Northwestern Mutual Whole Life

[racelari]

Unfortunately before I learned about WCI I was part of the problem back in 2011 my last year of residency at NYU I was the resident representative to the GME committee and had allowed financial companies, including NWM, to sponsor dinner presentations whether at NYU or at some fancy NYC restaurant. My NWM "advisor" was a high school buddy of mine so of course I let him have access, but also had AXA Advisors, Mass Mutual, etc, all touting the benefits of whole life insurance. I wish I had not done this but I didn't know any better.

[jfoxcpacfp]

Unfortunately before I learned about WCI I was part of the problem back in 2011 my last year of residency at NYU I was the resident representative to the GME committee and had allowed financial companies, including NWM, to sponsor dinner presentations whether at NYU or at some fancy NYC restaurant. My NWM "advisor" was a high school buddy of mine so of course I let him have access, but also had AXA Advisors, Mass Mutual, etc, all touting the benefits of whole life insurance. I wish I had not done this but I didn't know any better.

Just curious - is he still your buddy? NWM and a few others are so deeply ingrained in training institutions, it is really disheartening.

[Ykcor]

Two NWM agents bugged me first 10 years in practice in our small town. Hated to be rude to them as one was preacher's wife and other was a friend of my brother. Finally they just stopped calling.

[The White Coat Investor]

I bought a 500k whole life policy in 1998. Cancelled it in 2006. Spent a little over 45K. Got back 6k? Oh well shrug.

That's a particularly bad case. It usually isn't that bad. Why was yours so terrible? I would have expected you to get back $30K+.

[AR]

Two NWM agents bugged me first 10 years in practice in our small town. Hated to be rude to them as one was preacher's wife and other was a friend of my brother. Finally they just stopped calling.

I think I've posted about this before, but I enjoy engaging with these people when time permits. I just keep poking holes in whatever bs they come up with and explaining why they're wrong. I keep it very polite and calm. Just stick to the facts. Last couple of times I've scheduled calls when I was waiting at an airport and when I was on a long road trip on my own. In my most recent encounter, after an hour, the rep basically hung up on me.

[F0017S0]

I think I've posted about this before, but I enjoy engaging with these people when time permits. I just keep poking holes in whatever bs they come up with and explaining why they're wrong. I keep it very polite and calm. Just stick to the facts. Last couple of times I've scheduled calls when I was waiting at an airport and when I was on a long road trip on my own. In my most recent encounter, after an hour, the rep basically hung up on me.

In grad school they would take us to one-on-one lunches. Good way to get fed at a nice place while not having to tap graduate stipend money…

[jfoxcpacfp]

In grad school they would take us to one-on-one lunches. Good way to get fed at a nice place while not having to tap graduate stipend money…

Unless you were even slightly gullible or had not learned about the reason they were hustling you🤷♀️. For many, that is a very expensive lunch that keeps on costing for the rest of their lives.

[F0017S0]

Unless you were even slightly gullible or had not learned about the reason they were hustling you🤷♀️. For many, that is a very expensive lunch that keeps on costing for the rest of their lives.

Oh, yes: I was very fortunate. I listened to my gut when he started getting very pushy (“I have the paperwork right here! We can get your policy in force today!”) with his fancy graphs and charts “tailored to [my] situation.” Just didn’t sit well with me and I didn’t understand what he was selling, so I enjoyed my meal instead and ejected as quickly as I could…