Someone sold me a trans America policy, $181 monthly, she emailed me just 1 page to sign and accept the policy. She didn't give me no contract or papers showing my policy benefits. She only explained to me few weeks ago the benefits that were so interesting that money will grow, I can borrow money even $40/50 000 first year, in 5 years I can withdraw some money from my policy. I think she was misleading me about Trans America life insurance. Her explanation is by mouth and a slide on her laptop
Wait, what if the client only really wanted $1M death benefit policy, why are you looking at the cash value, if that wasn't the primary intent of the client?
If someone's goal is the protection instead of cash value, would the first design still be considered bad? For example, if a 30 year old male makes $100K/yr and has a wife and 2 kids under 18. Protection would be their primary focus because of his family
Good question, but that was not the goal of this person & this policy. If protection is the ONLY goal, the 30yr old should look at Term insurance as it is much more cost effective way to get death benefit.
@@CashValueLifeInsuranceReviews Let me add that protection + a retirement income stream is his goal. Once the kids grow up, he'd like to borrow against the Cash Value as a retirement supplement
Why are you should a policy structured at 1M face and only putting 1k a month? Of course it's going to look bad. But maybe the client needed life insurance instead of only cash value
I’m regretting about buying IUL. I have no cash value and they charge me every month almost 1/2 of my monthly premiums. I cancel my policy cause I did not see any growth. Transamerica is the worst company for insurance.
Someone sold me a trans America policy, $181 monthly, she emailed me just 1 page to sign and accept the policy. She didn't give me no contract or papers showing my policy benefits. She only explained to me few weeks ago the benefits that were so interesting that money will grow, I can borrow money even $40/50 000 first year, in 5 years I can withdraw some money from my policy. I think she was misleading me about Trans America life insurance. Her explanation is by mouth and a slide on her laptop
If you have left your job and you no longer want the policy what should you do?
Wait, what if the client only really wanted $1M death benefit policy, why are you looking at the cash value, if that wasn't the primary intent of the client?
What happens to the cash surrender money if someone passes away and you use the increasing to level on death benefit ?
The original design doesn’t break even until the surrender period is up. They didn’t use the min-nonmec solve option. I see it all the time.
What about their WL product for CV accumulation? Any opinion?
The Lifetime WL? For CV accumulation? No.
@@CashValueLifeInsuranceReviews did my own research.. not even a mutual company
If someone's goal is the protection instead of cash value, would the first design still be considered bad?
For example, if a 30 year old male makes $100K/yr and has a wife and 2 kids under 18. Protection would be their primary focus because of his family
Good question, but that was not the goal of this person & this policy. If protection is the ONLY goal, the 30yr old should look at Term insurance as it is much more cost effective way to get death benefit.
@@CashValueLifeInsuranceReviews Let me add that protection + a retirement income stream is his goal. Once the kids grow up, he'd like to borrow against the Cash Value as a retirement supplement
Why are you should a policy structured at 1M face and only putting 1k a month?
Of course it's going to look bad.
But maybe the client needed life insurance instead of only cash value
Guess what, everyday everyone gets a company life ins policies from other company to review lol
I have exactly the same problem and I'm concerned by it
How did you determine that just 200k death benefit was ideal for that person?
They knew the premium they could afford and wanted a Max Funded / Max Cash Accumulation design. This will lead you to the right DB.
I’m regretting about buying IUL. I have no cash value and they charge me every month almost 1/2 of my monthly premiums. I cancel my policy cause I did not see any growth. Transamerica is the worst company for insurance.
We are so sorry to hear this. It's why we keep making videos in the hopes to educate and inform to prevent this from happening.
thank you for this breakdown -
You're welcome! Glad you found our channel!