Anyone heard of a MetLife VUL (Variable life insurance policy) - long term investment
#1
Anyone heard of a MetLife VUL (Variable life insurance policy) - long term investment
Curious to know if anyone has one of these or knows anythign about them and what your feedback is.
Basically its a life insurance policy for 250k, 500k, or whatever you purchased. You pay into it on a monthly basis and the money is put into mutual funds/investments. It accumulates and compounds over the years and has a cash value. i.e. you can put in 150 per month and earn possibly 10% return based on the markets.. you can pull the money out any time and you still have a life insurance policy too..
this is considered a long term investment and you invest into it for the rest of your life on a monthly basis..
Basically its a life insurance policy for 250k, 500k, or whatever you purchased. You pay into it on a monthly basis and the money is put into mutual funds/investments. It accumulates and compounds over the years and has a cash value. i.e. you can put in 150 per month and earn possibly 10% return based on the markets.. you can pull the money out any time and you still have a life insurance policy too..
this is considered a long term investment and you invest into it for the rest of your life on a monthly basis..
#2
Sounds like Whole-life insurance. That's a hotly-debated topic. I personally have a small policy just as a different avenue for investment, plus I needed insurance anyway.
The wisdom I have heard is that if you feel that a whole-life policy is suitable for you, you should buy from a company that has the term "mutual" in its name. That term indicates that the company is policyowner-owned, and all the profits remain with the policyholders.
So, beyond the fact that you need to determine is that investment is right for you, you also need to consider that Metlife will likely have higher fees associated with the account, reducing your net gain.
The wisdom I have heard is that if you feel that a whole-life policy is suitable for you, you should buy from a company that has the term "mutual" in its name. That term indicates that the company is policyowner-owned, and all the profits remain with the policyholders.
So, beyond the fact that you need to determine is that investment is right for you, you also need to consider that Metlife will likely have higher fees associated with the account, reducing your net gain.
#3
Team Owner
If you want an investment, go over to Vanguard and buy a mutual fund. If you want life insurance buy term life insurance.
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