Income Generating Online Tips For Beginners | LawrenSmith.com
You can choose to sell cell phones, internet services, candles, furniture, or even insurance. The affiliate field is wide open. The affiliate program you choose will handle all the money, shipping and correspondence with your customers. … Affiliate programs can be a great stepping stone towards cashing in on the riches that the internet provides. Offer Your Services: As time goes on, you will find that you have learned so much and have evolved into an Internet Guru. … read more…
If I Cash In A Whole Life Insurance Policy, Is That Considered …
I cashed in a whole life policy this past year and my insurance company asked if I wanted to go ahead and take taxes out or wait. I chose to go ahead and take the taxes out so I wouldn’t forget about it and have to fork it over this … read more…
Ron Paul on Mortgage Bailout & Financial Armageddon | Montestate …
I knew the United States would collapse within my life time. And bail out or not, all we are doing is delaying what is going to happen. The United States ‘is’ going to collapse. Its only a matter of time. Our government keeps spending more and … The crux of the problem was the secondary mortgage market (Fannie and Freddie) cashing in recklessly on the housing bubble, able to easily thwart OFHEO oversite due to being well connected politically to congressional democrats. … read more…
From Google Blog Search
Adjusting insurance to your actual needs
Having your life insured, you are most likely to realize that your insurance coverage will be modified with the passing of time as you get older. When you are younger, most types of life coverage will… read more…
life insurance Q&A
Does energy insurance income adjectives of the money it say it will.? For example will if my husband has a 20yr. permanent status life insurance policy (worth 300,000) and he di… read more…
The Benefits of Financial Services
When you need financial help there are many services offered within the industry. There are many benefits to knowing about these services.
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From GoArticles.com
Open Question: whole life insurance policy cash in value on taxes?
My wife quit her job. She was contributing around $10 a month to a 25,000 whole life insurance. We got a letter that said the cash value was around $700. If we cash it in is there a tax cost to us? The letter stated that the cash value will be used to pay the insurance cost till it is depleted then the policy would be closed.
Open Question: How do you find out what happened to a bank or old life insurance company ?
I found a life insurance policy from my father’s papers that was sold by an old Savings Bank in Brooklyn New York, how can I track down this bank and or life policy to see what happened to them since there might be some cash value on this policy?
The bank that sold the policy is no longer, the phone number is dead, so either it went out of business or was bought out by another bank so where would I look for information on what happened to the Bank in question.
Voting Question: What advice can you give on rescinding a life insurance policy?
So here’s my situation: A friend of mine referred me to this insurance company called World Financial Group. So I went and the agent there told me a bit about the company, and I thought I liked it, so I decided to agree to join the company as well as become one of their clients. I also wanted a job where I would be able to work with my friend. Later, being more informed about the company, I learned that my friend had recruited me, by referring me, so I was technically his client and I also work under him.
So what I regret doing was putting $2400 up front for a policy called the Indexed Universal Life policy. Basically, it’s a whole life insurance policy but it also has a cash value, which grows in interest and helps pay for the cost of insurance. What I liked about it was it seemed like an appealing way to invest my money in, since I have some spare money sitting around in the Chase bank, with a meager .05% interest rate. Now I’m hearing that it’s illegal to sell IUL as an investment plan.
There are a lot that I don’t know about this policy, though the agent did a lot of talking. I probably know more about how to sell the policy than I do on how the policy works. I was told that in order to work in this company, I needed to purchase an IUL policy, otherwise, my clients wouldn’t trust me. Isn’t that illegal business practice? To force an employee to buy something you sell in order to work for the company?
So this IUL policy I have, I believe covers me 500k if I pass away. The premium is $150 a month. I don’t remember what percentage of the premium goes into the cost of insurance, and what percentage goes into the cash value. The thing is I don’t need such a huge policy because 1) I already have a 400k SGLI policy, which costs $27/mo, because I’m in the Army Reserves, 2) After the $2400 runs out, which will probably happen pretty soon, I still expect to be in College, which means I won’t have a job and a stable income to continue paying the premiums.
At first, I thought I would stay in this company, and make pretty good income, and use that income to pay for IUL. However, a lot of heavy recruiting goes into working here. There’s no required quota, where you have to recruit so many people otherwise you’re fired. There is, however, a quota for advancement. I have to recruit 3 new employees and find 3 clients in order to be promoted. I’m not the one who does the recruiting either, I’m supposed to bring friends, family members, acquaintances – anybody I knew – and have the Marketing Director do all the talking. Me, I just sit back and watch how an experienced agent does it, because that’s how I will be expected to do it as well. Being so uncomfortable about what’s required of me, the fact that I would have to get my friends, family, classmates from several years back, pretty much anyone I knew into this business that I hardly know a thing about, I simply stopped coming to their meetings. I don’t want to be making money off of the people I just listed, and if I did, I’d rather it be a good service that I can feel I’ve actually helped someone.
I have a feeling that this company targets less educated people. This companies promises to “educate people on how money works,” and that it “focuses more on concepts rather than products.” So far, I found it all to be quite hypocritical, because it seems to take advantage of people who don’t know very much about finances, and get them to buy actual products, e.g. IUL.
So long story short, I want my money back. I’m not sure if that option is still available because it was Dec 15ish of ’09 that I signed all those contracts and had my $2400 withdrawn from my savings. I’m not sure if I’ll be able to cancel the policy AND get my money back because of surrender charges. I also feel very uncomfortable talking to my agent about this because to be honest, I don’t trust him. I think he’s just going to keep pushing for me to keep this policy and get me to start recruiting people again. Even he says he’s very biased when it comes to giving his opinion on the financial world simply because the company he works for, WFG, sorta brainwashes you and indoctrinates you with a certain belief system. For example, term life insurance is bad because you don’t get anything out of it once the term is over and you don’t die.
That’s why I am asking for advice here. I want someone whose income does not depend on me sticking with a policy to give me advice, preferably someone who knows about this stuff, a life agent perhaps, or a client who knows what IUL is. If worse comes to worse, I might have to rescind the policy, saying that I wasn’t well informed when I decided to go ahead with it, and that the main reasons why I bought IUL was because I thought it was good to invest my money in and because I was required to get it because I wanted to work for this company – both of which are probably illegal business practices, correct? So if you know about fi
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