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krisandrich, you asked:

<< It is a good idea to over-fund these policies??

Variable contracts work best when they are "over-funded".

<< What else do you know about them?? >>

What can anyone begin??? There's a lot to know and certainly there's too much to really cover well in a place like this. Suffice it to say that you're dealing with a LIFE INSURANCE CONTRACT and these contracts should only be used if you have a need/want for any life insurance coverage.

<< We have already maxed out the 401(k)'s and the IRA's. Given this, do you think the variable life is a good deal? I still need tax strategies! >>

A variable life contract can certainly be a "good deal" IF it's a good fit to you and your situation(s), goals and objectives. You sound like you could be a very good candidate for a variable contract.

To get some good tax strategies, you should probably hire a good experienced financial planner . . . . and one who is also very familiar with life insurance contracts. Such a financial planner along with your accountant and attorney can be a great help to you in finding acceptable tax strategies. Yes, there'll be some cost, but that cost will far outweigh the benefits. Unfortunately, what I am suggesting is not the Foolish way.

As others have suggets, you may want to review some of the posting in the Fool's Insurance Folders.
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