September 18, 2014

139 Financial Pro Cast: You Can’t Sell THOSE Products?

139 Financial Pro Cast: You Can’t Sell THOSE Products?
Play

This is our second week of publishing the Financial Procast after going back to our original format of discussing various issues that have come in the world of finance. We sincerely hope that those in our community are enjoying listening to the episodes as much as we enjoy putting them together for you.

Now, onto today’s show:

Read More…

September 17, 2014

Ten Things Life Insurance Agents won’t Say: #9 We’d Rather Sell you Investments

Ten Things Life Insurance Agents won’t Say: #9 We’d Rather Sell you Investments

Moving right along on our critique of Market Watch’s failed attempt at a slam piece against insurance agents from a few months ago, today we take on item #9.

Apparently insurance agents find insurance dreadfully boring. So boring in fact, that they’d much rather talk to you about “investments.” And, much to their delight, federal legislation that came about in 1999 opened up the flood gates allowing agents to rush to the market with savings focused life insurance products—because it’s not like they’d been doing this for over 100 years with whole life insurance or anything.

Read More…

September 15, 2014

Indexed Universal Life Insurance: Another Weird Trick to get more Cash out of your Policy

Indexed Universal Life Insurance: Another Weird Trick to get more Cash out of your Policy

Indexed Universal Life Insurance is the dominate form of fixed (i.e. not involving any direct investment in mutual funds) universal life insurance for cash accumulation, and just like whole life insurance can be manipulated by agents and brokers to maximize cash value produced by the policy.

Just like last weeks discussion, the change that we make to optimize cash value does not require that the policy owner place any more money into the policy than he or she was planning, it simply comes down to properly designing the policy to focus it on cash accumulation.

It should also be noted that with universal life insurance, there tends to be a greater divergence in terms of cash value development between policies that are designed to provide cash accumulation and policies that are designed to focus more on sustained death benefit—and this goes beyond the simply distinction between universal life insurance policies that are designed to have an indefinite secondary guarantee. If you don’t know what that last statement means, don’t worry too much about it.

Just know that correct policy selection for universal life insurance is just as critical as it is with whole life insurance.

Read More…

September 11, 2014

138 Financial Pro Cast: No One Use the Bathroom After Metlife

138 Financial Pro Cast: No One Use the Bathroom After Metlife
Play

And so begins the 3rd year of the Financial Procast

Our listeners have told us that they would really like for us to get back to our “roots”. That is to say, we wax poetically about three or four financial related news stories and share our unique brand of commentary.

If you’ve never heard us in this type of podcast, you’re in for a treat. Read More…

September 10, 2014

Ten Things Life Insurance Agents won’t say: #10 you have too much Life Insurance?

Ten Things Life Insurance Agents won’t say: #10 you have too much Life Insurance?

Back in July, market watch published a list of 10 Things Life Insurance Agents won’t say, which is an on going theme for the articles author, Daniel Goldstein. The piece attempts to be provocative and cast doubt on the life insurance industry within the eyes of the consumer. This allusion is not a new one. The evil {insert name of industry here} is out to get you, but we, the good guys in the media, are looking out for you and here to help you navigate your way out of their complicated web of lies.

While I applaud any attempt to bring truth and justice into the spotlight, I also appreciate the truth. And since this piece was so terribly embellished (and poorly written), I’ve decided to yet again get out the old Insurance Pro Blog bleach and disinfect the internet. We’re going to address each point for the next ten weeks (oh boy!) with facts that will help bring clarity and reality to disinterested media’s dim-witted attempt to pants the life insurance industry.

So claim #10, you actually have too much life insurance…

Read More…

September 8, 2014

Whole Life Insurance: “One Weird Trick” to get more Cash out of your Policy

Whole Life Insurance: “One Weird Trick” to get more Cash out of your Policy

We all want more money. And when it comes to getting more money, we tend to think that there’s an arduous task ahead of us marked with unrelenting sacrifice and persistence. But when it comes to whole life insurance there’s actually nothing we have to do.

This seems counter-intuitive—if not downright impossible—but truth is getting more money with whole life insurance requires no extra effort, it just a little policy tweaking. And that’s where the real challenge lies.

Read More…

September 5, 2014

137 Financial Pro Cast: Life Insurance is NOT the Ultimate Asset Class

137 Financial Pro Cast: Life Insurance is NOT the Ultimate Asset Class
Play

In this episode of the Financial Pro Cast we take a step back and discuss life insurance as it relates to the rest of the financial world.  It’s not the only option, and it’s not always the best option.  And anyone who suggests that you either absolutely should or should not own anything is probably a quack.

September 2, 2014

136 Financial Pro Cast: And the Best way to Approach this Market is…

Play

Remember, information contained within the Financial Pro Cast and these show notes is intended for entertainment purposes only. Before acting on any topics discussed within this episode one should consult the advice of their tax, legal, and/or investment advisor

The market has been making a comeback after reaching new highs a few weeks ago and tumbling. Does this mean we can ignore the worry signs and dive in full throttle?

Read More…

August 28, 2014

135 Not as Guaranteed as You Might Think

135 Not as Guaranteed as You Might Think
Play

There seems to be an eternal debate that persists regarding whole life insurance and universal life insurance. Agents, insurance companies and some consumers that sit on either site of the argument will swear that one is definitely better than the other.

In our experience, most whole life insurance hacks will point at poorly designed universal life insurance policies that were sold in the 1980’s as an example of why the product (UL) doesn’t work. They will claim that the policies will leave people needing to make large additional premium payments as they age to keep the policies in force. Read More…

August 26, 2014

134 Fees Are Better than Commissions

134 Fees Are Better than Commissions
Play

I’m sure that the title of today’s financial procast will cause some of you to wonder if we’ve just completely lost it. Well, there’s certainly an argument for that, however, we just figured that we would agree with all the people out there that actually believe that statement.

It’s true…fees are better than commissions.

At least for the people who charge fees it’s better.  Read More…