Am I wrong to think that permanent life insurance is a major ripoff?

Am I wrong to think that permanent life insurance is a major ripoff?

-Most premium goes to agent and company profit in the first few years. -penalty for trying to get out of the trap in the first few years. This is a nasty trick. – ridiculous cost (profit of agent and company) for insurance protection – borrow using your cash value as collateral at high rate. (don’t have to pay tax? Is it really a benefit when you are borrowing and paying company interest?) – earn guaranteed interest arte after they skim off hugh chunk from your premium. They never want you to notice how much they keep and how little your premium goes to cash value – agent likes to present term to perm conversion as a feature instead of a trap, which is what it really is – agents pushing for cash value type insurance are either ignorant of what they are selling or intentionally misleading you with standard industry obfuscation – every feature/options are designed to milk higher premium to lure you into thinking that you are getting something good. Such as the cash value added to the death benefit – All the talks of cash value is, afterall, belonging to the insurance company, so what is the big deal? This is my impression only, the cash value insurance is one BIG ponsi scheme. It is called whole life because it is designed to make you a slave to the policy premium for your whole life.

BEST ANSWER: Try this site where you can compare quotes from the best companies : Compare free insurance quotes


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BEST ANSWER: Try this site where you can compare quotes from the best companies : Compare free insurance quotes

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Am I wrong to think that permanent life insurance is a major ripoff?

-Most premium goes to agent and company profit in the first few years. -penalty for trying to get out of the trap in the first few years. This is a nasty trick. – ridiculous cost (profit of agent and company) for insurance protection – borrow using your cash value as collateral at high rate. (don’t have to pay tax? Is it really a benefit when you are borrowing and paying company interest?) – earn guaranteed interest arte after they skim off hugh chunk from your premium. They never want you to notice how much they keep and how little your premium goes to cash value – agent likes to present term to perm conversion as a feature instead of a trap, which is what it really is – agents pushing for cash value type insurance are either ignorant of what they are selling or intentionally misleading you with standard industry obfuscation – every feature/options are designed to milk higher premium to lure you into thinking that you are getting something good. Such as the cash value added to the death benefit – All the talks of cash value is, afterall, belonging to the insurance company, so what is the big deal? This is my impression only, the cash value insurance is one BIG ponsi scheme. It is called whole life because it is designed to make you a slave to the policy premium for your whole life.

BEST ANSWER: Try this site where you can compare quotes from the best companies : Compare free insurance quotes


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Am I wrong to think that permanent life insurance is a major ripoff?

-Most premium goes to agent and company profit in the first few years. -penalty for trying to get out of the trap in the first few years. This is a nasty trick. – ridiculous cost (profit of agent and company) for insurance protection – borrow using your cash value as collateral at high rate. (don’t have to pay tax? Is it really a benefit when you are borrowing and paying company interest?) – earn guaranteed interest arte after they skim off hugh chunk from your premium. They never want you to notice how much they keep and how little your premium goes to cash value – agent likes to present term to perm conversion as a feature instead of a trap, which is what it really is – agents pushing for cash value type insurance are either ignorant of what they are selling or intentionally misleading you with standard industry obfuscation – every feature/options are designed to milk higher premium to lure you into thinking that you are getting something good. Such as the cash value added to the death benefit – All the talks of cash value is, afterall, belonging to the insurance company, so what is the big deal? This is my impression only, the cash value insurance is one BIG ponsi scheme. It is called whole life because it is designed to make you a slave to the policy premium for your whole life.

BEST ANSWER: Try this site where you can compare quotes from the best companies : Compare free insurance quotes


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BEST ANSWER: Try this site where you can compare quotes from the best companies : Compare free insurance quotes


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BEST ANSWER: Try this site where you can compare quotes from the best companies : Compare free insurance quotes

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Am I wrong to think that permanent life insurance is a major ripoff?

-Most premium goes to agent and company profit in the first few years. -penalty for trying to get out of the trap in the first few years. This is a nasty trick. – ridiculous cost (profit of agent and company) for insurance protection – borrow using your cash value as collateral at high rate. (don’t have to pay tax? Is it really a benefit when you are borrowing and paying company interest?) – earn guaranteed interest arte after they skim off hugh chunk from your premium. They never want you to notice how much they keep and how little your premium goes to cash value – agent likes to present term to perm conversion as a feature instead of a trap, which is what it really is – agents pushing for cash value type insurance are either ignorant of what they are selling or intentionally misleading you with standard industry obfuscation – every feature/options are designed to milk higher premium to lure you into thinking that you are getting something good. Such as the cash value added to the death benefit – All the talks of cash value is, afterall, belonging to the insurance company, so what is the big deal? This is my impression only, the cash value insurance is one BIG ponsi scheme. It is called whole life because it is designed to make you a slave to the policy premium for your whole life.


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BEST ANSWER: Try this site where you can compare quotes from the best companies : Compare free insurance quotes


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BEST ANSWER: Try this site where you can compare quotes from the best companies : Compare free insurance quotes


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Am I wrong to think that permanent life insurance is a major ripoff?

-Most premium goes to agent and company profit in the first few years. -penalty for trying to get out of the trap in the first few years. This is a nasty trick. – ridiculous cost (profit of agent and company) for insurance protection – borrow using your cash value as collateral at high rate. (don’t have to pay tax? Is it really a benefit when you are borrowing and paying company interest?) – earn guaranteed interest arte after they skim off hugh chunk from your premium. They never want you to notice how much they keep and how little your premium goes to cash value – agent likes to present term to perm conversion as a feature instead of a trap, which is what it really is – agents pushing for cash value type insurance are either ignorant of what they are selling or intentionally misleading you with standard industry obfuscation – every feature/options are designed to milk higher premium to lure you into thinking that you are getting something good. Such as the cash value added to the death benefit – All the talks of cash value is, afterall, belonging to the insurance company, so what is the big deal? This is my impression only, the cash value insurance is one BIG ponsi scheme. It is called whole life because it is designed to make you a slave to the policy premium for your whole life.


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