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|Subject: Variable Univ. Life Ins?||Date: 8/8/1997 12:24 AM|
|Author: westcoast||Number: 167 of 77568|
I'm being propositioned by a Variable Universal Life Insurance company
and they're telling me along with the untaxable compounding in stocks
I can also withdraw money when I'm older (it's a 'wash loan?' that supposedly counters any interest charges) tax free as well. Not to mention
the ability to put in more than $2000/yr (i.e. IRA).
This sounds too good, what's up? Anyone?
(PS. My own research shows that they only deal in mutual funds within the account and they charge an awful lot for the service--> $60 annual + 2% or $25 on all withdrawals whichever is lower.... I'm still researching it. My studies have also turned me towards something called Variable Annuity...
Any of this stuff useful to a 22yo?)
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