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Permanent Life Insurance - Life Coverage Policy Guide Jacksonville NC

Life insurance companies make good money on these policies. There are generally incentives to life insurance agents to sell them. Insurers profit from people who buy these plans young and then drop them early.

Mr. Richard L. Pugh (RFC®), CFP, MBA
(910) 455-6400
824 Gum Branch Rd., Suite I
Jacksonville, NC
Company
Pugh & Associates Inc.
Qualifications
Education: MA Business Administration
Years of Experience: 16
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Jon Jonathan Gregory
5401 Plain View Hwy.
Dunn, NC
Service
CD Alternative,Health Care Insurance,Long-Term Health Care Planning,Asset Protection Strategies & Planning,Income for Life/ Preserve Principal,Disability Insurance,Annuities,Insurance & Risk Management Planning,High Yield Bank Accounts,Medicare Planning,Life Insurance,Annuity Ideas & Strategy Planning

Data Provided by:
Rondol L. Davidson (RFC®), CLU
(336) 299-2986
620 Green Valley Road Suite 204
Greensboro, NC
Company
Jefferson Pilot Financial
Qualifications
Education: BAS
Years of Experience: 27
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Retirement Planning, Seminars Work, Mutual Funds, Annuities, Life Insurance, Education Plan, Asset Protection

Data Provided by:
James Seramba
701 Green Valley Road
Greensboro, NC
Company
Title: Managing Partner
Company: Grey Oak Wealth Management
Type
Investment Advisor Rep: Yes
Education
United States Military Academy BS 1986
Wake Forest University MBA 1999
Years Experience
Years Experience: 14
Service
Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Hourly Financial Planning Engagements,Reverse Mortgage,Disability Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Alternative Investments,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Busines

Data Provided by:
Mrs. Mary T. Moose (RFC®), CSA, RFP
(704) 857-4924
603 N. Main St
China Grove, NC
Company
Victory Wealth Management, Inc.
Qualifications
Years of Experience: 13
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, CommOptions, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Healthcare Accounts, Charitable Fo

Data Provided by:
Garrett Moretz
290 Glencoe Lane
Mooresville, NC
Company
Title: Financial Advisor/Principal
Company: Moretz Wealth Management, LLC
Type
Investment Advisor Rep: Yes
Education
BS Business Administration
Years Experience
Years Experience: 11
Service
401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Fee-Only Comprehensive Financial Planning,Pension for Highly Compensated Owners,Stock Market Alternative,Reverse Mortgage,Medicare Planning,Life Insurance,Investment & Portfolio Management,Long-Term Health Care

Data Provided by:
Guiseppi Morabito, CRPS
3737 Glenwood Avenue, Suite 100
Raleigh, NC
Company
Company: J.P. Turner & Company Capital Management, LLC
Type
Investment Advisor Rep: Yes
Service
Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Life Insurance,Inv

Data Provided by:
Mr. Dennis G. Stokley (RFC®), RHU
(910) 256-2350
5725 Oleander Dr. Suite F-1
Wilmington, NC
Company
Stokley Financial Group
Qualifications
Education: University of North Carolina at Chapel Hill. B.S in Industrial Relations and Psychology
Years of Experience: 22
Membership
IARFC
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Education Plan, Healthcare Accounts, BuySell, LiabCover, Compensation Plans

Data Provided by:
Mr. Allen Douglas Ray (RFC®), MBA
(704) 248-8549
3440 Toringoon Way, Ste. 205
Charlotte, NC
Qualifications
Education: MBA
Years of Experience: 23
Membership
IARFC, MDRT
Services
Invoice, Estate Planning, Retirement Planning, Seminars Work, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Compensation Plans

Data Provided by:
Mr. James D. Stillman (RFC®), CSA
(704) 660-0214
119F Poplar Pointe Dr
Mooresville, NC
Company
JDS Wealth Management Corp
Qualifications
Education: Licenses held are:Life & Annuity, Medicare Supplement / Long Term Care, Series 65 Registered Investment Advisor, Registered Financial Consultant (RFC), Certified Senior Advisor
Years of Experience: 13
Membership
IARFC, MDRT, FPA, SCSA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, CommOptions, Precious Metals, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Charitable Planning, Healthcare Accounts, Asset Protection, Compensation Plans

Data Provided by:
Data Provided by:

Permanent Life Insurance - Life Coverage Policy Guide

Provided By: 

Permanent Life Insurance

The only reason to buy permanent life insurance is that you are going to hold this insurance for life.

By holding the "permanent life insurance for life," we mean for life. There are usually up-front charges which considerably impact the savings component. Eventually, the savings will begin to pay off, but it can take 10 to 20 years for things to begin moving your way.

So what are you really getting? Well, it works like this: part of your monthly payment pays for the actual life insurance (This will normally be close to the amount you'd pay for term life insurance ). The rest of your payment (minus management charges; which are a fee over and above the cost of premium) is applied to the savings component. Therefore, in order to actually build savings, your premiums are higher than term life insurance by the amount of your savings contribution, plus fees to the life insurance company to 'manage' your money.

Now, if you want someone to manage your money, wouldn't you want a specialist? Maybe a bank?

Originally, the cash value that you built in your permanent life insurance was designed to continue to pay your premiums when you get older and premiums become REALLY expensive. This was a selling point because you banked money to pay high premiums to keep life insurance in force after retirement - when you don't make as much.

Another of the big selling points has been that you (as the life insurance policy holder) could access those savings if you need them. Sounds good, right? Well, it doesn't always work as planned. If you want to use those savings for something other than life insurance payments you will likely pay income tax on them; which negates any "tax shelter" status and could even push you into a higher tax bracket (with higher taxes).

Rules to borrow against a permanent life insurance plan can be very complicated, can cost interest, and what if you don't want to pay it back? It's supposed to be "your money" afte...

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