I agree completely. That is why I created my site and have dedicated it to annuity education. Most people haven’t read the contracts for annuities and usually if they had they would have known if the annuity was right for them and if the fees and surrender charge schedules made sense for their exact situation.

Even if they had read the contract understanding what it says can be difficult! Especially for a client with little or no financial background. That is why basic annuity education can be so beneficial. Learning terms and how annuities work are both essential to having any chance at understanding the actual contract.

Good luck with your new site,

Keith Dennis

Where have you discussed the fees? Annuities while there are a very small percentage of people who annuities are right for, they are being sold to everyone because the sales person can make a lot more money than selling another product such as a individual stock or ETF or even a Mutual Fund. Best of all for the sales agent, the buyer does not even know how much the sales person is getting paid.

Nelson Nash discovered and has been teaching people the use of whole life as a financial platform and that makes the world of difference. When you set up yourself with a policy according to the Infinite Banking Concept as he called it, you change the environment in which your money works.
You will be able to take advantage of banking strategies like arbitrage, velocity of money and volume of interest but the most important thing is that by you owning and controlling the account where you deposit the money, you get the return of your money and you can use it again and again allowing you to minimize opportunity cost.

Your benefits of owning and controlling that cash value go from being able to recapture interest and fees paid to financial institutions on anything you use to finance before with them, to grow funds to pay for college education, buy cars, pay for vacations, house and car repairs, emergencies etc.
You can use it with family or business applications with few adjustments.
In business you can be your own Lessor, set up executive conpensation plans, buy-sell agreement plans etc.

Steve

I wanted to ask a question regarding a ULIP I had bought 7 years back. The ULIP is Birla Sun Life Flexi Life Line 2004 – To Age 70 pay 15.

The current value of the ULIP is not even the amount I have invested in the last 7 years. Should I take partial with drawl from the ULIP and invest the money somewhere else? Or should I let the money invested in this ULIP. The ulip hasn’t performed well at all i think. Kindly advice.