TA: GVUL
10-15-2023, 01:13 PM
#31
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Joined APC: Mar 2019
Posts: 934
Originally Posted by RonRicco
Exactly. Not a fan of indexed annuities or most of the non term life insurance schemes… but a premium paid by the company potentially makes it a different animal. Hard to make a real judgment until we get all the details.
10-15-2023, 01:35 PM
#32
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Joined APC: Sep 2011
Position: Hates Commuting
Posts: 894
Originally Posted by PilotWombat
Why, or why not, would you choose one over the other?
The more complicated bits are where information has been sorely lacking. In essence, it's a whole life policy funded by pre-tax money. Where it gets interesting--and where I'm not nearly smart enough to figure optimum strategy--is that your basis includes ALL premiums paid, to include those paid on your behalf (i.e., by the company). Any additional money you put in, only the gains are taxable--and those gains are offset by that total premium. This is the part where I want someone WAY smarter than me to analyze....
10-15-2023, 02:12 PM
#33
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Joined APC: Jun 2019
Position: Currently freeloading
Posts: 525
Originally Posted by RonRicco
Hard to make a real judgment until we get all the details.
https://www.metlife.com/gvul/DeltaAirLines/
10-15-2023, 02:43 PM
#34
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Joined APC: Jan 2014
Posts: 1,892
Originally Posted by PilotWombat
I didn't realize so many people didn't get/see the email. I don't mean that as a swipe, it just means some of the responses make more sense now, lol
https://www.metlife.com/gvul/DeltaAirLines/
https://www.metlife.com/gvul/DeltaAirLines/
10-15-2023, 09:52 PM
#35
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Joined APC: Apr 2007
Posts: 4,464
Originally Posted by PilotWombat
I think both of you guys are missing the point of the question. This isn't about whether whole/universal is better than term in general, or on the open market. The question is about our new choice in company paid insurance, negotiated under C19 (PWA 25.G.10 if you need the reference). We get to choose between regular term life, or GVUL, and the death benefit is the same (at least originally). Why, or why not, would you choose one over the other?
After reviewing the data from the links in the 9/27 Flt Ops email. It appears the GVUL policy provides the same death benefit amount with lower imputed income. On that basis it looks like a better option than the group term option. The jury is still out on the investment portion.
10-16-2023, 04:13 AM
#37
Roll’n Thunder
Joined APC: Oct 2009
Position: Pilot
Posts: 3,563
Originally Posted by Planetrain
Q1. Is the current company paid life insurance death payout taxable or tax-free income?
Q2. Is GVUL death payout taxable or tax-free income?
Could make a difference…
Q2. Is GVUL death payout taxable or tax-free income?
Could make a difference…
Edit: This website also clearly states that both the current and GVUL payouts are tax free. It also says that the GVUL cash value payout is tax free as well.
https://www.metlife.com/gvul/DeltaAi...parison-chart/
10-16-2023, 04:16 AM
#38
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Joined APC: Jun 2009
Position: Captain
Posts: 822
Originally Posted by PilotWombat
I didn't realize so many people didn't get/see the email. I don't mean that as a swipe, it just means some of the responses make more sense now, lol
https://www.metlife.com/gvul/DeltaAirLines/
https://www.metlife.com/gvul/DeltaAirLines/
