Universal Life Insurance, $240 / month, worth it?
Is getting Universal Life Insurance good for my mom?
She got a quote from a WFG rep, the coverage is $500k,
and the monthly payments is $240 / month, for 10 years
The rep said it's good because we are investing at the same time
and we can withdraw the earnings after the 10 year finishes.
She said the earnings will be %6, and she said we would be able to withdraw
%60 of how much we spent, so %60 of ($240*12*10).
It seems like a good deal, but I'm quite weary as the rep makes a commision,
and may not tell us the whole story.
My mother is 40, and the rep said we should do this as soon as possible,
as the life insurance will keep getting priceir in the future.
Any advice is appreciated thanks
She got a quote from a WFG rep, the coverage is $500k,
and the monthly payments is $240 / month, for 10 years
The rep said it's good because we are investing at the same time
and we can withdraw the earnings after the 10 year finishes.
She said the earnings will be %6, and she said we would be able to withdraw
%60 of how much we spent, so %60 of ($240*12*10).
It seems like a good deal, but I'm quite weary as the rep makes a commision,
and may not tell us the whole story.
My mother is 40, and the rep said we should do this as soon as possible,
as the life insurance will keep getting priceir in the future.
Any advice is appreciated thanks
"The trouble is, if you don't risk anything, you risk even more."
Erica Jong
Erica Jong