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  1. #1
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    Equity Index Life Insurance Products

    In doing some research to try and find the best ways to leverage my investment property I came across this. I'm a CPA and feel like I have a good concept of most financial products, but this one threw me for a loop. I'm not even going to try and explain what I think it is.....can anyone enlighten me?



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    Re: Equity Index Life Insurance Products

    Quote Originally Posted by Ficklone02 View Post
    In doing some research to try and find the best ways to leverage my investment property I came across this. I'm a CPA and feel like I have a good concept of most financial products, but this one threw me for a loop. I'm not even going to try and explain what I think it is.....can anyone enlighten me?
    I am a CFP & have a master's degree in financial planning-answer to ei producs=no.

    Only caveat is if doing estate planning, and have a need for perm policy, and the assumption has a no lapse provision. These things have to many moving parts and far to little disclosure. They are great for the guy selling them-rarely good for the client.


    As far as depth goes though, the combination of White, Woodbury, Olaseni, Basabe, and Uthoff is much better than Niang, Ejim, Edozie, Gibson. Not because of the top 2, but because of the next 2 or 3. -DeanVogs

  3. #3
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    Re: Equity Index Life Insurance Products

    Quote Originally Posted by jmb View Post
    I am a CFP & have a master's degree in financial planning-answer to ei producs=no.

    Only caveat is if doing estate planning, and have a need for perm policy, and the assumption has a no lapse provision. These things have to many moving parts and far to little disclosure. They are great for the guy selling them-rarely good for the client.
    Thanks. As a matter of policy, it seems that if there are to many moving parts.....the salesperson is probably doing better on it than you are.



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    Re: Equity Index Life Insurance Products

    Quote Originally Posted by jmb View Post
    I am a CFP & have a master's degree in financial planning-answer to ei producs=no.

    Only caveat is if doing estate planning, and have a need for perm policy, and the assumption has a no lapse provision. These things have to many moving parts and far to little disclosure. They are great for the guy selling them-rarely good for the client.
    You couldn't be any farther from correct here. Myself and my family each has a policy and it is doing absolutely fantastic. I've had mine since '03. It's funny how people are getting destroyed in the markets, 401k, etc., and the things that are doing well are black-balled. Keep preaching the dream brother!



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    Re: Equity Index Life Insurance Products

    Quote Originally Posted by SC Cy View Post
    You couldn't be any farther from correct here. Myself and my family each has a policy and it is doing absolutely fantastic. I've had mine since '03. It's funny how people are getting destroyed in the markets, 401k, etc., and the things that are doing well are black-balled. Keep preaching the dream brother!
    until you know what i am preaching you may want to slow your roll. But hey I here ignorance is bliss.


    As far as depth goes though, the combination of White, Woodbury, Olaseni, Basabe, and Uthoff is much better than Niang, Ejim, Edozie, Gibson. Not because of the top 2, but because of the next 2 or 3. -DeanVogs

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    Re: Equity Index Life Insurance Products

    Quote Originally Posted by SC Cy View Post
    You couldn't be any farther from correct here. Myself and my family each has a policy and it is doing absolutely fantastic. I've had mine since '03. It's funny how people are getting destroyed in the markets, 401k, etc., and the things that are doing well are black-balled. Keep preaching the dream brother!
    Can you describe how this worked well for you? Like I said, this product is rather confusing.



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    Re: Equity Index Life Insurance Products

    If you want to pay some insurance rep 9-10% commission, then a EIA is a great investment.

    They are not the worst product in the world, just understand that you can't touch the money for a LONG time 7-20 years depending on the product. Don't expect unbelievable returns - they typically have a ceiling of much of a return you can get and a ceiling on how much you can loose in a year.

    Depending on your age and suitability, you probably can find some better investments



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    Re: Equity Index Life Insurance Products

    Quote Originally Posted by SC Cy View Post
    You couldn't be any farther from correct here. Myself and my family each has a policy and it is doing absolutely fantastic. I've had mine since '03. It's funny how people are getting destroyed in the markets, 401k, etc., and the things that are doing well are black-balled. Keep preaching the dream brother!
    With an equity indexed product?


    Exaggeration is a BILLION times worse than understating.

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    Re: Equity Index Life Insurance Products

    Just go get yourself a whole life policy. They are rather simple. You can have a cash draw option. It's almost impossible for them to ever lapse. You can add term on to it at any point. Not a bad product for the long hall. I am in Insurance so I know this stuff. I don't know the product you are talking about very well.
    If you are risky you might want to get a Variable Annuity. If you are not you can go with a fixed. Pretty simple concepts with those two also.



  10. #10
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    Re: Equity Index Life Insurance Products

    I'm an insurance agent so I do have some knowledge on what you're talking about. I'm not SEC licensed though.

    If you're talking about EI annuities, I would stay away. In most cases, they are not sold properly (truthfully). Here is one article:
    SEC to regulate equity-indexed annuities | DesMoinesRegister.com | The Des Moines Register

    Simply put:
    Aggressive= Variable annuities and Variable UL
    Conservative= fixed annuites and whole life

    Of course, I'm not sure what exactly you want to do with your money. I would talk to a couple insurance agents and financial advisors. See what suits you the most.



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    Re: Equity Index Life Insurance Products

    Quote Originally Posted by Knownothing View Post
    Just go get yourself a whole life policy. They are rather simple. You can have a cash draw option. It's almost impossible for them to ever lapse. You can add term on to it at any point. Not a bad product for the long hall. I am in Insurance so I know this stuff. I don't know the product you are talking about very well.
    If you are risky you might want to get a Variable Annuity. If you are not you can go with a fixed. Pretty simple concepts with those two also.
    There are also VA's with guaranteed components to them now.


    Exaggeration is a BILLION times worse than understating.

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    Re: Equity Index Life Insurance Products

    The really big difference between an EI product and a regular life insurance policy is that the insurance company is transferring the investment risk from themselves to the consumer. That is really the only difference.

    I think EI are usually good deals if you are in it for the long term (20 + years) as it is a forced savings vehicle while providing life insurance protection.



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    Re: Equity Index Life Insurance Products

    Good topic here...
    My parents recently had a guy (advisor they met through my fathers work) try to sell them on one of these basically was pushing hard for 50k+ to put into one. They asked me about it and I had no clue what it was...but the guy kept pushing my parents hard saying it was the one of the safest way to go before retirement (they are 60). I told them to tell this guy to take a hike anyone putting the screws to them that hard cant be trusted.

    So would this be good for 2 near retirees? Thx...this is why I love this site.



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    Re: Equity Index Life Insurance Products

    but the guy kept pushing my parents hard saying it was the one of the safest way to go before retirement (they are 60). I told them to tell this guy to take a hike anyone putting the screws to them that hard cant be trusted.

    So would this be good for 2 near retirees? Thx...this is why I love this site.
    My opinion would be for your parents to just get a fixed annuity. It's not risky and the risk actually is on the insurance company that sells them the annuity.



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    Re: Equity Index Life Insurance Products

    Quote Originally Posted by Knownothing View Post
    My opinion would be for your parents to just get a fixed annuity. It's not risky and the risk actually is on the insurance company that sells them the annuity.
    I haven't used fixed for a while. What is the interest on those right now?


    Exaggeration is a BILLION times worse than understating.

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