Insurance agents get a lot more commission from selling whole life when compared to term. To me it does not seem like the best investment for you money as you will surely earn little or no interest on your investment. It has some role in asset protection, but to me FLP's and trusts are better instruments.

Zip Code: dr_ericmiller@yahoo.com

Eric-

You are correct in stating that "Insurance agents get a lot more commission from selling whole life when compared to term".

However, it is not based on the percentage of commission being higher - it is simply based on the premiums being larger. In fact, the commission that an agent earns on a term insurance sale (on a percentage basis) can be substantially higher compared to Whole Life Insurance.

While life insurance does play a role in asset protection, it should certainly not be the only reason that a policy is recommended or purchased.

As for your statement that "it does not seem like the best investment for your money as you will surely earn little or no interest on your investment", that is simply not true.

In fact, by properly coordinating and integrating whole life insurance with other assets (including those in FLPs) you can enjoy increased access, flexibility, and control over your wealth throughout your lifetime. This culminates with retirement options that may otherwise not be available.

It is for these reasons that whole life insurance should be the heart of a physician's financial plan.

Larry

Zip Code: lkeller@physicianfinancialservices.com

Larry is absolutely correct. I have said basically what he did in some other posts some time ago.

Whole life insurance is a VERY misunderstood financial tool. When laid out in an apples-to-apples comparison with other basic financial products, it compares extremely favorably. In many cases, its guarantees will outstrip those of riskier invstements.

Whole life is also many times sold for the wrong reasons by people who don't understand its power.

Don't be turned off by a commissioned product, though. ALL financial products have some sort of compensation attached to them in some way, either directly or indirectly. The insurance industry is just out there in the open for all to see rather than buried in a prospectus.

Larry seems to get it, though. You might want to send him the plan the other guy put together for a second opinion.

Jim B.

Zip Code: jboylecpa@yahoo.com