I have had a couple meetings with New York Life where they kinda sold me on their 'Market Wealth Plus' and 'Secure Wealth Plus' policies where I could reinvest the RMD's I am required to take from my inherited IRA account. I like the fact it is A) Tax-Free while also B) fairly liquid (I can take money out, that will be deducted from the life insurance amount when I die) and C) predicted to make something like 8% per year.
I would love to know anyone else's opinion, pro's/con's, etc..
One thing I am concerned about is if I will qualify. I feel like I have a few disqualifying factors (overall I am pretty healthy but have been in ongoing treatment for opiate addiction - 11 years clean though - and I was honest about vaping and my father died of a heart attack last year). Does anyone know if it easier to qualify for these policies or if they would overlook these factors?
Submitted March 28, 2024 at 12:52AM by SFW808 https://ift.tt/Od9XyGY
