astroman30 (November 30, 1999 at 12:00 am)

WL is about the worst thing you can buy. At most it's roi is about 4%. That's less than the rate of inflation. Check out Dave Ramsey, Suzie Ormon, Smart Money, Consumer Reports. Get their take on it.

cabajaba (November 30, 1999 at 12:00 am)

my Whole Life is performing great during these times. My Mutual funds are doing so hot. I use my whole life as its own asset class in my investments. Its nice knowing some of my money going into guaranteed growth vehicle.

od4realXX (November 30, 1999 at 12:00 am)

YUP WHOLE LIFE IS DEFINATLY A SCAM

xslayerxpac (November 30, 1999 at 12:00 am)

OH, and aside from it still being more cash after tax deductions from capital gains, it's also what every expert on the planet says to do when it comes to retirement funds for middle class families. "Buy term and invest the difference". $600/yr is the national average savings for middle income families, that's out of Money Magazine. Warren Buffet just recently threw something like 8 billion dollars into the market; I think Joe Schmo's $50/month is going to be just fine.

xslayerxpac (November 30, 1999 at 12:00 am)

Also, if the general trend for a WL policy is 5-8% in interest for 20-30 years, and a solid, diversified mutual fund portfolio can easily return 12-15% over the same time frame, who cares what kind of tax money you'll be paying... you'll have way more than you would in a WL policy. $600/yr @ 8% for 30 years is $74,000, best case scenario for a WL policy. $600/yr @ 11% for 30 years is $134,000, WORST case scenario for a MF portfolio. Think about it.

jclimon (November 30, 1999 at 12:00 am)

AMEN!

jclimon (November 30, 1999 at 12:00 am)

I know where. Municipal Bonds, right now there is one out there paying out 9% interest rate, and it is income tax free. And it is liquid!!! If you track mutual funds, there has never been a period of more than 8 years that have underperformed.

xslayerxpac (November 30, 1999 at 12:00 am)

Not only that, you have to pay it back with interest. The only way to get that cash permanently is a 1035 exchange into an annuity. If the company I work for is the biggest scam in the industry, why would Citi spend over $1bil into research and investigations to buy the company? We're also being sold to a different bank in the near future, lowering our costs and loads when that happens as well. I'm sure the over 6 million international clients all think it's a scam.

xslayerxpac (November 30, 1999 at 12:00 am)

If you're saving for retirement, why would you want 3 or 4% guaranteed and most likely receive 7 or 8% over 30 years of a policy, when the right mutual funds will yield 10-15% over that same time span? None of our mutual funds have lost money in a 10 year period. When you invest money into a whole life policy, you're investing money into equity indexes like S&P. You can't even take money out of a WL policy before 59.5 without having to pay it back. Some savings that is.

prospersbc (November 30, 1999 at 12:00 am)

Primerica, the biggest scam in the financial services industry.