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Best argument for whole life over term

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Life Health Professional | 31 Jul 2015, 09:00 AM Agree 0
“Buy term and invest the difference” – if advisors had a buck for every time they’ve said that to a client, they’d be rich. So why aren’t their clients rich?
  • Troy | 05 Aug 2015, 09:38 PM Agree 0
    I agree wholeheartedly, as i have come up against this several times and have yet to hear from a client what their investment plan will be for the difference. I would like to know more about the study that was done. Is there a way to get that information?
  • M | 10 Aug 2015, 07:30 PM Agree 0
    How interesting that this "study" was sponsored by New York Life... obviously a totally unbiased conclusion... :(

    If you actually read the report, the issue is not with the concept - the math works in favor of BTID. The only reason it doesn't work is due to investor behavior - which is where you, as their advisor, come in. Keep them on track with their behavior and they will be wealthier several times over.

    As far as my clients, the vast majority of them have achieved far greater success than from their cash-value programs. The ones that didn't were just as likely to have dropped an expensive program as they were to drop the BTID program...
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