I've had my whole life insurance for 7 years now. The annual premium is like $9800 and my death benefit is 2.9M. Every year I pay my annual fee my death benefit goes up. This year I asked my whole life person about if I can just have the dividend pay for the annual fee's as I have like 200k in there at this point. She sent me back a video explaining why that wouldn't be smart and some IRS law... but I don't trust what she says at this point and I feel like I'm being tricked.
Every year the supposed money I'm making is buying more death benefit which I don't need. The 5.5% dividend should cover my annual fee and then some so I'm wondering if anyone has any guidance.
Submitted January 22, 2024 at 05:35PM by lttlmght https://ift.tt/cOvTHxp
