Newborn baby girl in New York life insurance deal!

[akenigsb]

I just got this great deal with my life insurance agent where for under $250 per year I was able to get my baby daughter a quarter of a million (250k) whole life insurance and after 20 years the cash surrender value  is over 15K! Guaranteed! 5k becomes 15k! After 30 years $7500 becomes over $30,000!
He told me this deal is going away in four weeks and you must jump on it now! If you give me your email address or phone number I can have his office contact you.  He is a very nice and honest broker! 

[Palm5]

Interesting new post. What's the max age for this?

[unavailable]

Officially best rate is for up to 1 year old. But I hear they can pass you up to 1.5

[hvaces42]

I just got this great deal with my life insurance agent where for under $250 per year I was able to get my baby daughter a quarter of a million (250k) whole life insurance and after 20 years the cash surrender value  is over projected15K! Guaranteed! 5k becomes 15k! After 30 years $7500 becomes over $30,000!
He told me this deal is going away in four weeks and you must jump on it now! If you give me your email address or phone number I can have his office contact you.  He is a very nice and honest broker!

Dont kill me because this is back of the napkin math...you double your money every 7 years at %. So they're  guaranteeing you what rate of return?
Biggest sucker bet ever is child life insurance policies.

[ShlockDoc]

Biggest sucker bet ever is child whole life insurance policies.

FTFY

[hvaces42]

FTFY

Touche

[henche]

I just got this great deal with my life insurance agent where for under $250 per year I was able to get my baby daughter a quarter of a million (250k) whole life insurance and after 20 years the cash surrender value  is over 15K! Guaranteed! 5k becomes 15k! After 30 years $7500 becomes over $30,000!
He told me this deal is going away in four weeks and you must jump on it now! If you give me your email address or phone number I can have his office contact you.  He is a very nice and honest broker!

I highly doubt any deal is going away.  Life insurance doesn't work by offering deals.

[hvaces42]

I highly doubt this is a deal.

FTFY

[Lou Bob]

I highly doubt any deal is going away.  Life insurance doesn't work by offering deals.

+1 LI doesn't have anything to do with deals.

[yos9694]

I don't know the details, but I know enough about life insurance to say this. Something in the OP is dead wrong. I'd bet anything on that. If I had to guess, I would say that the cash value numbers sound reasonable for whole life, but the premium sounds too low. My first instinct is that someone mixed up annual premium with monthly premium, but it's not off by THAT much, probably off by closer to a factor of 4.

It's totally possible though that the broker knows the pricing is changing for that company. It's common that when an updated version of an insurance product is about to be launched the brokers try to make a "firesale" of the old one.

Also, it's no chiddush that until your half birthday your life insurance age rounds down. 1.5 year old is a 1 year old.

[DMYD]

This deal is with Allstate!!!

[henche]

I just got this great deal with my life insurance agent where for under $250 per year I was able to get my baby daughter a quarter of a million (250k) whole life insurance and after 20 years the cash surrender value  is over 15K! Guaranteed! 5k becomes 15k! After 30 years $7500 becomes over $30,000!
He told me this deal is going away in four weeks and you must jump on it now! If you give me your email address or phone number I can have his office contact you.  He is a very nice and honest broker!

On quarterly compounding, it's an IRR of ~9.25% after 20 years. That's actually quite good.  I don't believe it. http://www.bankrate.com/calculators/savings/compound-savings-calculator-tool.aspx

[DMYD]

I don't know the details, but I know enough about life insurance to say this. Something in the OP is dead wrong. I'd bet anything on that. If I had to guess, I would say that the cash value numbers sound reasonable for whole life, but the premium sounds too low. My first instinct is that someone mixed up annual premium with monthly premium, but it's not off by THAT much, probably off by closer to a factor of 4.

It's totally possible though that the broker knows the pricing is changing for that company. It's common that when an updated version of an insurance product is about to be launched the brokers try to make a "firesale" of the old one.

Also, it's no chiddush that until your half birthday your life insurance age rounds down. 1.5 year old is a 1 year old.

-1 this isn't a mistake call your local Allstate agent and they can offer it to you.

[DMYD]

FTFY

And your saying that because?

[yos9694]

-1 this isn't a mistake call your local Allstate agent and they can offer it to you.

I don't have an Allstate agent, but apparently you do. So please get the quote on paper and post it here.

[unavailable]

I got the paperwork, but it doesn't let me upload file size is 481kb

[DMYD]

I don't have an Allstate agent, but apparently you do. So please get the quote on paper and post it here.

Ok will do that.

[DMYD]

I got the paperwork, but it doesn't let me upload file size is 481kb

send it to someone on whatsapp and let them resend it to you, and you should be able to upload it then.

[hvaces42]

On quarterly compounding, it's an IRR of ~9.25% after 20 years. That's actually quite good.  I don't believe it. http://www.bankrate.com/calculators/savings/compound-savings-calculator-tool.aspx

9% and guaranteed...i call Bravo Sierra. Back up a trailer and load me full.

[yos9694]

Ok will do that.

I got the paperwork, but it doesn't let me upload file size is 481kb

Are you using sock puppets? I'll PM you my email address.