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Recently just had our 1st child: Next up, Life insurance! Help please!
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Bill Moyer
Posted 2/3/2014 22:10 (#3660632 - in reply to #3660557)
Subject: Re: Recently just had our 1st child: Next up, Life insurance! Help please!



Coldwater, Michigan		Do you understand the time value of money?

I'm not looking at your policy, so I don't know what your policy says/Guarantees. The quote was what the FTC had to say about "over charges", not me.

However, I would bet that if you understood your policy, and the associated charges, you would probably have a hard time receiving $55,000 from it. Don't know because I haven't seen your policy. However, I have seen many "Whole Life/Universal Life" products and there are some real interesting items in them to understand.

If you could borrow the $55,000 from the policy are you aware if you have borrowed it and you die, your family/heirs will only get $100,000 from the policy? Or if you canceled the policy to get the $55,000 you would no longer have the insurance (of course).



Edited by Bill Moyer 2/3/2014 22:12
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