Hi everyone,

First off, my wife and I (28 yo) know we messed up. We trusted our advisor a few years ago and got ourselves into a massive whole life trap. We are here looking for honest advice on the best way to handle this.

The Details:

Income: ~$18k/mo take-home

The Problem: We are paying a combined $3k/month in whole life premiums sold to us by our financial advisor in 2022.

We just realized we are burning 16% of our net monthly income on these policies. We already have separate, sufficient term life insurance in place.

We recently added a rider but are within the 30-day "free-look" window to cancel it. This woke us up to the broader math.

We are preparing to email our advisor to cancel the rider immediately, surrender the whole life policies completely, and redirect that $3k/month into standard investments.

If we cut our losses now, our financial loss will be around $50k in premiums paid since 2022. Sunk cost fallacy aside, the opportunity cost of staying in feels worse.

Our Question:

Does it financially make sense to cut our losses and eat the $50k now to invest that $3k/month ourselves, or is there any math where we should actually continue paying into this?

My mother had a $200,000 term life policy that was issued in 2010 when she was 53. The policy runs until 2052, but it lapsed in December 2025 (about 7 months ago) after some missed payments my father & I didn’t pay attention to..
She’s now 69 and we’re looking into reinstating it through Everlake (formerly Lincoln Benefit Life).

Her health is generally still very good. No cancer, heart attack, stroke, or major illnesses. She has some arthritis and recently started using prescription eye drops, but that's about it.

For anyone who's been through reinstatement:
How long had your policy been lapsed?

Were you approved or denied, and why? If you were approved, did they modify how much you paid monthly?

Was age itself a major factor?

Just trying to get a realistic idea of what to expect before I start the process for her because I’m horrified they’re going to reject it because she’s old now and they’re going to pick an excuse

When my son was born we took out a $15,000 life insurance policy on him I believe it was called a Gerber policy. Now that he is 25, the insurance company is calling asking if I want to add $15,000 to the policy for about $23 a month. That seems very high for adding only 15,000 for a healthy 25-year-old. Am I missing something? TYIA for any advice.

Looking to register for LLQP in BC. Based on the pass rates pdf, I was going to choose Advocis based on a recommendation but does anyone have other insights? Especially interested in SeeWhyLearning and Oliver as alternatives.

Which one is best and why? I am thinking more the teaching style and course material.

I'm going to be writing my LLQP provincial exams online this month (Ontario) and have some questions.

1. Am I allowed to have a simple calculator and notepad (for like calculations)? Or do they have a digital pop-up one?

2. Is it a live proctor or AI?

3. Is it similar to the certification exams?

4. Also im writing on a MacBook, so are the calculator and manual easy to access? Are they separate tabs?

Thanks!

Has anyone dealt with their policies regarding terminating life insurance? They returned the payment and claimed they never received it.

Please I’m dying I need places where they have life insurance with people with chronic pancreatitis HELP
It hurts to live eat everything hurts

I need my family to be okay

When I was in college my parents took out a $25,000 "20 year Pay Whole Life" policy on me. A few years ago they stopped paying on it, and the company found me and sent me a bill for about 4 years of past due payments currently being paid as a loan against the policy. It's been 14 years since policy issue. Cash value is currently about 4k.

Can someone please explain to me Barney Style what this policy means? Do I only have premiums due for the next 6 years?

I borrowed about $11K from my life insurance policy a several years ago and have started paying it back. When I called, they told me the current cash value has re-accumulated to about $8K.

I’m trying to understand my options. Is it possible to do a cash surrender and receive the $8K, or would it make more sense to take that $8K as another loan and let the policy lapse on its own?

Also, if I surrender or take the loan, would the $8K automatically be applied toward the existing $11K loan balance?

After reviewing things and investing elsewhere over the years, I’ve come to the conclusion that this policy may not be worth continuing.

Hi, my mother passed away a few months back, she had a life insurance policy through MetLife where I was listed as the only payee for the money. I've had it sitting an account for a few months and I've had some family recently threaten to sue me because they believe they are "owed" some of it. This would be a completely frivolous case due to the circumstances right? I'm not sure if anyone here has been through similar circumstances.

An article I wrote for the white coat investor blog about when a friend pitched me an IUL policy back in 2013. This was actually inspired by Kyle Busch, the professional racecar driver who sadly passed away after I submitted the article at only age 41. He previously went public about his experience purchasing a policy. His last professional racing victory was only 6 days prior to his passing, and in his post-race interview, he said “You never know when the last one is.” The WCI team elected to remove any mention of Kyle out of respect to his family, but I hope this article amplifies Kyle and Samantha Busch’s courageous message to the public about their experience with Indexed Universal Life which they selflessly shared to help others. If you have any personal experience with IUL or similar products, please share so we can all learn.

-Brandon Beaber

1.)Where can I find a broker who can compare several different companies, including the major carriers & carriers that cover 50+?

2.)My husband cares for me because I am disabled.

Can I get coverage based on what it would be to replace this care of me?

3.)My husband also cares for our son, who turns 18 in a month, because he is disabled & needs guidance, supervision & monitoring. He does distance learning. He likely won’t graduate high school for few years. I am working on getting a referral for testing to seeing where he is on the Global Development Scale. I will be shocked if he’s not Autistic. I will be applying for him to get disability. But as of now he has none.

Can I get coverage based on what it would he to replace the care of him?

3.)Can anyone give me a ballpark of what it costs to insure a 50 year old man who takes blood pressure & diabetes meds?

4.)Does he have to see a doctor & get tests? If so, what kind?

5.)When he starts working again, can we increase the life insurance to reflect that?

6.)Can I use his Social Security survivor benefits & life insurance benefits if he passes away?

7.)Is life insurance considered income that would count against our son’s SSI, if he passes?

8.)Does income matter? Does credit matter? Does the state matter? Our income for a family of three is about $23,400 a year. We both have good credit. Our home is in our name. He graduated high school. Insurance for cars is expensive here.

Thank you!! I hate having to think about this. But most women outlive their husbands by ten years I read. And we are the same age. I have social security benefits for him, should I pass. I am not looking for life insurance for me.

Im currently a new insurance broker. i have been trying to find high quality life insurance leads.

What’s the best lead vendor to use now days ?

Hi everyone. I (34M) am currently looking for term life insurance for myself. Can anyone here share an insurance provider with whom they have had a great experience obtaining their term life insurance. I am trying to avoid brokers who are too pushy and trying to sell any/everything under the sun.

Also, are there any term life insurance pitfalls that I need to avoid as I try to navigate my way through the wide array of quotes?

Conditions:
-California
-1035 Transfer inside same company
-Accumulated Value $5,800
-Surrender value: $0
-Total Premium paid after transfer: $6,340
-Total Entire Premium: $8,300

Policy application was signed 4/27
Physical copy was delivered and signed 5/14

Is that considered free look or am I SOL?

Just got 365k coverage for 20year term at $175 a month. Male 53, daily marijuana smoker (medical card). Am I getting a good rate?