On Tue, 21 Apr 2015 12:26:38 -0400, "dadiOH"
wrote:

krw wrote:
On Mon, 20 Apr 2015 12:48:37 -0700 (PDT), DerbyDad03
wrote:

Sometimes life insurance policies can "pay off" twice. Once when the
owner sells it, then again when the insured passes away.

No, once you sell an insurance policy it's no longer in force.

Incorrect.

Not.

Worse, the life payout is reduced by the value of the policy.

?? When the insured dies the owner of the policy receives the full amount
of the policy's death benefit.

The *insurance* value is reduced by the "cash value". The beneficiary
only gets the face value. The cash value is gone. This crappy
insurance is sold as if it were an investment and an insurance policy.
It's **** for both.

If you are thinking of a policy that earns and therefore has an ever
increasing cash value, that cash value may get very close to the death
benefit value of the policy but that has nothing to do with the death
benefit. If the owner of the policy has borrowed from the cash value, THEN
the death benefit is reduced by the amount borrowed plus interest.

I thought you said it had nothing to do with the death benefit! The
fact is that this sort of **** product is really two pieces of ****.
First, there is an overly0expensive insurance policy that gets reduced
by the cash value each year. Then there is the cash value that grows
at a horrid rate. The sum of these is the face value of the policy.
You don't get both! Whole life is probably the worst investment and
the worst insurance on the market. It makes a whole lot of money for
the salesmen and the insurance companies, though.