[TxSteve]

thank you for taking the time to write that up Jimbo.

I've been tring to research through the internet; but; since i'm not really very knowledgable about insurances...a lot isn't registering.

i do appreciate your explanation though; i should check with him to see if he is maxing out his IRA or not. He is talking about a fairly significant amount of money.

He is 57 years old; just began this policy a few weeks ago; and says he will be withdrawing $140,000 per year when he retires at age 65. He says this money will be tax free; and that he will draw 140k FOR LIFE.

He has a history of being gullible - infomercials; scammed by contractors who began jobs but didn't finish them; in general a very well intentioned; but overly trusting guy.