From: "BMS" 
Newsgroups: misc.invest.financial-plan
Subject: Re: Variable Universal Life Insurance questions
Date: Sun, 9 Nov 2003 15:13:37 CST
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	=OiqZ
	tests=BAYES_01,MONEY_MAKING,PRIORITY_NO_NAME,QUOTED_EMAIL_TEXT,
	      REFERENCES,SUBJ_LIFE_INSURANCE
	autolearn=ham version=2.53

What is the purpose of the plan, that is what are you planning for.? IF this
doesn't make sense to you, either get them to demonstrate why it is or take
a walk if they can't.

Is the planner a CFP?

What else are they putting into the plan. If the VUL is the beginning, then
that should be the end of AMEX.

"X0r"  wrote in message
news:eedcf209.0311090926.4c901438@posting.google.com...
> I'm having American Express Financial Advisors prepare a plan for me,
> which I really think I need.  I'm not very financially minded at all,
> and I like spending money.  We've met a few times, and the last time
> they mentioned that they wanted me dropping $1000/mo. into their VUL.
> I'm *really* skeptical about this since I've never heard of anything
> good coming from dealing with life insurance; it's synonymous with
> "scam" in my mind (can't help it).  This is also over half the money
> I'd be investing on a monthly basis.  They likened it to a Roth IRA
> (from a tax/growth perspective), which I think I mostly understand,
> but they said I could use it for buying a house, a car, a boat, paying
> for education, living off of in retirement, etc.  That doesn't sound
> like life insurance to me.  I have a wife and a young son, so as I
> understand some of what I've been reading here, I'm a good candidate
> for life insurance.  I'm just wary of this whole thing, especially
> since it's being touted as a tax free money maker type vehicle.  The
> only thing keeping me going at this point is that it's American
> Express (TM), and not Bob's Discount Life Insurance or whatever.
>
> Am I being too cautious?  Is this a fine, upstanding plan?  I still
> think I should diversify my money a bit more.  I'll likely open up
> another account elsehwhere just to cover myself, but I'm worried about
> this VUL.  Any comments or advice?
>
> Thanks,
>
> -X
>