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SVTPerformance's Chain of Restaurants
Road Side Pub
Whole life insurance
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<blockquote data-quote="Ohio Snake" data-source="post: 15905931" data-attributes="member: 157862"><p>A poorly written policy can be junk. The majority of life contracts are not considered as an investment. They are considered as life insurance. The rate of return is totally dependent on the crediting method ( fixed, fixed indexed or variable) and the cost of insurance based on the insured underwriting. </p><p></p><p>I am an investment advisor and do recommend various types of life contracts to clients if the product serves a particular need or goal. Most policies utilized are term insurance to cover debt or income. Permanent policies are typically utilized to transfer wealth, while complex policies are used for tax strategies on income. </p><p></p><p>Lets talk commission for life insurance. First and foremost, commissions are carrier established, not advisor established. Some term policies can pay commissions in excess of the first year premium ( highest I’ve seen is 125%) Typically, term policies give the best bang for the buck yielding a higher death benefit sale and potentially high commission. The volume of term insurance sales commissions can be yield high compensation. When your term expires and you need to replace it...another commission sale for the agent.</p><p>Permanent policies have reduced target commissions typically 45% to 75% of the first year premium ( can be reduced further for age 70 or older). For the High Net Worth individual, the tax savings the policy provides far outweighs the commission generated to the agent.</p><p>A good advisor will shop various carriers for the best policy which fulfills the need of the client. Sounds to me you may have had a bad experience with an agent or sold a policy not suitable for what you were trying to accomplish. Granted, there are scrupulous agents out there.</p><p></p><p></p><p></p><p></p><p></p><p>Sent from my iPad using Tapatalk</p></blockquote><p></p>
[QUOTE="Ohio Snake, post: 15905931, member: 157862"] A poorly written policy can be junk. The majority of life contracts are not considered as an investment. They are considered as life insurance. The rate of return is totally dependent on the crediting method ( fixed, fixed indexed or variable) and the cost of insurance based on the insured underwriting. I am an investment advisor and do recommend various types of life contracts to clients if the product serves a particular need or goal. Most policies utilized are term insurance to cover debt or income. Permanent policies are typically utilized to transfer wealth, while complex policies are used for tax strategies on income. Lets talk commission for life insurance. First and foremost, commissions are carrier established, not advisor established. Some term policies can pay commissions in excess of the first year premium ( highest I’ve seen is 125%) Typically, term policies give the best bang for the buck yielding a higher death benefit sale and potentially high commission. The volume of term insurance sales commissions can be yield high compensation. When your term expires and you need to replace it...another commission sale for the agent. Permanent policies have reduced target commissions typically 45% to 75% of the first year premium ( can be reduced further for age 70 or older). For the High Net Worth individual, the tax savings the policy provides far outweighs the commission generated to the agent. A good advisor will shop various carriers for the best policy which fulfills the need of the client. Sounds to me you may have had a bad experience with an agent or sold a policy not suitable for what you were trying to accomplish. Granted, there are scrupulous agents out there. Sent from my iPad using Tapatalk [/QUOTE]
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SVTPerformance's Chain of Restaurants
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