Question:

Looking for universal life insurance..?

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I'm looking at Pacific Life for universal life insurance. Is it a good trusted company anyone of u guy familar with? is this company good to invest in. I heard they said their universal life insurance have some pretty good benefit too. Is it true that if my premium is $200/month and with that money, only about $60 went to coverage and $140 go into my saving? is this true?

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  1. There are reasons to have a permanent life policy but an investment is not one of them. Any gains you receive should be looked at as a plus. You can almost always do better investing elsewhere.

    You need to look closely at the information about the policy. When you first start $60 may go to the policy but as you get older a greater amount may be going to the policy. There is also a surrender charge that you should look at should you decide not to keep the policy in the future. How much is the charge and for how long. You should also look at the projected return; many agents will show a return of 12% but that is very unlikely. Also have them run the return at 5%, which is probably low, but will then give you an idea of the variances.


  2. Pacific Life is a good, solid company.  They are one of the leaders in the universal life insurance industry.  

    I encourage you to research the different kinds of policies to determine the one that meets your needs the best.  Universal life insurance can be used to combine the benefits of a basic life insurance policy with the benefits of a reasonably secure, long term investment with tax free gains until you withdraw the money.

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