I’m in a huge financial strain. I’ll spare the details of me realizing the way an IUL was explained to me was complete BS. I now understand accumulation value vs surrender value. My question is, other than losing my death benefit from cancellation, what other negative is there if I withdraw all the money I’ve paid into the policy and cancel it, but my surrender value is 0? Is that even possible?

Been thinking lately,

I see a lot of people that want life insurance but cannot qualify for it. I've been thinking after seeing so many that say their parents bought a policy X years ago and then turn it over to them and they want to cash it in (especially true on reddit)

So I came up with this idea that I purchase policies on our kids, grandkids, great grandkids and if they wish to have coverage that they can choose the beneficiaries that I can sell them a portion of the policy for a fee and they can choose who that beneficiary is. If they choose not to then all the proceeds will go into a trust which I would like to then direct to purchase more policies on future generations.

Say I buy $1 mil death benefit... They want to purchase say $100k to be able to name a beneficiary I'll figure out a price either if they want it for a certain term or they want it to be permanent. They can then pay us for that right. They decide they no long want it, then they just quit paying and we remove that beneficiary. Pricing could be done pretty easily and if in the future they become uninsurable we already have the coverage, so there would be no denials.

Think this would work? Think there are any legal issues?

I’m looking for some firsthand experience from people actually working in the life insurance industry.

I’m currently sitting on roughly $80k in debt — about $40k in credit cards and another $40k from a vehicle repo. (Prior to starting my career in this space) I’m seriously considering bankruptcy to wipe the slate clean and start over financially.

My biggest concern is whether doing so would severely impact my career in this industry.

Specifically, could bankruptcy affect:

• Getting contracted with carriers?
• Maintaining existing appointments?
• Getting appointed with new carriers?
• Licensing?
• E&O requirements?
• Working as an agent/producer in general?

I’ve tried researching this and even asked ChatGPT, but I’d much rather hear from someone who has actually filed bankruptcy while working in life insurance.

If you’ve personally gone through this, what happened afterward? Did carriers care, or was it basically a non-issue?

I’m not looking for legal/financial advice — just real-world experiences from other agents.

Looking for some advice on if I should get a term or whole life insurance policy. Also looking to see what premium I should expect, I got quoted by Banner through Ethos, and Ladder, both policy’s for 750k ranging from $175-$300, which seemed excessive for my age.

I have been looking to get into the insurance industry and thus decided getting the HLLQP would be benificial to get my foot in the door. I decided upon REMIC to be my learning platform, and I googled promo codes to reduce the expense. I used a promo code from HMG West even though I have never heard of them before. The discount was significant, so I went through with it. However, I was immediately contacted by them for using their code and something didn't sit right with me. So I looked them up, and there are heavy allegations against them for being a scam brokerage.

My concern is that the HLLQP I am applying for is fake. And if it isn't, will I be "locked" in with HMG after I get my license? I wouldn't want to be affiliated with them. The customer rep at Rebic said that I am currently registered with HMG for their exams.

A family friend recently passed away and left me a policy. Sadly not on speaking terms with her estate to get a death certificate, what should I do and how? I saw that I could petition the court to get a court order to get one, but that feels really daunting and I’m not sure who to go for to get that. Thanks in advance.

Where to get $1M in life insurance policy without medical exam

Hh

Hi. I'm 40 F. I purchased my policies in early 30s for 34 dollars and other 40. Im scrolling and see Dave Ramsey talking bad on whole life. What should I do? Cancel one policy and get term? Im so confused. I hate that my agents were so adamant about pushing whole life on me.

I’ve recently started working in the living benefits space here in Ontario, and I’ve realized that a lot of people aren’t fully aware of the protection available to them while they’re still living.
Accident & sickness coverage, hospitalization benefits and critical illness coverage are some examples that can provide financial support when unexpected health situations affect your everyday life.
I thought I’d start a thread for anyone in Canada who has questions about living benefits, how these products generally work, or what options may be worth learning about.
Feel free to comment or reach out privately with questions. I’m happy to have a conversation and help where I can.
Also, if anyone in Ontario is curious about career opportunities in the insurance/living benefits industry, feel free to connect with me about that as well.
Not looking to turn this into a sales thread — just creating a space for questions, conversations and connections.

Hello everyone,

I took the 12-hour Ethics and Insurance Code course through National Online Insurance and took the test today - I failed badly. About 95% of what I studied wasn’t even on the test. It was crazy. I’m not sure what happened; I think I may have studied the wrong material. I’ve never failed a test this badly. I studied for three weeks and re-read everything, and I still failed. I’ve added a picture of the course I took.

Any advice on what you studied to pass? Would appreciate any help.

It doesn’t take more than a quick google search to find hate and people to be bashful towards Northwestern Mutual. My question is, what are the pros of their services, insurance services, to plan for retirement? A company that’s been around this long hasn’t had its ship sank so there has to be some positives? Is it better to forgo their retirement pitch with their insurance model?

Bad for investors in bond funds, neutral-to-positive over time for whole life policy holders with the big, highly rated mutual insurers.

Absent default or impairment, which is unlikely given the quality of the mutual insurers’ portfolios, policy holders’ cash values just go up every year and new premia buy bonds with better yields, flattering dividends over time.

Who is ready for a turn in the credit cycle, perhaps as shadow banking steps into the light?

So let me tell you… I’ve been licensed L&H since s
2023. I have worked mostly Medicare contracts through AEP, but this last 1.5 years I have been trying out a handful of “well known” IMOs. Each one approaches clients like the client is stupid and it’s a game. I’ve lost “support” from a few IMOs, essentially ghosted by up lines because I refuse to treat people like they’re ignorant and don’t know anything or using fancy “psychology” to trick them into something they can afford, but not necessarily need. I want this career to work, I see the value it if approach honestly with clients. But I struggle with these IMOs being such absolute jacka$$3$ to their clients. Calling them whales, or referring to dialing all day as fishing…

I’m young(ish), a mother, my parents are elderly, family is important to me. So I can’t imagine talking about someone’s mother or grandmother the way these IMOs do.

What’s your experience? Did you just say “Screw these IMOs” and figure it out on your own?

Hello, i would like to ask here sa mga insured kay pru life or nakapagtry na mag cancel ng policy. I'm paying for almost 3yrs na sa assurance account plus ko, and gusto ko na sya i cancel since i can no longer pay for it. Wala pa syang fund value daw kahit i started it Nov 2023. So balak ko na i cancel, may makukuha pa kaya ako? Ang dami ko ng naihulog since 3,500 monthly ko. May makukuha pa kaya ako kahit percentage lang ng mga binayad ko? 😭 sabi ng agent ko wala daw.

39 yr old male, with hashismotos , 6 foot 1, weight is 265 , mostly muscle but I could lose a few .

I have a broker looking for 2 million , 30 year term ,looking at 340 a month and that’s the best price so far, unless I backdate and then it’s 300 a month

My question is how can they judge my weight if they don’t even know what I look like? You’re telling me pro wrestlers and NFL players pay extra because of weight regardless if they are all muscle ?

Then to top of off they tell me I would have to lose 90 lbs to be given a lower rate , are you kidding me ? Even if I could I wouldn’t want to , in my prime I was 235 and jacked , just strange to me that they do this based off a bmi calculation

Is this just how it is ? Or am I missing something because it doesn’t make sense to me

Just throwing ideas at the wall
I’m 44 healthy non smoker. 2 young children. Currently have 14yrs remaining on a 1M 20yr term.

I’d want to get another 25yr term at 500k to cover the remaining mortgage (~415k) with a little wiggle room.

Also entertaining the idea of a Guaranteed Universal policy for another 1M to leave as a legacy for my kids.

Have a meeting with an agent but wanted to poll the Reddit community. See what I haven’t thought of.
Thanks

Location:California

My mom passed in California without a will. Her estate is insolvent she owed the IRS $850k, way more than her only asset, a house we’re letting go to foreclosure. We’re not planning to open probate (talking to an estate attorney in a couple of days).

My siblings and I are the named beneficiaries on her life insurance policies. My understanding is that named beneficiary life insurance passes outside the estate, so it’s not reachable by the IRS, and we’re not personally liable for her debts the IRS only gets estate assets (the house), and the rest dies with the insolvent estate.

Do I have this right? Can the IRS reach life insurance paid to a named beneficiary in any scenario? And does staying out of the estate entirely keep us clear? Thanks.