IPB 066: Life Insurance Design Q&A

 

It's been a while since we've done any sort of FAQ episode. So, today we remedy that with three of the most commonly asked questions we get about life insurance policy design when seeking cash accumulation as your primary goal.

We answer the following questions:

  1. What is the 7 pay test and is it okay to fund my policy right up to the limit?
  2. If my policy illustration shows that my policy becomes a MEC in 52 years (for example) should I be worried when I'm only planning to fund it for 15 years?
  3. What's the worse case scenario if for some unknown reason I can't pay my premium in any given year? Does this ruin everything?

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