I honestly never thought I could have died in my mid fifties or become uninsurable as at your age I was still knocking the crap out of people on the rugby pitch and the idea that my health would change so dramatically 25 years later would actually happen. But it could and it did and something I did when I was super healthy has turned into a godsend later when it turned out I wasn't. I've actually used my disability clause which paid my premiums while recovering. Not many investments have a option that continues to pay and grow your portfolio like a WL can.
Anyway, two or three paragraphs too long Sorry. Good luck to you. In all your hypotheticals, maybe add in your health changing and becoming uninsurable. Someone already mentioned DI, you haven't, you should have.
