Most of our readers and clients are familiar with the White Coat Investor—a web site started a few years ago by Jim Dahle, a physician who practices Emergency Medicine. I’ve talked about Jim’s work before, once quite a while ago when he attempted to malign whole life insurance and again about a year ago when readers wanted me to take on his suggestion that whole life insurance is not like a Roth IRA.
The second time I disappointed some people when I did the exact opposite of what they wanted by pointing out that he wasn’t wrong on that subject.
For the most part, we like to leave him alone in his pursuits. This is due in part to the fact that, believe it or not, we’re not all that different in our main goal—to identify and bring attention to the really dumb things financial professionals of all types do to people (for the White Coat Investor it’s specifically doctors) that leave them in a less than optimal position.
We differ, obviously, on our feelings about life insurance and that’s mostly fine. But Jim’s been on a bit of an indexed universal life insurance rant lately thus we’ve decided to weigh in on his recent work reviewing an indexed universal life insurance illustration that someone sent him.