I really appreciate all the great input received today, My goal in starting this post was to gather input from those of you with first hand experience, I am not selling this product nor do I have any personal experience in the use of it, I have done a fair amount of reading on the subject I do believe that a permanent life insurance policy set up correctly can offer great benefits when it comes to over all wealth and the ability to borrow for outside investments. I see the apprehensiveness of some due to many of the notes mentioned above but I also believe for every negative there is a positive also many items mentioned above.
A few questions remain
1- If I chose to sell a policy after say 25 years and $1,000,000 invested (actual deposits) what would that sell look like ? to whom do I sell? are the terms negotiable ? could I actually get my invested back out or more ?
2- what if I had a substantial loan against my policy at the time of death, knowing my cash value is held as collateral would the effect the pay out to my heirs?
3- I have herd 0f people investing their money into a policy like this rather than their 401k or other traditional retirement plan as their primary source of retirement income ? How does a monthly withdraw like this work ? or is this even accurate ?
I have been and will continue to do the research on my own but I am impatient and have burning questions I just don't want to wait and find for myself, so I figured why not leverage the masterminds of the bigger pockets community
DS
