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Originally posted by Mmmm, Burger (C.J.)
My sense of them is that they are suited principally for someone who is rich enough to get his financial advice from a paid advisor not an internet chat board.
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Oh, snap!
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Even then, I'm suspicious of a complicated financial product that relies on tax-favored status of deposits and withdrawals, combined with actuarial calculations, in order to be more attractive than standard investment in a 401(k), IRA, 529, or other more standard savings vehicles.
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Because my retirement is effectively fully funded, and people in my line of work are at risk of being poor as churchmice during their working years and having an embarassment of riches in retirement, those other investment vehicles are not as attractive, with the possible exception of the 529 plan.
When I called it a narrow gate, I was talking about the fact that the tax benefits are lost if you spend the cash on anything other than education. A VUL has the advantage of the feds not caring what you spend it on, if you need to access the cash. But my mind isn't made up, which is why I've asked y'all.
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