From my understanding if you put money into IUL it gets put into s&p 500 and your able to pull a loan of it for any other investments such as real estate am I correct?

Need to sign up for some insurance real quick like specifically just to fill out some paperwork. Located in the USA. Anyone have any suggestions?

Hello All,

I mistakenly gave my incorrect weight in my Transamerica Term application, it was a typo and wrote my weight is 8 pounds less. The policy is approved already, they have not deducted the premium yet. I just noticed my mistake today when i was going through my dictors after visit summary, the visit was about 2 weeks before the applicaiton.

I would assume they had access to my doctors visit records and would know my correct weight anyway. Is that not the case?

Can someone advise what shall i do next? Can I contact them and will they fix it even after the policy is approved? The new weight would put my BMI in mid 29 wheras the old weight would put my BMI in mid 28. I am okay if they want to increase the premium.

I just dont want to be that guy who gave the wrong weight and later on if god forbid my family needs to claim, the insurace company rejects the claim saying i gave the wrong weight in my application. Can they reject in this case if it is after the 2 year statuatory period has passed?

Thank you.

Just got denied for term life by Ethos because I had pre-eclampsia and insulin dependent gestational diabetes in my two pregnancies. I am done having children and also healthy. What is the reasoning and how do I go about getting term life to protect my family?

Long story short after my father passed away last month Im shopping for life insurance. Im an obese 38 year old male with Schizoaffective Disorder, former smoker ocassional drinker and recent marijuana user.

My father died July 7th and before I left the town his family stayed in my cousin gave me a cellophane wrapper full of marijuana to help me manage depression and calm my nerves. I smoked heavily for about a week until it agitated my mental illness symptoms and I had to quit.

I just called my potential insurer and they said since I answered all their questions truthfully I dont have to answer a second set of questions but I do need to do blood testing urine testing and a vital check.

I am a big guy due to my meds so I bought a drug panel and even after a month I'm still testing positive for thc.

And i screwed or the fact that I told them that I had smoked recently do me any favors?

Due to certain reasons, we are transferring my moms Life Insurance policy ownership to me.

i was wondering exactly what this entails? the person we are working with are of no help and keeps trying to sell other products to us and not really answering our questions. And frankly speaking, I personally do not trust them at this point.

how does this work and what does it exactly mean?

For those of you who use inbound call leads, what vendor do you use and what has your experience using inbound leads been like? It seems like there are a plethora of different vendors to choose from.

Hi everyone, adulting question here:
My wife and I are expecting our 2nd kiddo soon, I’m in Tech and she owns her own private practice. I had the thought, if we have a combined income of north of $300K/yr, getting enough coverage for our family to be set should one of us pass seems like an eye-popping number like >$10M. I haven’t done the precise math yet, but to have enough for our family to replace one or both incomes and get kiddos through college seems like a lot now.

How have yall managed this, if you’ve even thought about it? For what it’s worth, we’re renting, so I’d be guessing at what our living costs would be there. Thanks in advance.

My husband (30m) and I (32f) just got married a few weeks ago and are debating whether to do a universal policy, 30 year term with a conversion rider, or just a 30 year term. We are looking at working with Penn Mutual because a family friend works with them and we know they offer the option to convert from term to universal in the future if we decided we wanted to do that. (Though we are open to other recommendations as well.)

We'd at least want $500K to pay off the house, but have no other outstanding debts and if the house was paid off each of us could live off our single salary. We don't currently have kids but might consider having 1-2 in the next 5 years so we might potentially want to add an additional policy in the future or do a bit more than the $500K.

Can anyone give us a rough estimate of what each policy might average per month? I have no idea what we should be budgeting for or what to expect as far as payments go. (I do know my mom has a whole life policy for $140 per month but has had it since before I was born.) My husband is healthy and only has an ADHD diagnosis. I have ADHD and 2 autoimmune diseases (Hashimoto's that is well managed on meds and Sjogren's that is almost dialed in on meds) so I know that complicates things for me a bit more. I don't drink, he drinks occasionally. We're in the Salt Lake City, UT area.

Looking to know monthly ranges for:

$500K, 30 year term

$500K, 30 year term with conversion rider

$500K, whole life

$1M, 30 year term

$1M, 30 year term with conversion rider

$1M, whole life

Would also appreciate any other recommendations you have if there are other things we should consider!

Edit: I have Universal life not whole life insurance and I appreciate all that have commented with info, advice, and things for me to consider for when I talk with the company about options.

I acquired a whole life insurance policy 5 years ago before I knew anything about anything (I still dont know much but reading and learning) trusting the advice of a "friend of a friend" that this was to provide death benefits as well as a **wealth building tool**. Im paying 400 a month for 500k. I dont necessarily need the life insurance as I have SBP for my spouse and he also is retired military and has his own pension and VA disability to cover expenses if i were to pass. My current total cash value in the policy is 16k. Should I

1. Pay the surrender charge of 7k and take the net cash out and invest that along with the 400 a month
2. See if a reduced paid up option is doable
3. Let it ride and keep paying the 400 a month for a guaranteed 500k to dependents upon death.

I am 45 years old.

My dad recently had a stroke and I'm looking into getting him eligible for Medicaid (in Florida) as he'll need home care. He doesn't have any assets other than his whole life plan insurance at 50k. What are best available options?

Also: my mom has assets (they're married) but I'm not sure if that affects his eligibility. Thanks for any advice!

Hey everyone! I just had my medical exam for a million dollar life insurance policy last week. I just got my rating and they accepted me at a standard rating. The reason for my rating is because I am an absolute idiot and was out with friends the night before and had drinks (first time post partum and out with friends). I totally forgot that I had the medical exam. I’m irritated that I was accepted at standard as all of my bloodwork came back great. I am a healthy BMI/weight as well with no family history of anything. I’m not sure if there is a way to appeal this type of thing? Or should I just re do the exam…? I’m upset with myself because I’m in the best health I have ever been, yet that came back elevated and it made an impact on my rate! :( Is this normal to have this make an impact on my rating for just this one thing?

Hey everyone! I just had my medical exam for a million dollar life insurance policy last week. I just got my rating and they accepted me at a standard rating. The reason for my rating is because I am an absolute idiot and was out with friends the night before and had drinks (first time post partum and out with friends). I totally forgot that I had the medical exam and my liver enzymes were high. I’m irritated that I was accepted at standard as all of my bloodwork came back great. I am a healthy BMI/weight as well with no family history of anything. I’m not sure if there is a way to appeal this type of thing? Or should I just re do the exam…? I’m upset with myself because I’m in the best health I have ever been, yet that came back elevated and it made an impact on my rate! :( Is this normal to have this make an impact on my rating for just this one thing?

Hello, I'm 59 but know nothing about life insurance. I was wanting to get a policy before I turn 60 to leave my two kids something and to pay for cremation. I'm wondering what the most reputable life insurance company is for Guaranteed Universal Life, that also has the lowest premiums. Ty

To begin i take 100% responsiblity for my failure, I took my LH and accident 17-55 exam this evening on my laptop proctored online (not the best idea), someone called me during it and i failed. I got my results i got below a 60 but had 10-15 questions left to answer at termination of my exam. i clearly failed, i used chatgpt to help me prepare and it failed, a lot of missed topics as well as unreviewed coverage of certain things. I used XCEL for the exam pre licensing course but didn't really read the actual readings or quizzes or practice ones, as my employer whom covers it told me i only needed to get the chapter reviews or the study guide stuff. Any advice on how I can do better or what i should do going from here?

traditional policy, for cola, does that continue to increase the benefit while on claim?

As an agent who has spent over a decade teaching agents about annuities, one thing I see a lot with annuities is people getting focused on the biggest number in the presentation.

“20% bonus.” “10% guaranteed roll-up.” “Guaranteed income growth.”

Those numbers sound great, but by themselves they really do not tell you much.

If the goal is retirement income, the better question is simple, how much income does this actually pay me? That is what matters.

3 numbers I find important to look at

Most income riders come down to three things:

1. Your starting income benefit base
2. Any bonus or roll-up that increases that benefit base
3. The payout rate

That third one gets overlooked all the time by agents (which leads to clients not knowing either). And it can completely change which annuity is actually better.

First, the income benefit base is not your cash value (account value)

This is probably the biggest thing people misunderstand.

Say you put $1,000,000 into an annuity and it gives you a 20% income bonus.

Now your income benefit base might show $1,200,000. That does not usually mean you can cash out $1.2 million. It means the insurance company is using $1.2 million as the number to calculate your future income from.

So when someone says: “You got a 20% bonus.” The next question should be “Okay, what does that actually pay me?”

Same thing with the roll-up rate

Let's say the annuity has an 8% guaranteed roll-up. That can sound like the account is earning 8%. Usually, that is not what is happening because the 8% may only be growing the income benefit base.

So your actual account value could be one number, while your income benefit base is a completely different number.

Again, that is not necessarily bad.

You just need to know what the number actually means.

The payout rate is where it all comes together

Here is a simple example.

Annuity A:

$1,000,000 income benefit base
6% payout rate

This gives you: $60,000 per year

Now look at Annuity B:

$1,000,000 deposit
20% income bonus

Now the income benefit base is: $1,200,000... Sounds better so far.
But the payout rate is only 4%.

$1,200,000 x 4% = $48,000 per year

So, the annuity with the big 20% bonus actually pays $12,000 less per year.

That is why I do not get too excited about bonuses by themselves.

Bigger income base does not always mean more income

Here is another example.

Annuity A:
$1,500,000 income benefit base
4% payout
Income = $60,000 per year

Annuity B:
$1,250,000 income benefit base
5.5% payout
Income = $68,750 per year

The second annuity has a smaller benefit base, but it pays more actual income.

That is the number I care about.

Look at the total payout too

I also like looking at how much income someone could receive over time.

If one annuity pays $60,000 per year and another pays $48,000 per year, that difference adds up.

Over 20 years:
$60,000 x 20 = $1,200,000
$48,000 x 20 = $960,000

That is a $240,000 difference in total income.

Suddenly that big upfront bonus does not look quite as important.

The easy way to think about it

When comparing annuity income riders, do not just ask “What is the bonus?” or “What is the guaranteed roll-up rate?”

Ask “What will my income benefit base be when I start taking income?”, “What payout rate applies at that age?”, “And what does that actually pay me every year?”

That gets you much closer to the real answer.

There are still other things to compare

Income is important, but it is not the only thing.

You still want to look at things like:

• single vs joint income
• when you plan to start income
• rider fees
• surrender period
• liquidity
• account value
• death benefit
• whether income can increase
• what happens if you take extra withdrawals

But if the whole reason you are buying the annuity is for guaranteed retirement income, then the actual income amount should probably be pretty high on the list.

Please just remember

• A bigger bonus does not automatically mean a better annuity.
• A bigger roll-up rate does not automatically mean a better annuity.
• A bigger income benefit base does not automatically mean a better annuity.
• What matters is what all of those numbers turn into when the income starts.
• Benefit base x payout rate = actual income.

That is the number worth comparing.

Educational discussion only, as there are many factors by carriers, states, client age etc. All of the annuity income riders, bonuses, roll-up rates, payout rates, fees, and guarantees vary by company and contract.

I am a 36 yo male In good health - I’ve wanted to get life insurance for several years but waited as I was diagnosed with testicular cancer in 2022. I had the least severe kind which was removed and have had clear follow ups since.

I applied for a policy and had a nurse come out and check my vitals. Everything seemed good but I was denied due to my drug history. I had a drug (opiate) problem in my early 20s and have been clean for 13 years. I was under the impression this was enough time. I do use THC periodically (edibles) but I disclosed this also.

I recently requested a copy of my MIB report but still Waiting on that. I figured I might get denied due to the cancer history but wasn’t expecting this to be an issue 13 years later.

Are their companies that are more forgiving?