Manulife Investments
How to evaluate or choose an insurance package?
i got people from manulife, prudential and great eastern. all claiming theirs package is the best. Should i choose investment based or conventional?
I am an independent broker and I started in the business for New York Life. I would stay away form investment based life insurance. If the stock market crashes you could loose your life insurance, I saw this first hand when the tech stocks crashed in 2000. you should ask these agents to give you the pros and cons of Universal life vs Whole life vs Variable life (investment based). Each agent says theirs is best because that is all they can sell. I would use yellowbook.com to search for a life broker that can sell many different carriers. Things to look at in a policy, financial ratings of the insurance company, maximum expenses in the policy, minimum interest rate. Don’t be fooled by a low premium you may not have enough money in the policy in the future. You should also consider a term to 100 policy these are much cheaper which is why agents want you to buy a permanent policy. Again look for a broker.
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