Comments on: My Choice of a Life Insurance Policy Part 1 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/ This is where your finance takes place Fri, 19 Mar 2010 06:34:17 +0000 http://wordpress.org/?v=2.9 hourly 1 By: The Financial Blogger | The Benefit of Critical Illness Insurance http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/comment-page-1/#comment-4634 The Financial Blogger | The Benefit of Critical Illness Insurance Thu, 29 Jan 2009 11:31:41 +0000 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/#comment-4634 [...] illness insurance is more than a tax saving tools. Actually, several people like the idea of the insurance itself once explained correctly. The problem with insurance (and I have the same reflex), is that [...] [...] illness insurance is more than a tax saving tools. Actually, several people like the idea of the insurance itself once explained correctly. The problem with insurance (and I have the same reflex), is that [...]

]]> By: insurance spy http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/comment-page-1/#comment-4082 insurance spy Tue, 02 Dec 2008 04:30:02 +0000 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/#comment-4082 Insurance time terms are always be significantly considered now that inflation has become more erratics. So short term ones may be more useful. Who knows when inflation continues to drop, you million would just be enough to spend for a month who nth year. Insurance time terms are always be significantly considered now that inflation has become more erratics. So short term ones may be more useful. Who knows when inflation continues to drop, you million would just be enough to spend for a month who nth year.

]]> By: The Financial Blogger | Basics of Estate Planning Part 4 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/comment-page-1/#comment-2866 The Financial Blogger | Basics of Estate Planning Part 4 Sat, 02 Aug 2008 01:25:22 +0000 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/#comment-2866 [...] residence or rental properties, this might create a great capital gain. You might want to plan permanent life insurance to cover this “potential debt”. This is a good example where a universal life could be included [...] [...] residence or rental properties, this might create a great capital gain. You might want to plan permanent life insurance to cover this “potential debt”. This is a good example where a universal life could be included [...]

]]> By: The Financial Blogger | My Choice of a Life Insurance Policy Part 2 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/comment-page-1/#comment-2437 The Financial Blogger | My Choice of a Life Insurance Policy Part 2 Mon, 19 May 2008 15:15:04 +0000 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/#comment-2437 [...] to my post on my choice of a life insurance policy, I am writing today about our final choice and the reasons behind [...] [...] to my post on my choice of a life insurance policy, I am writing today about our final choice and the reasons behind [...]

]]> By: The Financial Blogger | Update on my $1,500 project http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/comment-page-1/#comment-2242 The Financial Blogger | Update on my $1,500 project Wed, 09 Apr 2008 01:59:38 +0000 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/#comment-2242 [...] for a lower premium could be an easy way to increase your monthly cash flow. I already have a term life insurance policy and I do not expect to perform any modification in regards to the amount of the policy. Our [...] [...] for a lower premium could be an easy way to increase your monthly cash flow. I already have a term life insurance policy and I do not expect to perform any modification in regards to the amount of the policy. Our [...]

]]> By: The Financial Blogger http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/comment-page-1/#comment-257 The Financial Blogger Sun, 22 Jul 2007 10:25:23 +0000 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/#comment-257 Hi Brian, Thank you for the additional information. I have been dealing with several insurance broker through my employer and I have been taught the same. However, I don't make 100K and I am barely maximizing my RRSP. Basically, I am not there yet :cry: Hi Brian,
Thank you for the additional information. I have been dealing with several insurance broker through my employer and I have been taught the same. However, I don’t make 100K and I am barely maximizing my RRSP. Basically, I am not there yet :cry:

]]> By: Brian Poncelet, CFP http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/comment-page-1/#comment-255 Brian Poncelet, CFP Fri, 20 Jul 2007 21:16:13 +0000 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/#comment-255 Hello FB, Here is the deal with Universal Life Insurance (who should look at it) 1. You want to build cash value for retirement 2. You have at least 15 years to invest in the policy 3. You earn a high income ($100,000 per year) 4. You are already maxing out contributions to your RRSP 5 You understand the risks accoicated with mutual funds 6. You have a need...cottage, realestate, dependent children who may need further financial help later in life. The sad part about the mutual funds, that other advisors don't talk about or just don't know is there is a number of funds that have being around 15 years or more and have returned over 13% since 1989! Two bad years 1990 -1.98 and 1998 -13.81. These funds and many others are only in UL policies. A $10,000 investment (March 31 1989 to June 30 2007) would be would be worth $198,278 today! (after fees). Compare this to the TSX composite at $38,865 over the same time frame. The problem is you need $150,000 to invest! but through a major life insurance company you can get in for less than $100 per month. The fund family is ABC funds the one I am talking about is ABC Fundamental. The rest of the fund family also has excellent returns with lower risk than other funds that people can buy. Like all stories, "Universal Life is a waste" (like WMD in Iraq) is if you repeat the same thing over and over again it seems to a fact.:oops: Reagrds, Brian Hello FB,

Here is the deal with Universal Life Insurance (who should look at it)
1. You want to build cash value for retirement
2. You have at least 15 years to invest in the policy
3. You earn a high income ($100,000 per year)
4. You are already maxing out contributions to your RRSP
5 You understand the risks accoicated with mutual funds
6. You have a need…cottage, realestate, dependent children who may need further financial help later in life.

The sad part about the mutual funds, that other advisors don’t talk about or just don’t know is there is a number of funds that have being around 15 years or more and have returned over 13% since 1989! Two bad years 1990 -1.98 and 1998 -13.81. These funds and many others are only in UL policies.

A $10,000 investment (March 31 1989 to June 30 2007) would be would be worth $198,278 today! (after fees). Compare this to the TSX composite at $38,865 over the same time frame. The problem is you need $150,000 to invest! but through a major life insurance company you can get in for less than $100 per month. The fund family is ABC funds the one I am talking about is ABC Fundamental. The rest of the fund family also has excellent returns with lower risk than other funds that people can buy.

Like all stories, “Universal Life is a waste” (like WMD in Iraq) is if you repeat the same thing over and over again it seems to a fact.:oops:

Reagrds,

Brian

]]> By: The Financial Blogger http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/comment-page-1/#comment-242 The Financial Blogger Tue, 17 Jul 2007 18:21:47 +0000 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/#comment-242 Gate VP, It seems that you have enough coverage for now. I guess you are planning to get a bigger amount once you will have children? Gate VP,
It seems that you have enough coverage for now. I guess you are planning to get a bigger amount once you will have children?

]]> By: Gates VP http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/comment-page-1/#comment-240 Gates VP Tue, 17 Jul 2007 17:12:31 +0000 http://www.thefinancialblogger.com/my-choice-of-a-life-insurance-policy-part-1/#comment-240 Hey FB. I just moved in to a rental apartment with the fiance and our setup is pretty easy. I get a full year's salary from the company's plan if I die, so we're covered. We own more than we owe and don't have any dependents, so it's not really even a consideration. I usually laugh when I get the Credit Card company calling asking me about insurance for my card or telling me about the bank's new life insurance policy. They can't (of course) explain to me why <i>I</i> would need such insurance :cool: Hey FB. I just moved in to a rental apartment with the fiance and our setup is pretty easy. I get a full year’s salary from the company’s plan if I die, so we’re covered. We own more than we owe and don’t have any dependents, so it’s not really even a consideration.

I usually laugh when I get the Credit Card company calling asking me about insurance for my card or telling me about the bank’s new life insurance policy. They can’t (of course) explain to me why I would need such insurance :cool:

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