Transamerica IUL: Surrender charge? Can someone help me understand surrender charges? My friend sold me an IUL policy in 2022. My monthly premium is $135. After reviewing the fees and thinking if this policy is worth it. I don’t think I should continue. I’m single and don’t have any dependents. I contacted Transamerica about terminating and they told me my surrender charge is $4k…

IUL Experts! Does a 24 your old need a policy? Hello, I am a 24 year old female. I am looking into getting an iul. I would like to use it to buy a house later on and for retirement purposes. It’s it smart to buy one now or waite until I’m a little older? I want a policy that i can max fund, have the least amount of insurance with the highest amount of returns. I know that some companies have…

How to invest? Transamerica IUL + LTC Hello I am 23 and freshly out of college and making decent money. I have no idea where to put my money and a coworker of mine told me about the Transamerica IUL with LTC. She signed me up for this stuff and now I have no idea if I made a bad call. Im looking for advice on how to cancel it if I need to and where to actually put my money to have i…

Transamerica IUL benefits vs not worth it Hi, Just want to get your thoughts I’m paying $180/month for an IUL with a $250,000 death benefit but the agent is insisting that this is a good IUL because it has living benefits such as critical illness, long term care and terminal illness benefits so even if I don’t die I can get benefits. And she’s saying I can withdraw or take loans from…

Any scenario where an IUL is a good idea? To be clear: I am not planning to start an IUL myself. I have a cousin who started an IUL through his father-in-law. He and his family told us all about how great it is and suggested we consider it too. After googling and searching here, it’s clear to me that this is not generally a good policy. I understand for multi millionaires it can be an a…

I’m stressed about saving for college for my kids. Just want money managed properly. IUL now sounds scary. Hi there, we have a IUL policy for my son. We put 50 bucks a month in, the minimum. It sounded better than a 529 because we aren’t sure our kid will actually go to college and then there will be no huge loss if they don’t. The IUL sounded great. It’s a slow burn growth account, but that’s what we want because we are all about long term slow grow…