 |
|
|
|||||
| « Previous thread | Next thread » |
Can someone help me with this. Do I have to invest or buy insurance
only from the company that my financial planner works for?
Thanks in advance
Kevin
On Jun 29, 7:02 am, Kevin <k...@g...com> wrote:
> Can someone help me with this. Do I have to invest or buy insurance
> only from the company that my financial planner works for?
>
> Thanks in advance
> Kevin
No. And if that's what your financial planner tells you, I'd fire him/
her immediately.
>> Can someone help me with this. Do I have to invest or buy insurance
>> only from the company that my financial planner works for?
>>
>> Thanks in advance
>> Kevin
>
>
> No. And if that's what your financial planner tells you, I'd fire him/
> her immediately.
Fire him regartdless. Financial planners are of no value whatsoever. Do
your own planning.
>
When you buy life insurance, you want coverage that fits your
needs.First, decide how much you need - and for how long - and what
you can afford to pay. Keep in mind the major reason you buy life
insurance is to cover financial effects of unexpected or untimely
death. Life insurance can also be one of many ways to plan for the
future.Next, learn what kinds of policies will meet your needs and
pick the one that best suits you. Then, choose the combination of
policy premium and benefits that emphasizes protection in case of
early death, or benefits in case of long life, or a combination of
both.It makes good sense to ask a life insurance agent or company to
help you. An agent can help you review your insurance needs and give
you information about the available policies. If one kind of policy
doesn't seem to fit your needs, ask about others
Jeff McLeod, LUTC
800-286-1812
http://www.annuitydefinition.com/
On 2009-07-02 13:01:50 -0700, annuity <M...@g...com> said:
> When you buy life insurance, you want coverage that fits your
> needs.First, decide how much you need - and for how long - and what
> you can afford to pay. Keep in mind the major reason you buy life
> insurance is to cover financial effects of unexpected or untimely
> death. Life insurance can also be one of many ways to plan for the
> future.Next, learn what kinds of policies will meet your needs and
> pick the one that best suits you. Then, choose the combination of
> policy premium and benefits that emphasizes protection in case of
> early death, or benefits in case of long life, or a combination of
> both.
I should think one very important point should be added to the list:
Learn about differences in costs of insurance products offered by
different companies. Then shop around, being careful to compare
equivalent products and not apples to oranges. Examine closely the
costs of the indexing feature of annuities in comparison to growth
possibiities of other financial products. Make good use of the
internet. Ask many, many questions and do much research before you buy.
Kevin <k...@g...com> writes:
> Can someone help me with this. Do I have to invest or buy insurance
> only from the company that my financial planner works for?
The short answer is "no". You may buy insurance from anyone
who sells it. Just like you may buy securities from any other broker,
even if you already have a brokerage account in one place.
The real questions, though, are more complicated.
What kind of insurance are you talking about? Are you sure
you need it?
Be wary of anyone who calls himself a "financial planner"
yet who is actually an insurance salesperson. It's possible
to get good financial planning advice from a salesperson, but
bear in mind that such a salesperson has an inherent conflict
of interest - the policies which may make him the most money
may not be in your best interest. There are certainly some
situations where complex insurance products (ie. VULs, VAs,
etc) may make sense, but they are relatively few -- unless
you are asking someone whose primary job is selling those
things.
Before committing to a huge, long-term ongoing cost (ie. almost
any life insurance policy - especially those which build cash
value and have huge surrender charges and expensive and/or
mediocre investment options within them), you may want to
consult with a fee-only advisor who has nothing to gain from
whether you buy that expensive policy or not.
Or at a minimum, post here with a bit more detail (you don't
have to reveal any specific personal information).
--
Plain Bread alone for e-mail, thanks. The rest gets trashed.
No HTML in E-Mail! -- http://www.expita.com/nomime.html
Are you posting responses that are easy for others to follow?
http://www.greenend.org.uk/rjk/2000/06/14/quoting
B...@f...net wrote:
you may want to
> consult with a fee-only advisor who has nothing to gain from
> whether you buy that expensive policy or not.
>
What credentials should I look for in a "fee-only" adviser? What is a
reasonable rate for the fee? How do they bill? /investment or /hr or
/day or /session? How do I find them? How can I tell they are not
pimping some product?
Besides this Bernie Madoff guy who I hear is really good for a steady
return.
Chip
| « Previous thread | Next thread » |
FROM THE MODERATORS: Posting to misc.invest.financial-pl an
Treasury Guarantee Program (for money market funds)
Up