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.
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.