Hello, I recently opted into a PIA3 with Pacific Life through my old boss whom I respect greatly (I seeked him out for this, he didn’t seek me out). When I worked at the financial services firm I always wanted to do a policy on myself once I found a career. I am now entering a career that when I retire, the pention will pay me about 70k a year. Rather than sinking money into a 401K or RothIRA, I’ve decided to do the PIA3 Global Indexed Universal Life (EIUL in most insurance circles). The floor is 1% guaranteed and the cap is 13.5%. I am only 21 and plan on sinking about 0 a month into it until I’m 48ish. I wanted to do this to plan for my future to supplement my pention, have addittional life insurance (250k), and also use it as an emergency fund/loan/education for my future kids and vacations 12-20 years from now. What are peoples opinions on my move to start this early and use it not as my sole means of retirement but an additional supplement? I’ve read some people saying it’s horrible, some saying it’s good. Seems most the people saying it’s horrible are for people who are starting it at an older age. I’m not a big risk taker so a VUL is out of the question.
Additional Details
Just for additional information: I chose, as of right now, to put %50 of my investments into a 5 year global market so Pacific Life counts interest towards %115 of the surplus money I put in as a reward for choosing the 5 year average. I chose to put the other %50 in a 1 year global market (lament terms) instead of the local US market because right now we are in a bad time for the US economy.

More info: I chose to have a low policy (250k) in order to use this as an investing tool first, life insurance second. I wanted the premium lower since my new career already provides a 400k life insurance policy.

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I am considering selling some of my annuity payments for a lump sum, but required to have life insurance policy as collateral. I currently have a policy which is more than needed to cover the amount needed, but dont know much about using as collateral. What types of policies are assignable? I know you can designate a beneficiary on the policy, but dont know if there is a certain type of policy needed for this purpose. Any info is greatly appreciated and thank you in advance.

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I was wondering and is something I want to do if is possible, can you take money out of the cash value of a whole life insurance policy and put it in a instant annuity. And then also pay the interest from the loan you took from the whole life insurance policy with interest from the annuity.

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I have been asked to take a life insurance policy to ensure the well being of my dependants. I have a feeling that I do not really need it because I have enough to go round for them. I need to know if taking a life insurance policy is important.

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My mother recently passed away. Unfortunately my father is extremely shady. The were divorced over 12 years ago. I am worried that there may be a life insurance policy showing him as the Beneficiary. How can I go about finding out if there is one and if so who is named on it? My father is the last one I want to benefit from her death. Especially after putting her through so much when she was still alive.

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I opened up a life insurance policy for my child and i was wondering if i could user that as an asset to get a mortgage? I called the company and they said that it was not a term policy so it build cash over a period of time

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A friend is sure there is a life insurance policy on her deceased sister, but she cannot find the policy.

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I have a 00,000.00 life insurance policy and I need to sell it asap. But I am only 59 yrs. and not dieing, at this time, just need the money to survive. So is there anyone who buys insurance policies that I can go to? I have had this policy for 15 years.

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Father and Stepmother were in process of divorcing, but father died before everything was final.He purportedly changed his life insurance policy to include all of his children, not just those bore by him and stepmother. He sent the paperwork in the mail. Never heard anything and stepmother has everything because father’s new will wasn’t finalized…It’s been three years. What can I do? How can I find out which life insurance policy he had and do we stand a chance of getting any of the money if the insurance company simply didn’t process the change before he died?

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If i’m fired from the employer providing my life insurance policy can I take the policy & pay on my own it myself or can i get the money back that i put into the policy or is the policy just lost once fired?

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