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Re: Insurance "investments" in retirement planning?

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@em15971653 wrote:

Well I'll try this question / issue here.

 

I'm finding a lot of retirement seminars in my area are pitches to find customers for insurance products.

Now I'm not implying that there's not a place for insurance.  But I find these seminar leaders are very cagey about discussing these "investment / insurance" products.  They don't seem to want to point people to educational resources.

This I find very suspicious.

So I'm wondering if people are aware of any resources that discuss the scope of insurance products offering income during retirement, wealth transfer and long term care.

Not something that's a sales pitch but a dispassionate look at the pros and cons.

Speakers shooting out claims of tax free income,  indexing to avoid market lows,  covering long term care needs may have some validity, but the hesitance to get into specifics makes me suspicious.

Have any of you run across good consumer guides to insurance in retirement planning?

Or an online guru that's impressed you?

 

thanks




Be very careful with these. There are a limited set of circumstances in which some particular insurance products would make sense based on your situation. If so, only from certain insurers, like a mutual insurer, which is owned by policyholders and not shareholders.

 

These salespeople get paid a commission based on how much they sell you. Tell me the incentive and I will tell you the outcome. Ask them how they get paid and if they are a fiduciary. If they obfuscate, refuse to answer or try to change the topic, which is very common, run the hell away. Its a great litmus test.

 

I used to work for one of these insurers as an actuary but couldn't stand the BS that happened on the sales side. New York Life is a mutual insurer that has some good education as to what each of their products is designed to do (https://www.newyorklife.com/). I'm also happy to help out with any questions you may have. I love using my actuarial knowledge to help people understand insurance!

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Re: Insurance "investments" in retirement planning?

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"....There is a Financial Strategist that was just on a Webinar that is still up on YouTube called Money Revealed. His name is Douglas Andrew. One of his books is Missed Fortune 101. Chapter 10 - Structure your life insurance to perform as a superior investment. He also invests in Insurance, not 401Ks....".

 

You can do your own research, but I consider him a Charlatan. Life Insurance is not an investment. I won't write paragraphs here why his ideas are not viable. You can decide for yourself.


"...Why is everyone a victim? Take personal responsibility for your life..."
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There is a Financial Strategist that was just on a Webinar that is still up on YouTube called Money Revealed. His name is Douglas Andrew. One of his books is Missed Fortune 101

 

Chapter 10 - Structure your life insurance to perform as a superior investment. He also invests in Insurance, not 401Ks.

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There is a wealth of info online. I'm a long term investor,but it's really not possible to give you 'specifics' simply because investing has so many considerations. Your assets, your expected income in retirement, taxes, short term versus long term investments, level of risk you're willing to take, plans for expenses in retirement.....

   In order to determine what to invest in, there are a lot of specifics that would have to be answered. For example, do you need tax-free investments such as muni bonds? Would you purchase individual bonds or go into a fund? Do you believe interest rates will rise which will hurt the value of those bonds? Would you really make a good return from those bonds with your income/tax levels in retirement?

   Can't get specifics until so many other factors are known. This applies to insurance products, to answer your initial question.

 

https://www.newretirement.com › Retirement News › Retirement Planning › Articles
 

"...Why is everyone a victim? Take personal responsibility for your life..."
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Insurance "investments" in retirement planning?

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Well I'll try this question / issue here.

 

I'm finding a lot of retirement seminars in my area are pitches to find customers for insurance products.

Now I'm not implying that there's not a place for insurance.  But I find these seminar leaders are very cagey about discussing these "investment / insurance" products.  They don't seem to want to point people to educational resources.

This I find very suspicious.

So I'm wondering if people are aware of any resources that discuss the scope of insurance products offering income during retirement, wealth transfer and long term care.

Not something that's a sales pitch but a dispassionate look at the pros and cons.

Speakers shooting out claims of tax free income,  indexing to avoid market lows,  covering long term care needs may have some validity, but the hesitance to get into specifics makes me suspicious.

Have any of you run across good consumer guides to insurance in retirement planning?

Or an online guru that's impressed you?

 

thanks

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