IA financial

[jabjab]

Has anyone dealt with them in terms of resp set up and permanent life insurance?

When I looked them up on reddit I got alot of negative feedback as they are linked wtih world financial group. I had a meeting with a rep and their resp funds actually out perform alot of the Vanguard funds I was going to buy for resp. Is there a a catch to this company?

[Xtrema]

I swear other than nzwasp is white living with Asian mother in law and you are not and living with your mother (allegedly), I swear you 2 are peas in a pod.

[killramos]

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I swear other than nzwasp is white living with Asian mother in law and you are not and living with your mother (allegedly), I swear you 2 are peas in a pod.

Plot twist. He’s married to nzwasp

[rage2]

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Plot twist. He’s married to nzwasp

I support this storyline.

[Buster]

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Has anyone dealt with them in terms of resp set up and permanent life insurance?

When I looked them up on reddit I got alot of negative feedback as they are linked wtih world financial group. I had a meeting with a rep and their resp funds actually out perform alot of the Vanguard funds I was going to buy for resp. Is there a a catch to this company?

They are all a big conglomerate. IA agents are independent, and dont have much similarity to WFG.

[jabjab]

But are they legit? When they showed me their funds performances they were very good even with the the high MERs

[vengie]

Fucking fuck. lol.

It's definitely velcro shoe day.

[ThePenIsMightier]

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Plot twist. He’s married to nzwasp

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They are all a big conglomerate...

Facts

[ExtraSlow]

I don't even understand the question...

[statick]

Long-term, IA's performance for RESP is fairly average, but the fees are higher. The representative is definitely incentivized to show you that their performance is better than other ETFs, so they may well be selective in what & how they're showing you the comparatives. Ultimately, there's no "catch" other than overpaying in fees for mediocre performance, similar to how you'd overpay in fees by walking into your local bank branch (though I think IA's fees may be higher).

I'm not sure what your reason would be for getting a permanent life policy on your child. I'm guessing the salesperson from IA said something along the lines of how this works as a secondary RESP, or an investment vehicle that they can borrow against when buying their first home in twenty years. In theory, this could be correct, but as I elaborated on in your other thread, there are probably better ways to deploy your investment capital.

One positive thing I can say for IA is that their term life insurance pricing is rather competitive, and the actual coverage you get isn't compromised.

[SJW]

Is jabjab fully equipped to live on his own and make decisions? Seems like no.

[jabjab]

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Long-term, IA's performance for RESP is fairly average, but the fees are higher. The representative is definitely incentivized to show you that their performance is better than other ETFs, so they may well be selective in what & how they're showing you the comparatives. Ultimately, there's no "catch" other than overpaying in fees for mediocre performance, similar to how you'd overpay in fees by walking into your local bank branch (though I think IA's fees may be higher).

I'm not sure what your reason would be for getting a permanent life policy on your child. I'm guessing the salesperson from IA said something along the lines of how this works as a secondary RESP, or an investment vehicle that they can borrow against when buying their first home in twenty years. In theory, this could be correct, but as I elaborated on in your other thread, there are probably better ways to deploy your investment capital.

One positive thing I can say for IA is that their term life insurance pricing is rather competitive, and the actual coverage you get isn't compromised.

The life insurance quote was pretty good, 104 bucks a month for 1M coverage and I'm 42.

Some of the funds she showed me on the zoom appointment were doing 12 to 18 percent returns net of MER.

I don't think I'll be doing any permanent life. Just term and focus on maxing out tfsa and RRSP

[shakalaka]

I have a couple of universal life polices with IA and whole life with equitable life. Both have + and -, but overall IA is definitely not bad at least on paper in terms of return. Rest, I guess time will tell. All I can say is, that you need to trust your agent big time to direct you in the right direction. My guy chased me around for 6 months before I gave him the time of the day and likely another 6 months before I got my head around doing anything. A couple years into it, I wish I had done it a lot sooner and with higher amounts, but it is what it is.

[jutes]

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Fucking fuck. lol.

It's definitely velcro shoe day.

with all the crayons jabjab eats, he's def a shoe-in for the US Marines.

[Xtrema]

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I don't think I'll be doing any permanent life. Just term and focus on maxing out tfsa and RRSP

This is the way.

End of the day, investment historic performance chart is just sales material. Past performance is no guarantee of future results. There are a lot of variables.

[Buster]

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I have a couple of universal life polices with IA and whole life with equitable life. Both have + and -, but overall IA is definitely not bad at least on paper in terms of return. Rest, I guess time will tell. All I can say is, that you need to trust your agent big time to direct you in the right direction. My guy chased me around for 6 months before I gave him the time of the day and likely another 6 months before I got my head around doing anything. A couple years into it, I wish I had done it a lot sooner and with higher amounts, but it is what it is.

There are firms that actually fund the premium for permanent life policies. You just pay the interest, and get a rather large upside on estate planning by sheltering the investment gains behind a life policy, which is untaxed at death. The financing company takes the cash value of the policy as collateral. Eventually, the "investment" portion of the policy has gains which exceed your interest charges, the whole thing becomes self funding, and you stick it to the tax man in gloriously satisfying fashion.

[ganesh]

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There are firms that actually fund the premium for permanent life policies. You just pay the interest, and get a rather large upside on estate planning by sheltering the investment gains behind a life policy, which is untaxed at death. The financing company takes the cash value of the policy as collateral. Eventually, the "investment" portion of the policy has gains which exceed your interest charges, the whole thing becomes self funding, and you stick it to the tax man in gloriously satisfying fashion.

Can you share some info on the firms that do this please?
If you are uncomfortable in sharing it here you can PM.
Thanks

[shakalaka]

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There are firms that actually fund the premium for permanent life policies. You just pay the interest, and get a rather large upside on estate planning by sheltering the investment gains behind a life policy, which is untaxed at death. The financing company takes the cash value of the policy as collateral. Eventually, the "investment" portion of the policy has gains which exceed your interest charges, the whole thing becomes self funding, and you stick it to the tax man in gloriously satisfying fashion.

Yup. My guy has told me about this as well and we are working on this at the moment. Only caveat with this based on what I have been told is, the minimum investment amount has to be at least 100K - whether in a lump sum or over a period of time before the financing companies will start funding on your behalf for any future premiums. But yea essentially if doing 100K/yr right now, in 20 yrs, based on current market, the chart was insane where my life insurance component would be in 15 mil plus and cash withdrawal portion somewhere half of that. After 20 years, if you don't want the lump sump, the graph was showing I could be withdrawing 200K/yr for 30 years after the age of 58 (20 yrs from now). Sounds pretty insane - of course variables are there so gotta be mindful of that.

[pf0sh0]

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There are firms that actually fund the premium for permanent life policies. You just pay the interest, and get a rather large upside on estate planning by sheltering the investment gains behind a life policy, which is untaxed at death. The financing company takes the cash value of the policy as collateral. Eventually, the "investment" portion of the policy has gains which exceed your interest charges, the whole thing becomes self funding, and you stick it to the tax man in gloriously satisfying fashion.

Have you (or anyone) had experience doing this with someone who is already older in age (70+)?

[brucebanner]

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I support this storyline.

Like same IP support?

Woah.