Search found 368 matches

by Rex66
Sat Mar 06, 2021 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 3
Views: 185

Re: Disability Insurance

Individual own occupation disability insurance protects a percentage of your income while you are working. Expensive but good protection. Group disability plans are cheaper and provide lesser protection.

Ltci is ver debatable. Just search the forum.
by Rex66
Fri Mar 05, 2021 6:56 pm
Forum: Personal Investments
Topic: Is my Financial Advisor's advice sound?
Replies: 55
Views: 4065

Re: Is my Financial Advisor's advice sound?

Please run
by Rex66
Fri Mar 05, 2021 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Any benefit to buying multiple insurance policies (life, LTD) from same place?
Replies: 4
Views: 206

Re: Any benefit to buying multiple insurance policies (life, LTD) from same place?

Typically u don’t want all from same company bc pricing is better otherwise but you might need home/auto/umbrella with same.
by Rex66
Thu Mar 04, 2021 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 165
Views: 7725

Re: Long Term Care Insurance

That’s not what I said

What I’m saying is that the fact that you are seeing a doctor for memory issues which is when the family history will be recorded about dementia is the factor
by Rex66
Thu Mar 04, 2021 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 165
Views: 7725

Re: Long Term Care Insurance

How do insurers know whether an applicant’s relative(s) have dementia? Some (many?) people in early phase may be in denial, and certainly may not have a “public” diagnosis. There is no “requirement” for a parent or their healthcare provider to share PHI information to child/applicant who is going t...
by Rex66
Thu Mar 04, 2021 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: TIAA annuity looks suspiciously good
Replies: 13
Views: 1497

Re: TIAA annuity looks suspiciously good

Yes but what I believe he is saying they get paid before the annuitization Sure u can leave, even better for them then I might not be getting the point you both are making, or maybe you are not getting mine. Whatever they already got paid for managing the account is in the past - sunk costs for me,...
by Rex66
Wed Mar 03, 2021 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: TIAA annuity looks suspiciously good
Replies: 13
Views: 1497

Re: TIAA annuity looks suspiciously good

Yes but what I believe he is saying they get paid before the annuitization

Sure u can leave, even better for them then
by Rex66
Wed Mar 03, 2021 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Urgent Care bill - does this seem high?
Replies: 44
Views: 2407

Re: Urgent Care bill - does this seem high?

sounds fairly cheap
by Rex66
Wed Mar 03, 2021 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Riders for the term life insurance
Replies: 17
Views: 692

Re: Riders for the term life insurance

You would have to very carefully read the rider. They are NOT giving away cheap disability insurance. I think you will find that scenarios you are considering aren’t really covered the way you think they are.
by Rex66
Wed Mar 03, 2021 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Riders for the term life insurance
Replies: 17
Views: 692

Re: Riders for the term life insurance

Yes all employer ones are inferior than individual. That’s a big reason why all individual policies are so much more expensive. Still for many work ones are the best or only choice. Personally I don’t find those riders that useful. They just accelerate your death benefit and reduce the amount by a t...
by Rex66
Tue Mar 02, 2021 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Index Universal Life for Cryonics
Replies: 38
Views: 1899

Re: Index Universal Life for Cryonics

There's a place down the street that also advertises eternal life. Not so pricey though. Unfortunately these places are popping up even though there is near zero evidence for success. Might as well expect someone to develop time machines and go back and bring all the dead forward. At least then the...
by Rex66
Mon Mar 01, 2021 5:15 pm
Forum: Personal Investments
Topic: Vanguard/Transamerica Variable Annuity Has a Guaranteed Minimum Interest Rate
Replies: 8
Views: 903

Re: Vanguard/Transamerica Variable Annuity Has a Guaranteed Minimum Interest Rate

Well what is the payout and how does that compare to a spia for the same cash value.

Since you have go annuitize according to your post, I’d look at the final numbers to see if it’s worth doing
by Rex66
Mon Mar 01, 2021 3:29 pm
Forum: Personal Investments
Topic: Vanguard/Transamerica Variable Annuity Has a Guaranteed Minimum Interest Rate
Replies: 8
Views: 903

Re: Vanguard/Transamerica Variable Annuity Has a Guaranteed Minimum Interest Rate

Rex66 wrote: Mon Mar 01, 2021 3:28 pm That rate during the income phase likely includes return of principal but it’s important to check for sure
by Rex66
Mon Mar 01, 2021 3:28 pm
Forum: Personal Investments
Topic: Vanguard/Transamerica Variable Annuity Has a Guaranteed Minimum Interest Rate
Replies: 8
Views: 903

Re: Vanguard/Transamerica Variable Annuity Has a Guaranteed Minimum Interest Rate

That rate during the income phase likely includes return of principal
by Rex66
Fri Feb 26, 2021 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care -- alternative funding method?
Replies: 5
Views: 605

Re: Long Term Care -- alternative funding method?

Nope

It’s primarily the same product annuities and permanent insurance with a little more lipstick

When I need ltc, they drain you product first and then once gone the rider kicks in for the extra you paid
by Rex66
Tue Feb 23, 2021 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care -- alternative funding method?
Replies: 5
Views: 605

Re: Long Term Care -- alternative funding method?

Pretty sure many companies do this

Hybrid plans are either annuities or permanent insurance which is either whole or universal life with a rider

Great deal for the insurance industry
by Rex66
Mon Feb 22, 2021 7:34 pm
Forum: Investing - Theory, News & General
Topic: What's Wrong with Annuities?
Replies: 150
Views: 9665

Re: What's Wrong with Annuities?

Maybe his wording seems harsh but he is correct about longevity and inflation. It isn’t completely protected in a spia. Some of that is bc insurance companies can’t protect themselves from it and still provide a product people will purchase.
by Rex66
Sun Feb 21, 2021 8:31 pm
Forum: Investing - Theory, News & General
Topic: What's Wrong with Annuities?
Replies: 150
Views: 9665

Re: What's Wrong with Annuities?

Yep There is no magic so better to take the extra from the non adjusted There is no magic product that guarantees income, guarantees keeping up with inflation and is close in price to a non inflation adjusted product Delay SS. The rest is a choice between options you want to try to manage. I may als...
by Rex66
Sun Feb 21, 2021 8:20 pm
Forum: Investing - Theory, News & General
Topic: What's Wrong with Annuities?
Replies: 150
Views: 9665

Re: What's Wrong with Annuities?

While insurance companies aren’t required to tell you how they do it, if you look at what they do publish they mostly go with bonds. Purchasing TIPs would result in less money then their bond portfolio. They aren’t going to do that exclusively. They just cap what inflation they will provide and lowe...
by Rex66
Sun Feb 21, 2021 8:08 pm
Forum: Investing - Theory, News & General
Topic: What's Wrong with Annuities?
Replies: 150
Views: 9665

Re: What's Wrong with Annuities?

since all they are doing for the most part is reducing the initial payout, i would only consider non inflation adjusted SPIAs. Why? It's true that they are reducing the initial payout to compensate, but if the risk that you're buying a SPIA for to insure against shows up (i.e., you live a long time...
by Rex66
Sun Feb 21, 2021 7:53 pm
Forum: Investing - Theory, News & General
Topic: What's Wrong with Annuities?
Replies: 150
Views: 9665

Re: What's Wrong with Annuities?

since all they are doing for the most part is reducing the initial payout, i would only consider non inflation adjusted SPIAs. I would of course first delay SS and then at that point if i wanted guaranteed income. The insurance companies only make bets that they feel they know they are going to win ...
by Rex66
Sun Feb 21, 2021 8:38 am
Forum: Personal Finance (Not Investing)
Topic: No stepped up basis for inherited annuity lump sum?
Replies: 6
Views: 512

Re: No stepped up basis for inherited annuity lump sum?

in regards to using VUL, besides all the additional costs, one has to keep in mind that in years when the market is down that the cost of insurance is sky rocket high since the cost of the insurance is based not only on age but also the difference between the death benefit and current CSV. VULs like...
by Rex66
Wed Feb 17, 2021 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Cash Value as Part of 3-fund Portfolio
Replies: 39
Views: 1777

Re: Whole Life Cash Value as Part of 3-fund Portfolio

As interest rates rise WL will lag on increased dividends

If interest rates rise quickly, WL will illustrate horribly compared to fixed

If interest rates rise slowly then harder to say
by Rex66
Wed Feb 17, 2021 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Cash Value as Part of 3-fund Portfolio
Replies: 39
Views: 1777

Re: Whole Life Cash Value as Part of 3-fund Portfolio

Certainly if u value WL returns then dividends to pua is the better approach

Keep in mind dividends buy less puas as you age so it would have been better to buy them earlier
by Rex66
Wed Feb 17, 2021 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Cash Value as Part of 3-fund Portfolio
Replies: 39
Views: 1777

Re: Whole Life Cash Value as Part of 3-fund Portfolio

The real point needs to be that agents frequently say things that give clients the false impression that they get both the CSV and the death benefit. They also frequently inappropriately over state the amount of true insurance when there is CSV. For instance they will use the word AND when talking a...
by Rex66
Wed Feb 17, 2021 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Cash Value as Part of 3-fund Portfolio
Replies: 39
Views: 1777

Re: Universal Life Cash Value as Part of 3-fund Portfolio

I think we need to really determine if this is whole life or universal WL has dividends UL has interest Fair enough. I did what I should have done in the first place and pulled out the paperwork. It is Whole Life. But, the premiums are not flat as a previous poster described with their WL policy. A...
by Rex66
Wed Feb 17, 2021 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Cash Value as Part of 3-fund Portfolio
Replies: 39
Views: 1777

Re: Universal Life Cash Value as Part of 3-fund Portfolio

Frankly if you have WL and are happy with the return then what you want to do is pay premium and have dividends set to PUAs
by Rex66
Wed Feb 17, 2021 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Cash Value as Part of 3-fund Portfolio
Replies: 39
Views: 1777

Re: Universal Life Cash Value as Part of 3-fund Portfolio

I think we need to really determine if this is whole life or universal

WL has dividends
UL has interest
by Rex66
Wed Feb 17, 2021 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Cash Value as Part of 3-fund Portfolio
Replies: 39
Views: 1777

Re: Whole Life Cash Value as Part of 3-fund Portfolio

According to the OP, it’s WL and not a UL

The actual premium for WL is fixed.

Dividends may or may not cover it in the future.

If the OP requests an illustration every few years, he can evaluate if he is happy with the return
by Rex66
Tue Feb 16, 2021 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Cash Value as Part of 3-fund Portfolio
Replies: 39
Views: 1777

Re: Whole Life Cash Value as Part of 3-fund Portfolio

You have to decide why you own “bonds”. “Bonds” for me are a rebalance tool or money I might use within a few years I don’t own “bonds” bc I desire the lower return that accompanies them. I can’t use WL as a bond for me. (Loans are very expensive over time). You can do it if you want but for me what...
by Rex66
Tue Feb 16, 2021 10:43 am
Forum: Personal Investments
Topic: annuities and retirement planning
Replies: 17
Views: 1069

Re: annuities and retirement planning

... Colleagues of mine have recommended 10-pay whole life policies to me. But the fees strike me as very large. And I also wonder if the tax policy could change over the years. I will look up old posts of Grok as well as the blog of Stan the Annuity Man to educate myself. If you buy both life insur...
by Rex66
Tue Feb 16, 2021 10:42 am
Forum: Personal Investments
Topic: annuities and retirement planning
Replies: 17
Views: 1069

Re: annuities and retirement planning

It’s bc it’s more transparent All the other products purposely make it tougher to see what you get Even with a spia, they report a return that includes return of principal and that can confuse some Just bc a spia is a better product , you should only purchase if u want or need the insurance it provi...
by Rex66
Sun Feb 14, 2021 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

Hopefully you are not paying monthly (forced savings) bc they charge extra vs paying yearly.

Request an inforce illustration and see if you like the illustrated returns
by Rex66
Sun Feb 14, 2021 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Recommend a Life Insurance Company
Replies: 18
Views: 1236

Re: Recommend a Life Insurance Company

U need an independent agent

Picking a specific company ahead of time is a mistake

Some use term4sale to find one

I think brudude on this site is one as well
by Rex66
Sat Feb 13, 2021 2:32 pm
Forum: Personal Investments
Topic: Annuity to replace CD
Replies: 35
Views: 5391

Re: Annuity to replace CD

I wouldn’t call that good
by Rex66
Sat Feb 13, 2021 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Equity Indexed Annuities
Replies: 143
Views: 13469

Re: Equity Indexed Annuities

Your unlikely to be happy with such a purchase These products will perform slightly better or slightly worse than a regular annuity bc instead of 100% invested in the insurance company general fund, 98% is and 2% used for option purchases. All the other factors are smoke and mirrors. In regards to t...
by Rex66
Sat Feb 13, 2021 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 209
Views: 8059

Re: Long Term Care Insurance

Actuaries have been completely wrong to date on ltci. Even the rate stabilization rules haven’t 100% worked and that’s after including all the previous increases. When u see companies like penn treaty and genworth though you have to wonder if management searched until they found actuaries who agreed...
by Rex66
Thu Feb 11, 2021 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

With WL you can only partial surrender the part that’s paid up additions. After that loans. So on a standard policy not a lot of room.

UL is different
by Rex66
Thu Feb 11, 2021 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

This is from NWML on how they calculate and report the annual changes in cash value of the policy https://www.northwesternmutual.com/how-we-determine-dividends/ This is a useful page, but they actually DON'T report on your policy this way. :annoyed That's why you have to work backwards and figure o...
by Rex66
Thu Feb 11, 2021 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

I know all about my 12 year old policy
I’ve already listed several times what the guaranteed and illustrated returns are
by Rex66
Thu Feb 11, 2021 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

Is Whole Life an option for a parent that has a child with cancer? Our son is almost 3 and is now cancer free so we are picking up the pieces. One of those pieces is setting him up for success and security, and I have no doubt he will struggle to get life insurance when he is older. I'm sorry for y...
by Rex66
Thu Feb 11, 2021 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

come on now, of course i thought you were calculating the dividend. thats the conversation that was being had. Your plan is very reasonable. Its funny bc people wrongly say that WL always improves with age. As you have figured out that isnt true. If you look at enough illustrations, you will see aro...
by Rex66
Thu Feb 11, 2021 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

With WL they don’t have to tell you anything that matters. That's true, however you can derive it from the values that you know. Your interest credit is your previous year's cash value, plus your premium, minus the unknown M&E charge, times the dividend rate. (They won't put the dividend rate o...
by Rex66
Thu Feb 11, 2021 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

Those even older policies actually are just an okay deal. Keep in mind the ones at that time had 30 treasuries with double digit so in perspective just okay and they are continuing to drop all the time. It likely still is okay at the moment compared to CDs or whatever bond like instrument but only t...
by Rex66
Wed Feb 10, 2021 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

They are separate but many of the considerations are the same. An UL policy is like a WL with the innards exposed. Both have guaranteed returns, guaranteed costs of insurance. If you pay the premiums to keep both in force, neither will lapse. I don't know what the 3% in the name means for your WL p...
by Rex66
Wed Feb 10, 2021 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

Tell you what I’ll send u a copy of illustration my own WL Says guaranteed 3% even in the name Major mutual, best rate class etc. i actually had them do the IRR. At true guaranteed it’s like 1.8% on the death benefit and less on the csv if I die at say 90 (appropriate given rating and hx). That isn’...
by Rex66
Wed Feb 10, 2021 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

The premiums for ULs is not fixed Yes if you pay the amount that is based on guaranteed interest and guaranteed cost of insurance, it will not implode For ULs there have been policies where it would never lapse based on original cost of insurance projections. These people paid plenty. Not underfunde...
by Rex66
Tue Feb 09, 2021 6:06 pm
Forum: Personal Investments
Topic: Short Term Annuities vs CDs
Replies: 6
Views: 407

Re: Short Term Annuities vs CDs

You have to be comfortable locking up your money for a few years bc the penalties are severe.

You have to understand it’s not fdic insured. If choosing a highly rated, then pretty safe for a few years.

For some it’s worth the juice. Others will stick with tried and true approaches.
by Rex66
Tue Feb 09, 2021 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

here is just the first one i found via google but there are tons

https://insurancenewsnet.com/oarticle/w ... ce-charges
by Rex66
Tue Feb 09, 2021 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 100
Views: 5023

Re: Whole Life Insurance

Yes but the guaranteed cost of insurance is crazy high. It wipes out the gains. They can increase up to the max without notification. There are several articles out there about this issue. Lots of old people ticked off bc the policies are now imploding. Again easier to see with ULs. Its a relatively...