So if I just want the cash value...no loans and no death benefit etc...a WL policy will just deposit the CV in my bank account?
numbers and examples please.
Is that a flat rate ie no inflation adjustment. what is the actual income after fees and interest?
Yes you will give up some potential return by holding cash and short term bonds to ride out downturns....but let's call in insurance.
All ROTH income is tax free....the gains in CV WL are not tax free.
Please design me a WL policy that matches the $1M GUL death benefit and also produces $550k retirement income and tell me the lifetime cost in premiums, riders, taxes and interest assuming starting at age 30, taking $16k, 3% annual inflation adjusted income starting at 59.5 and death at 83. I think the GUL and ROTH approach would cost $430k. The 5% ROTH return is not guaranteed, but it seems like a sensible number to use. The ROTH contributions compound to $400k at age 60 and a 4% withdrawal rate starts at $16k and if you inflate it a 3% per year the total withdrawals are $550k by age 83. There is a very strong probability that there would be money left in the ROTH at age 83.....it would still have $279k at 5% return