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Discussion in 'General Discussion' started by Mark17, May 18, 2018 at 4:18 PM.

  1. Mark17

    Mark17 Well-Known Member

    I went to a financial advisor presentation last night (free dinner) and took in a persuasive sales pitch on LIRPs.

    Does anyone here have a working knowledge of insurance products (e.g. life insurance, whole/term life, variable/universal, etc.)? I'm weak in this area but I'd be interested in getting into a discussion about it as long as it doesn't sail too far over my head. :)

    As a starting point, I'll volunteer my novice theory that a lot of promises/objectives of different types of insurance policies can be better duplicated by the self-directed options trader.
  2. ACS

    ACS Well-Known Member

    Free dinner means that advisor is getting fat fees for the products presented. If you need life insurance then get term insurance. Any other type of insurance is more an investment and you can almost surely do better with something else that avoids those fees.
  3. Trader G

    Trader G Well-Known Member

    ACS is right, I came out of college working for an insurance /financial planning company. In a nutshell, the fees inside those products kill the returns and you are almost always better off with term insurance unless you have a special situation.

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