VUL itself is just a product.

Whether that fits an individual's need, is subject to situation.
* Usually the first year (or more) cash value will be 0.
* It's for long term, at least 5. Starting from 7 or 10 years, it makes more sense.
* It's a serious commitment. The premium (in my personal experience) is N-fold if compared with a 30-year term, (If I remember correctly, a 30-year term was $900+/Y for 1M, VUL will be $2000-3000/M.)
* There is tax-defer status/benefit. The key is, the contract/coverage can't elapse/stop. IMO it fits more to high stable income doctors and attorneys.

Bottom line is:
* You need to separate "insurance coverage" from "investment vehicle".
* One has to separate the need for a) "kids young, all kinds of liabilities... until they go to college and primary mortgage is almost paid" (where term is perfectly fine), from b) estate planning (when you need WL, UL, VUL, etc.)

Products like VUL obviously has more "commissions". IMHO, if s/he doesn't care to explain (at least all above) to you, guide you to make conscious decision based on your personal situation/interest, only cares about pushing you sign the paperwork... then it's deceptive practice.

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• Right. -Morning3evening4- ♂ (0 bytes) () 10/03/2013 postreply 07:55:33