Over illustrate and underfund or under illustrate and overfund?
Sorry if the title is weird, I'm new to the world of life insurance. I'm considering taking out an IUL policy with Ameritas and my agent illustrated at $2000 per month. I told her that I was really only comfortable at the moment with $750 per month as anymore might start to eat into my other investments and she said it's up to me but even at a $2000 illustration I only need to put in $215 per month to keep it from lapsing and I'm kind of in a weird position where my expenses will be quite low for the next couple of years so she said it's recommended we do it this way because early dollars do more for you so illustrate at $2000, fully fund for the first couple of years, and then when my expenses start to go up again, we can back it off a little. I'm not sure which is best, illustrate at $750 now and add more to the policy as I have extra money? Or illustrate at $2000 now and back it off once I'm ready to buy a house? Sorry if any of this doesn't make sense, i just started learning about permanent life insurance a couple months ago.
submitted by /u/kendall1287
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