Today's episode is all about universal life insurance policy loans. Yeah, not the most exciting topic…we know. However, it's important to have at least a high level of understanding on the subject if you are looking to use the cash value from your policy.
Particularly if you plan to draw an income from your policy at some point the future. Loans from a universal life insurance policy don't function in quite the same way as they do for whole life insurance. Which of course leads you to the next logical question…
Which one is better? Is it better to plan to take large loans from a universal life insurance policy or a whole life policy? Well…that's a question you'll have to answer for yourself. And of course our answer is that–it depends.
Their are some definite advantages to understanding and making use of policy loans from universal life insurance. Here's a partial list of the topics we cover in episode 11:
Listen to here the discussion of all these points in depth.
And we promise next week we'll move on to something more exciting. We're just trying to make sure that build out this resource for you in the most logical way that we can.
Let us know if you have any suggestions.
Brantley is a practicing life insurance agent and has been for nearly 18 years. After years of trying to sell like his sales managers wanted him to, he discovered that people want to buy life insurance if you actually explain the benefits.
Indexed Universal Life Insurance Pros and Cons
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IPB 107: When Interest Rates Go Up, Bonds Go Down. What Does It Mean for my Life Insurance?
IPB 105: Is Indexed Universal Life Insurance Worth it even if the Interest Rate Assumptions are Wrong?