Term Life vs. IULs

[IH74041]

Life insurance, it's a scam! Who needs it? Why do I want to profit off of someone I love's death? Well, the answer is simple, you are not profiting off of a death, you are being taken care of when you lose the person you love. With Life Insurance, you have to take into consideration which options would be best for your financial situation: Term Life insurance is a very affordable way to make certain that if in the event you die, your loved ones will be able to grieve adequately without having to rush back to work while they still deal with your loss. Although they are expensive, Indexed Universal Life (IUL) policies offer the advantage of a tax advantaged way to shelter your money when you retire so that the proceeds can be safely kept until you are ready to use them. Or those benefits will grow so that when you pass, you will leave an inheritance that will ensure your family will be provided for. Either way, one has to look at the costs and benefits of both types of policies and then make the choice that would best suit his/her needs.

 

[Reedsalvey]

How reliable is it? I know cases when the insurance company did not pay out money, arguing that it was not exactly an insurance case

 

[Suba]

The benefits of life insurance cannot be received by the owner or the person who buys the life insurance premium, but the beneficiaries or the person who is left behind will receive the benefits whose names have been listed on the life insurance product.
Unfortunately many life insurance companies scam when family members claim their rights. so that the level of public confidence in life insurance companies decreases.

 

[IH74041]

The benefits of life insurance cannot be received by the owner or the person who buys the life insurance premium, but the beneficiaries or the person who is left behind will receive the benefits whose names have been listed on the life insurance product.
Unfortunately many life insurance companies scam when family members claim their rights. so that the level of public confidence in life insurance companies decreases.

You're almost 100% correct....Insurance companies across the board have screwed over customers for years and now they are having to rebuild their reputations. One point I have to respectfully disagree with you on your assertion is that the, "benefits of life insurance cannot be received by the owner or the person who buys the life insurance premium, but the beneficiaries or the person who is left behind will receive the benefits whose names have been listed on the life insurance product." With IULs, people use those as a tax shelter to keep the government from taking their wealth and stripping future generations of the wealth that has been accumulated.