Current Policy Holder & Prospective Agent

Sunday, January 13, 2013
Quote:






Originally Posted by celloshred
(Post 635366)

It's a "Term 80", in force until aged 80. Although I dont see why I need term until that age unless it was really cheap, to leave an estate. NWM shows a 'non-guaranteed scheduled contract premium" as well as a "guaranteed max'. Cheaper than a straight term for the first few years (about 10 years, non-guaranteed premiums) but their MAX gets expensive around year 6. They claim that they have never had to go to their guaranteed returns.

Why would they suggest it over a straight term?

1. can convert to whole life up to age 65 without new medical
2. pays some dividends (although on my existing $300k, I see like $3/m)
3. being that its cheaper for the first few years, they say in this time period i would start to convert some to whole-life. but really, how much of a $1.2m (or more) policy would I convert to whole life anyways, being ill be in my early 40's.

Cant remember the rest of their selling points, but the more I research, other than converting I don't see what the benefits would be.

Does anyone ever convert or get a whole life in their 60s?

Whats the general sentiment of NWM, why are they bad? I went to one of their quarterly meetings and they were talking about compensation and all these bonus tiers and retirement stuff. Pretty impressive, but you have to think where the money comes from....





I have will reply to your email this morning.

Lee

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