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What's the problem with binoculars? They perform a great duty in that they make things that are off in the distance become very clear to us.
The problem is that they isolate your perspective so much that you often miss what's right in front of you. What's that got to do with anything you ask?
Well, today we're talking about how some life insurance agents, financial advisors, financial planners et. al. like to have you focus too narrowly on the long term. You shouldn't forget that the short term can have value as well. Often times we are able to glean some valuable information form short term data.
In our world, agents love to emphasize that life insurance is a long term “investment” and they do this to try and remove as much attention as humanly possible from the fact that most whole life and universal life policies (when sold the traditional way) have zero cash in the first year (and sometimes the first two years).
If we design them correctly, we can create cash surrender value in year one with almost all policies. That being said universal life insurance can be challenging at times.
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