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Technology Stocks : All About Sun Microsystems

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To: Sonki who wrote (23411)	11/26/1999 2:42:00 PM
From: Detail-MD	Read Replies (3) of 64865

OT-OT- Sonki, I used to be a licensed insurance agent and learned what no one wants you to know--that universal/whole life is one of the biggest SCAMS in history. If you die, you get the face value of the policy (i.e $100,000) but the company KEEPS the cash value you have "built up" in your savings. If you don't die, you can borrow your "cash value" for education purposes, etc., but you are borrowing YOUR OWN MONEY!!! PLus, they have control over YOUR MONEY while it is "invested". Better to buy only the amount of term ins. that you NEED--no more. Don't buy too much--don't buy what you can "afford"--you will probably be buying too much. Then put THE DIFFERENCE THAT YOU WOULD HAVE SPENT ON WHOLE LIFE in a good mutual fund or favorite stock. Then, if you/when you die--your family will have the face value of the term ins. policy A N D the value of your stock/mutual fund. You would have to dicuss how to shelter the mutual fund/stock portfolio from estate taxes with an accountant/lawyer. But this is the best way to go. You will also have "cash surrender charges" and other misc. fees with a whole life/universal life/cash value policy that are in the fine print and eat into your "cash value" when you want to cash it in. This is only part of the SCAM of life ins. co.'s--the only TRILLION DOLLAR INDUSTRY !!! I am not in insurance any more--was only in it for a few years when I was in undergrad. But I learned ALOT. PM me if you would like more info. I repeat I am not in ins. and only want to help--not sell you anything. I am in the medical/surgical field now. Just saw so many people have their life savings taken by ins. swindlers--and it is all legal b/c it is in the fine print!!! -Steve

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