Sorry ha, but it kills me when “financial advisors” advise their single, no dependents, low earning clients to “invest” in a VUL product. If these so-called financial advisors were really looking out for the welfare of their clients, then they would not push a VUL product and would instead recommend term insurance, if indeed the client needed life insurance in the first place.
If a person just wants to invest, has no dependents and has no estate to protect (bata pa nga eh, malamang walang pera yan), what’s the point of buying life insurance? And VUL to boot pa, which has historically been outperformed by other investment vehicles.
Wala lang, it really irritates me when I hear “financial advisors” touting the advantage of VUL products to someone with next to zero knowledge about investments, clearly taking advantage of that person’s naivete.
That’s why knowledge is key and I doubt I’ll ever have a future selling life insurance.
Here’s what Suze has to say about that: