is300onyx wrote:
- quote -

My pleasure;

Since the contract is almost 8 years old, you should be nearing the end of
the "surrender charge "period. Look INSIDE the contract for that time span.

However, keep in mind, that as the ownership of the contract lengthens, as
the "surrender charge" decreases, the contract attains more value. The
PROBLEM remains though in BOTH the on-going monthly costs, as well
as the actions of "the market".
Cal Lester CLU

Cal,

Thanks for the reply. Actually, the super LOW $2k accumulated began
during the month of July, 1997. I'm not sure if <8yrs is considered
relatively new.
But to follow along with my other questions, you pretty much answered
them. Its making more sense to me.

Regards,
Dave

is300onyx wrote:
- quote -

Dave;

If you own a VUL, then any funds currently in the Cash Value Account
belong to you, and if withdrawn, would not be Income Taxable. HOWEVER,
if you only have $2,000 in the contract, then I would assume that it is a
relatively new contract, and you would be subject to HIGH surrender charges.
I suggest that you contact the company DIRECT, and find out EXACTLY
what the CURRENT value is, and what the NET value to you would be.

Cal Lester CLU

Hi all,


I hope this is the right place to ask this. Back when I was a dumb
financial idiot (teenager), I thought I had an opportunity to invest on

mutual funds at the time. But what I didn't know was that this whole
time, I was on a VUL.


I already have almost $2k in there, I know its not much, but I want to
redirect it to something else, like buying some stocks. What I'm
asking is, since this is taking out of my check after tax, can I just
request this money taken out without any penalties?

What's the best way to get out of it? And any advice on where I should
go with it?

I'd thought I'd ask here first before I consult those guys that sold me

this.


dave