Roth IRA sIngle premium deferrred income?

[entrep1776]

I have my life & health license.

Last year I did $5,500 in a Roth IRA that I used to buy Amazon stock through Fidelity.

I'm 47. I was thinking i wanted to buy an insurance product. I want something that pays me for the rest of my life starting at age 77. Why? Just would give me something to look forward to & i hope I live a long life & I want to be able to tell future clients that I have insurance products.

I'm not contracted with a carrier or IMO.

What product should I buy? & taking in to account my commission.
Any problem "self dealing"?
Could the insurance company go out of business through maybe something similar to the Great Depression?
Can I get contracted/& done in time for the April 15th deadline?

Many Thanks.

 

[DHK]

What product should I buy? & taking in to account my commission.
Any problem "self dealing"?
Could the insurance company go out of business through maybe something similar to the Great Depression?
Can I get contracted/& done in time for the April 15th deadline?

Many Thanks.

I try not to talk about product recommendations, unless it's simply not a suitable fit. Plus, there may be state-specific issues - particularly with California, New York, Florida, and others.

Self-dealing has to do with placing securities transactions for yourself ahead of your clients. Insurance contracts have no securities in them, therefore a non-issue.
Self-Dealing

How safe are insurance companies? This is a decent article to review:

Are Life Insurance Companies Safe? - Bank on Yourself

 

[entrep1776]

Are Life Insurance Companies Safe? - Bank on Yourself

Thanks. Helped build my confidence that I would get paid in 30 years.

Although still looking for a product. I'm in Illinois.

Someone on a past thread said IUL was good investment especially considering his commission.

 

[DHK]

An IUL may be treated LIKE a Roth IRA for taxes, and in my opinion, is superior to a Roth IRA long-term with continuous premiums and flexibility for accessibility... but it's not a Roth IRA.

 

[entrep1776]

An IUL may be treated LIKE a Roth IRA for taxes, and in my opinion, is superior to a Roth IRA long-term with continuous premiums and flexibility for accessibility... but it's not a Roth IRA.

Why is it better?

 

[DHK]

Each of these videos will help you understand permanent life insurance in a new way, whether it's whole life or IUL, the principles apply as long as you properly structure the policy.