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Is anyone here familiar with National Life Group Insurance. An agent visited us and told us about a life insurance policy that can be used as a retirement account and as a college tuition account. Their website looks legit but when I called their 1800 number, I had to call a few times to get someone to pick up. Anyone know if they are legit?
you better get some good informed opinions on these plans . they generally are very full of fees and expenses to the point of making them quite poor choices.
anything that attempts to roll into itself more than one function usually does not work well on any of them.
keep in mind a life insurance policy is a product designed for dying and you are betting you will die .the insurer is betting you will live .
it is not a good product designed for living just because of how it works .
an annuity product is a bet you will live and is designed to function well if you live.the insurer is betting you will die.
these products are designed so the house wins.
anyone who attempts to roll these two opposite products into one is generally not offering you the best product for the outcome you want and you can generally do better buying the correct products for what it is you hope to accomplish...
with a handle bar moustache and trench coat i might add. lol
my biggest gripe is that life inurance sales people go to market trying to promote products that really do not perform well at other tasks that they really are not designed to do.
life insurance is life insurance ,it is designed to protect those you leave behind.
while you can claim it is a product with benefits if you live it is not designed for that and like any compromise it falls short of getting what you think you are paying for.
it is not designed so you come out ahead if you live. if that was the case every insurer would be out of business.
policies are computed so by age 100 or so every penny of the death benefit plus all the fees,commissions and expenses equal your premiums and decades of interest and dividends .
in fact many companies just mail you back a check at around that age and call it a day.
the only way you can get a bargain is by dying younger.
Last edited by mathjak107; 09-11-2013 at 03:20 AM..
I'm very aware of National Life and the history of the company. It is a very solid company located in Montpelier Vermont that began around the 1880s. I toured the construction of their "new" building back in the 1950s, and have a friend and classmate that just retired from the company. To the best of my knowledge, they have never had any serious issues. I suggest that you contact the main corporate location to verify that the agent is legit.
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