Advertisement

Author Topic: the life insurance hmong people like to sell is call indexed universal life  (Read 807 times)

0 Members and 1 Guest are viewing this topic.

Offline hmgROCK

  • Sr. Poster
  • ****
  • Posts: 7696
  • Respect: +92
    • View Profile
a lot of hmong people try to sell this life insurance
it basically like a whole life insurance
but tie to the market

you still get your money policy if you die and until you die
and it gain cash value as it age depending on how the market is doing

you can take out those cash value if you need it pay bill and stuff
or take it all out and leave the policy if you like once you reach a certain age

it's like a cheap investment(401k)+life insurance at the same time

as with all life insurance, get it while you are young
less expensive
ive been playing $20 for a $100k for many years now long time ago


so $20 (per month) X 12 (month)= $240 per year
$240 (per year) x 70 (years)= $16,800 (estimate payment base on average lifespan)
$100,000-16,800= $83,200 ( they paid you a return to your kids) and your $16,800

life insurance is almost like an investment for your kids
i think it's pretty decent, you deal with market


lol


« Last Edit: May 26, 2017, 11:11:37 AM by hmgROCK »

Like this post: 0
God did not created man...man created god

Adverstisement

Offline hmgROCK

  • Sr. Poster
  • ****
  • Posts: 7696
  • Respect: +92
    • View Profile
this is just a general idea
but it basically the same idea
some stuff might vary



Like this post: 0
God did not created man...man created god

Offline hmgROCK

  • Sr. Poster
  • ****
  • Posts: 7696
  • Respect: +92
    • View Profile
the good thing about this policy is
once the policy hit a certain age

you can take out the money and spend it on yourself
it will be less

for example: my $100k policy if i decided to take it out and spend it on myself, i think it's like $70k
if my future kids turn out to be brat, i might have to do this




Like this post: 0
God did not created man...man created god

Offline hmgROCK

  • Sr. Poster
  • ****
  • Posts: 7696
  • Respect: +92
    • View Profile
again, the thing with these life insurance as always
is start young
so you get low premium

i had mine when i was in my teens



Like this post: 0
God did not created man...man created god

Offline Hung_Low

  • Sr. Poster
  • ****
  • Posts: 6003
  • Gender: Male
  • Respect: +102
    • View Profile
a lot of hmong people try to sell this life insurance
it basically like a whole life insurance
but tie to the market

you still get your money policy if you die and until you die
and it gain cash value as it age depending on how the market is doing

you can take out those cash value if you need it pay bill and stuff
or take it all out and leave the policy if you like once you reach a certain age

it's like a cheap investment(401k)+life insurance at the same time

as with all life insurance, get it while you are young
less expensive
ive been playing $20 for a $100k for many years now long time ago


so $20 (per month) X 12 (month)= $240 per year
$240 (per year) x 70 (years)= $16,800 (estimate payment base on average lifespan)
$100,000-16,800= $83,200 ( they paid you a return to your kids) and your $16,800

life insurance is almost like an investment for your kids
i think it's pretty decent, you deal with market


lol

You forgot to mentioned that unlike 401k, if you take out the money it's not taxed because you are borrowing it like a loan. If you don't pay back, when you die they'll just deduct that from your policy.



Like this post: 0
- Maxi pad not greatest thing on earth but next to it.

 

Advertisements