Absolute scam. I can’t help you find an article, but they have no concept of how an insurance policy works. I’ve seen the claims of how a $25,000 car only costs $5,000. I believe the technical term is 3-card-Monte

Bottom line for your mother in law is if you borrow from a bank at 6% or borrow from your insurance policy at 6% (generally speaking) there is ABSOLUTLEY no difference. Unless you count that it probably cost you $40,000 to ram into the life insurance policy to have the ability to borrow the $25,000, but the loan itself would be identical…again generally speaking.

They are preying on a market that has no business owning a whole life insurance policy of that size. It’s middle to lower market America of generally the $35-$70k house hold income and they are not in the market for a policy like that.

The pitch can be convincing as I listened to one of the online audio clips and the pitch was even throwing me off and I’ve been dissecting these products for many years. What they were saying was wrong, but I had to stop to follow the logic.

I **** seeing people ripped off. Feel free to either e-mail me or have her e-mail me.
— because if she bought into that she would be in a pickle….

You can ask this guy on NPR a question and maybe he will answer. You are right, it is just making money for the insurance guy.