How is does variable life insurance work?

I went to an AXA financial advisor to plan for my retirement and he insists i get an flexible variable life insurance policy from AXA? Anyone have this insurance from AXA and how does it work? I personally want to put money on IRA's, but he is saying this is a better option for me. I am 29 and single. What do you think?

Asked By: Poorboy - 6/15/2007
Best Answer - Chosen by Asker
Not to be a jerk, but that financial advisor is an idiot. Actually, he's not an idiot, he's trying to make bunch of money by selling you a life insurance policy. I guarantee you he doesn't own a variable life policy. Maybe he doesn't have life insurance at all... More
Answered By: Doing the Right Thing - 6/15/2007
Additional Answers (4)
One reason he would want you to put your money in a VUL (Variable Universal Life) policy is because he makes higher commissions on a VUL than he would an annuity, mutual funds, stocks, etc... More
Answered By: angelabryant921 - 6/15/2007
VUL's are laden with fees. If you need life insurance, buy term insurance to cover your needs. If you need to invest for retirement, invest in good solid mutual funds inside of an IRA. NEVER MIX LIFE INSURANCE WITH INVESTMENTS!!!! In some states it's actually illegal to even associate VUL's with retirement plans... More
Answered By: Termite - 6/15/2007
HAHAHAHA.....All of the folks that just answered above, particularly the one right above me is lost! They argue for you to do your research yet they have failed to do theirs. There are over 2000 different life insurance companies out there, and there are ONLY three that you should be working with: Northwestern Mutual... More
Answered By: runnin_rebel07 - 6/16/2007
Number one, this is a highly questioned topic, try searching for other questions that people have asked before... More
Answered By: aaron p - 6/17/2007
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