kggonzo - 2/3/2014 12:17

I'm an agent. Let me tell you about a situation I just started working on for a customer.

I have a customer that just purchased a farm, and took on a million in debt. His balance sheet is solid, but still took on a million in debt. He has NO life insurance at all. He is 60 yrs old and now wants some to cover the debt. Even a 10 yr term is out of this world expensive. This is a reason to consider a permanent product like whole life, or universal life at a young age, or even as in infant.

Most universal life products will allow 0% loans from the cash value.[/QUOT

He gained a dept but also has some asset

the person getting the land will also get a asset

but it is a roll of dice to see if he lives a month or 15 years the premium to pay back is a huge difference