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Permanent Life Insurance - Life Coverage Policy Guide Leland 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.

Stephen Chappell
106 North Water St
Wilmington, NC
Company
Title: Financial Advisor
Company: Raymond James Financial Advisor
Type
Registered Investor: Yes
Education
MSFS,CFS
East Carolina University
School of Financial Planning
Years Experience
Years Experience: 20
Service
Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Retirement Planning,Investment Consulting & Allocation Design,Retirement Income Distribution Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Annuities,Long-Term Health Care Planning,Insurance & Risk Management Planning,Asset Protection Strategies & Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,In

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:
John Medwin
1120 Old Ridge Rd.
East Bend, NC
Company
Title: Retirement Specialist
Company: Medwin & Associates
Education
Gardner Webb University
Years Experience
Years Experience: 15
Service
Stock Market Alternative,Wealth Management,Life Insurance,Long-Term Health Care Planning,Estate Tax Planning,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicare Planning,Retirement Planning,Insurance & Risk Management Planning,Education Funding & Financial Aid Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Alternative Investments,Annuities,Annuity Ideas & Strategy Planning,Asset Protection Strategies & Planning

Data Provided by:
Rick White, RFC
8317 Six Forks Road
Raleigh, NC
Company
Title: Registered Financial Consultant
Company: American Planning Group, Inc.
Education
Marietta College/BA
College For Financial Planning/1 year
Years Experience
Years Experience: 32
Service
Life Settlements,Pension for Highly Compensated Owners,Stock Market Alternative,Reverse Mortgage,Medicare Planning,Health Care 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,Hourly Financial Planning Engagements,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Disa

Data Provided by:
Mr. Charles E. Trent (RFC®), CFP, CHFC, CLU, EA, LUTCF
(704) 365-3122
6525 Wheeler Drive
Charlotte, NC
Company
Gardner and White
Qualifications
Education: MBA
Years of Experience: 26
Membership
IARFC, FPA, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, LiabCover, Compensation Plans

Data Provided by:
Daniel T. Cooper (RFC®), CSA, LUTCF
(910) 790-7990
4024 Oleander Dr Ste 1A
Wilmington, NC
Company
BluePrint Retirement Advisory Group
Qualifications
Years of Experience: 19
Membership
IARFC
Services
Invoice, Estate Planning, Retirement Planning, Seminars Work, Annuities, Life Insurance, Long Term Care Insurance, Compensation Plans

Data Provided by:
Wilmington Insurance Quotes
(910) 228-8352
5611 Wood Duck Circle
Wilmington, NC
Alternate Phone Number
910-228-8352
Services
life, health, dental/vision, homeowners, auto
Prices and/or Promotions
We work with over 40 companies, so we can shop around for you!

Mr. Harvey R. Alter (RFC®), CEP, CSA, MBA
(973) 265-2862
117 Shenandoah River Dr
Hertford, NC
Qualifications
Education: mba
Years of Experience: 33
Membership
IARFC, NICEP
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Asset Protection, BuySell, LiabCover, Compensation Plans

Data Provided by:
Mr. Nelson M. Kelly (RFC®), CHFC, CLU
(919) 270-2553
3737 Glenwood Ave
Raleigh, NC
Company
Winthrop Capital Management
Qualifications
Education: B.S., University of Tennessee -- Economics/BusinessCLU, ChFC, RFC
Years of Experience: 26
Membership
IARFC, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, Precious Metals, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Charitable Foundations, BuySell, Compensation Plans

Data Provided by:
John C. Watson (RFC®), CHFC, CLU
(336) 379-8207
3816 North Elm Street
Greensboro, NC
Company
Lawson & Watson, LLC
Qualifications
Years of Experience: 33
Membership
IARFC, MDRT, AALU, SFSP, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Executive Compensation Planning, Retirement Planning, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, 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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