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Just yesterday, we realized that since we started the podcast back in November of 2015 we've not discussed anything specifically regarding single premium life insurance.
With interest rates today at their lowest point in recent history and for a protracted period, many life insurance companies have chosen to pull their single premium products. But there are still a few available.
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If you haven't listened to episode 38, I encourage you to go back and listen to it before you listen to this one. Not that you have to but I think that listening to both of them will give you a better perspective.
We believe that the need to really understand income planning is so important we've dedicated two weeks to discussing it hear on our podcast.
In this second part of our discussion we're talking more specifically about the “illusion of control”. What do we mean by that?
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I know, when you see a title that includes “income planning” you begin to wonder… “Isn't this a podcast about life insurance?”
Yes, it is.
And we are talking about life insurance, annuities, etc. in the episode as we wrap up this discussion about income planning. But we felt like it was really important to give some context for that conclusion first.
So many times in our industry, people trot out solutions before they've accurately described the problem.
In this week’s episode, we dip into the mailbag to answer a question submitted by someone in our audience. Olivia writes, “Would you discuss the differences for some specialty whole life insurance products and when they might be appropriate for someone?…7 year pay premium, 10 year pay premium, interest sensitive” So, we’re answering that question. If you …
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There's a lot in the news recently about negative interest rates. It's surreal to think that central bankers have gone to such extremes in attempt to stimulate economic growth.
If you don't know what I'm referring to
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In the world of evaluating life insurance policies (something we do daily), it's possible to get bogged down in a discussion of fees. And sadly, it won't do much good.
If you're looking at fees associated with whole life insurance, good luck. The product is not transparent (nor is it required to be) regarding what fees and/or expenses are charged.
But we've got good news for you…
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There’s no doubt a number of people have made arguments against the ownership of cash value life insurance. You don’t have to spend a lot much time surfing ye olde’ interwebs to find such evidence.
Too many of these arguments are propped up on misinterpretations of the various products that exist–heck even the agents themselves can’t come to a consensus on how things work.
But one of my favorite literal interpretations about cash value life insurance that’s used to substantiate the opposition is the fact that
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If you've missed part 1 and part 2 of this five-part series, it would be worth your time to go back and listen to both of those episodes. It's not a pre-requisite, but it will help give you a little context for what I'm about to say…
This third argument against owning cash value life insurance (whole life and/or universal life) is the most ridiculous one so far.
The third argument goes something like this, “it just takes too long to see a return on my money”.
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The claim that life insurance returns are terrible is nonsense and a form of weak thinking mostly intended to confuse and mislead. But it's easier for all the financial bloggers and talking heads to agree with each other, so…
It seems that most people's only measure of savings or investment strategy is to look at the rate-of-return. If the return is higher, it must by default be better.
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Over the next few weeks our podcast will look at five of the most common myths people have regarding life insurance. In particular, we're looking at those myths that attack cash value life insurance and the evil people (us) that sell it.
If you want a preview of each topic, you should head over here to see the “Top Five Arguments…” and the links to a more in-depth explanation of both.
