Whole Life Insurance is one of the most popular and well advertised financial products on the planet and has been for a long time. Does it have a place in your financial plan? In my opinion...no. Now, I don't hate any tools, they're just tools: they do some things well and other things poorly. After fourteen years of research I can't find anything Whole Life does better than other tools so I devoted this podcast to sharing my findings with you. Enjoy.
Thank you for sharing. I have a few concerns/questions about the universal life:
1) can you please show which product is more expensive in the long run, UL or WL?
2) when you talk about UL, are you talking about IUL, GUL, or VUL?
3) I've recently begin learning about IUL - and I see lots of negative reviewed from various sources. They say the product is too complicated for an average American and recommend it almost exclusively as a key person insurance or an investment vehicle for those who have exhausted all other investment options. What is your take on that?
4) could you do an illustration of an IUL vs. 401k at the same interest rate, with no matching from the employer? I'm just curious to see how it stacks up.
5) what is the correct way to structure an IUL to make it affordable for someone who can put in less than $500/year?
Looking forward to hearing from you,
Galina