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Reply to Question on Whole Life/Roth IRA Combo Product     
Old 06-14-2010, 11:48 AM   #1
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Question on Whole Life/Roth IRA Combo Product Question on Whole Life/Roth IRA Combo Product
Hey everyone,

I've been selling a combo whole/life Roth IRA product for a while now and just wondering if you guys know of any other carriers that have a similar combo product?

Thanks

-S
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Old 06-14-2010, 12:16 PM   #2
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Question on Whole Life/Roth IRA Combo Product Re: Question on Whole Life/Roth IRA Combo Product
Is this similiar to a Roth IRA that carries a small mortality fee or includes a free physical? If not, explain.

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  Reply With Quote to Question on Whole Life/Roth IRA Combo Product
Old 06-14-2010, 12:17 PM   #3
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Question on Whole Life/Roth IRA Combo Product Re: Question on Whole Life/Roth IRA Combo Product
Originally Posted by bigpremium View Post
Hey everyone,

I've been selling a combo whole/life Roth IRA product for a while now and just wondering if you guys know of any other carriers that have a similar combo product?

Thanks

-S
No, who do you use?
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Old 06-14-2010, 12:23 PM   #4
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Question on Whole Life/Roth IRA Combo Product Re: Question on Whole Life/Roth IRA Combo Product
so how does the product work??
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Old 06-14-2010, 01:25 PM   #5
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WinoBlues on Question on Whole Life/Roth IRA Combo Product - Insurance Forum
 
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Question on Whole Life/Roth IRA Combo Product Re: Question on Whole Life/Roth IRA Combo Product
I could be wrong, But am guessing we are in for some Spam and Eggs for breakfast.
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Old 06-14-2010, 01:52 PM   #6
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Question on Whole Life/Roth IRA Combo Product Re: Question on Whole Life/Roth IRA Combo Product
Oh most definitely considering that you cant put LI in an IRA...

And im not aware of any new tax codes pertaining to ROTHs that would change this
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Old 06-14-2010, 05:26 PM   #7
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Question on Whole Life/Roth IRA Combo Product Re: Question on Whole Life/Roth IRA Combo Product bigpremium is the thread starter for: Question on Whole Life/Roth IRA Combo Product

Sorry guys. I had to run out. The product is a modified Whole Life policy with an Annuity Rider that can be registered as a Roth IRA starting in the second year.

Do you know any other carriers that offer this?

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Old 06-14-2010, 06:13 PM   #8
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Question on Whole Life/Roth IRA Combo Product Re: Question on Whole Life/Roth IRA Combo Product
So, how long have you been selling your soul... I mean this product.

Its a bait and switch. I hate to break it to you but you are not selling Roth IRA's. You are selling Whole life policies and annuities, but making it look like you are selling Roth IRA's.

I wish there was an honest way to make a buck with these programs. Those postal employees really do need the financial guidance, but instead people are stealing thier retirements. Granted most postal employees had no clue as to what is going on with thier benefits and some aren't doing anything at all in regards to retirement, but I still don't thinks it cool and i am surprised these place haven't had a class action lawsuit brought against them.
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Old 06-14-2010, 06:15 PM   #9
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Question on Whole Life/Roth IRA Combo Product Re: Question on Whole Life/Roth IRA Combo Product
A 7702 plan?
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Old 06-14-2010, 06:17 PM   #10
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Question on Whole Life/Roth IRA Combo Product Re: Question on Whole Life/Roth IRA Combo Product bigpremium is the thread starter for: Question on Whole Life/Roth IRA Combo Product

Originally Posted by crons79 View Post
So, how long have you been selling your soul... I mean this product.

Its a bait and switch. I hate to break it to you but you are not selling Roth IRA's. You are selling Whole life policies and annuities, but making it look like you are selling Roth IRA's.

I wish there was an honest way to make a buck with these programs. Those postal employees really do need the financial guidance, but instead people are stealing thier retirements. Granted most postal employees had no clue as to what is going on with thier benefits and some aren't doing anything at all in regards to retirement, but I still don't thinks it cool and i am surprised these place haven't had a class action lawsuit brought against them.
Wow, I really am not sure what you are telling me? I haven't been selling for this company for too long, but long enough to know a lot about the product.

Can you explain to me exactly how we are "baiting and switching?" I definitely don't want to be doing anything unethical and am not experienced enough in this new market to see how this product could be unethical.

Please explain further so I can understand.

Thanks!
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