Reasonable-Program29 OP t1_iueky1h wrote on October 30, 2022 at 7:04 PM

Reply to comment by tnvolfan1 in Parents in IUL will it hurt them by Reasonable-Program29

I wish they had the information for retirement accounts and investments when they were younger but unfortunately, that is their situation. For them, they just want to leave something to us when they eventually pass and believe a Term policy isnt long enough of a time window.

tnvolfan1 t1_iug5ea8 wrote on October 31, 2022 at 1:45 AM

They are not alone. Unfortunately the United States ranks 14th in the world in financial literacy. I think an IUL has its place but this isn’t one of them. Your sister is doing more harm than good in this situation. Shame on her boss as well. I honestly think given your situation a fixed income annuity with an income rider is the best way to go. They can get an 8-10% guaranteed return per year for 10 years.