Sell them what you want, not what they need.
Unfortunately, this happens A LOT in our industry.
Shady financial advisors will sell mutual funds, annuities, REIT’s, cash value life insurance — basically anything that might make more sense for them (in the form of making a commission) instead of the client.
This seems to be the case in almost every universal life insurance situation I’ve ever come across.
It’s often touted as a “great investment,” offering things like tax-free money just like a Roth IRA, guarantee of principal, on and on and on.
If you’ve been a reader of the blog, you’ll know I’m a firm believer that in the right situation, a financial product could work, but just like I see annuities being used inappropriately, the same applies to universal life insurance.