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need help to see if insurance agent is selling me correct
Old 08-16-2010, 07:32 AM   #1
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need help to see if insurance agent is selling me correct

hey guys,
i recently got in touch with an agent about life insurance. told him i wanted a 30 year term. he said ok..we talk for a while and he said he was sending me out the application for the term life insurance. i get it in the mail i take a look at it and it read that it is a " term UL 30 policy" but is was designed to meet the needs of a term life insurance purchasers. is this really a universal life policy in disguise? he tells me its a term life insurance but the description reads" this is not a term life, single premium, level-premium or vanishing premium is universal life insurance a type of term life insurance? it talks of policy loans and withdrawals but i don't think term life insurance policies can do that? what should i do?

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Old 08-16-2010, 07:45 AM   #2
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If it says it isn't term life, it isn't. You need to find another insurance agent - he's trying to pad his pocket at your expense, he's being deceptive and acting like the vision many of us have of insurance salesmen.

If he's being dishonest on this transaction, where else will he try to screw you?


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Old 08-16-2010, 07:51 AM   #3
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If it says "UL," they are trying to pull a fast one on you if they are claiming it's pure term life.

Another quick way to look is that if you've priced pure 30-year term and these premiums are considerably higher than most of the quotes, they're certainly trying to push something that's more than just term life. Frankly I wouldn't do business with anyone who engages in these business practices. As REW says, this is the sort of thing that gives insurance salesmen a bad name.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

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Old 08-16-2010, 08:51 AM   #4
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If the word "universal" is in the application, it's NOT term insurance, so don't sign it...............
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)

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