0
One agent told me that it talks, it walks, it dances, and if it could move, it would go out and start your car on cold winter mornings. I mentioned to another agent that universal life is nothing more than a high priced annual renewable term. She called me a name. I said get one of your policies (she did), take it out of the plastic insert and place it open on your desk (she did), without moving the police in any way, shape, or form take a look at the very bottom of the policy (first page) (she did). She said 'this is impossible. I work for a good company'. The bottom of the page reads THIS IS AN ANNUAL RENEWABLE TERM PRODUCT. She didn't believe that the company would lie to her.
Read the second piece of paper in a universal life. You can see the decreasing value of the insurance. I carefully researched, read, and scrutinized 5 universal life's from 5 different companies, using a graph. I determined that these policies are designed to be thrown away, for lack of a better word, at about 5 to 7 years down the road. Be careful with the pitch. It's practiced for hours on end by the agent. Does he talk about savings? Notice that is not stapled to the policy. Does he talk about investments? Notice that that is also not stapled to the policy. Ask him to leave his doodlings and notes, all the pieces of paper with numbers, so that you can review later. Notice that he or she won't do that either. Turn your radio on - the song an dance is coming up. Authors on this subject: Venita Van Caspel, Norman Dacey, Jane Bryant Quinn, and the list goes on. Arm yourself with knowledge.
------------------------------------
They will talk about you having money to retire - which is false. A universal life insurance plan will not give you enough money to retire, it barely grows with inflation.
They will talk about your ability to borrow against your life insurance plan if you ever need the money, you can do the same thing with a 401K plan (not that I would ever suggest borrowing money from either, you lose interest and growth).
My take on whole life is that you should not do it. Read David Bach's book "Smart couples finish rich" to enlighten yourself financially. Before you think about investing in whole life (universal life), you should be maxed out in every other investment inlcuding your 401K, IRAs, etc. Whole life should be your last option for investment.
You are better off getting a term life policy and investing the difference (into an IRA) of what you would have paid for whole life.
Add your answer:
Earn +20 pts
Where can one find information on sales selling?
"Sales" and "Selling" are the same thing. One can find information on selling at the local library. There will be many books on sales techniques and the librarians will be able to assist anyone who wishes to find one.
What are some good life insurance sales techniques?
A good life insurance sales technique is to understand the position the client is in, whether the client is starting a young family or have grown up children. This will help determine their needs in which kind of policy they require.
What is the abbreviation for sales?
Selling all lies ethically ( sales )
What is missionary selling?
A missionary type of sales job involves convincing someone who has never used a product to buy it. Selling financial planning or life insurance and other financial products typifies the missionary sales job. The metaphor of a missionary involves educating someone about an idea or concept and convincing them to have faith in that concept.
What is consultative selling?
Consultative selling is the selling process where a sales person spends time with a company to understand the problems they are trying to solve. The sales person then tries to sale them the solution to their problem.
Where can one find information on sales selling?
"Sales" and "Selling" are the same thing. One can find information on selling at the local library. There will be many books on sales techniques and the librarians will be able to assist anyone who wishes to find one.
Define the term sales management explain the functions of sales management in detail quoting suitable examples?
Sales management is the practical application of sales techniques. Functions are like product sales where a sales person walks round selling products.
What type of a program is spin selling?
Spin selling is a sales technique that differs from classic techniques. Spin selling has the seller presenting the product in such a way so that the seller identifies a problem and then see the product as the solution.
What has the author William T Brooks written?
William T. Brooks has written: 'High impact public speaking' -- subject(s): Public speaking, Oral communication 'Sales techniques' -- subject(s): Selling, Vocational guidance, Sales personnel 'High impact selling' -- subject(s): Selling 'Niche selling' -- subject(s): Selling, Consumer satisfaction, Consumers' preferences
What is the total cost of a CD player with a selling price of 150.?
It would be $150.00 + any applicable sales taxes. If it were ordered online it would be $150.00 + applicable sales taxes + shipping & handling + insurance.
What has the author Howard Bishop written?
Howard Bishop has written: 'Master guide to field sales management tactics and techniques' -- subject(s): Sales management, Traveling sales personnel 'Portfolio of ready-to-use model sales scripts' -- subject(s): Sales letters, Selling
What are some good life insurance sales techniques?
A good life insurance sales technique is to understand the position the client is in, whether the client is starting a young family or have grown up children. This will help determine their needs in which kind of policy they require.
What is vehicle sales?
the sales or selling of vehicles
How much money can be made by selling life insurance?
Selling life insurance can be a profitable business depending on how many sales you can make and the company's commission plan. While the first few years may be rough, after sticking with it the salary can exceed $100K per year.
What visual technique used when selling?
Effective visual techniques used in selling include demonstrations and 'before and after' photos. Believable customer testimonial videos can also be a visual technique that can help lower sales resistance in potential customers.
Do you have any intangible product or service sales experience?
30 years experience selling insurance, investments, 401k packages, alternative income investments.
What are vanishing premiums?
Before it was made illegal, some insurance agents used a sales pitch for universal life insurance that suggested the premiums could vanish. The pitch went like this: You start out by putting a large, lump sum into the universal life policy. The policy has the potential for making money
