Originally Posted by
Verdell
I'm curious about an argument FOR the current "Term" plan. Hypothetically, if the GVUL is the plan we always had, and the new plan being offered is the Term plan with it's higher imputed income/no side investment options/can't take it with you at retirement, what would be the argument for switching TO the term plan?
I'm curious because I can't think of a single reason.
100% agree.
The only "real world" example I see for remaining in the term plan is inertia--i.e., you "do nothing," you stay in the term plan. That's a pretty lousy reason (and, in your reverse hypothetical, that mindset would keep you in the GVUL, anyway), but I'll bet dollars to doughnuts that we have a substantial number of pilots do exactly that.
I guess there's also the trivial case where one has only the basic ($50K) amount of insurance, then GVUL doesn't apply....