Debunking the Myths of Whole Life Insurance
This popular series explains what whole life insurance is and the various methods salesmen use to sell it to you (usually inappropriately). Be forearmed!
This popular series explains what whole life insurance is and the various methods salesmen use to sell it to you (usually inappropriately). Be forearmed!
Should you buy whole life insurance? The short answer is, "Probably not." This is a product designed to be sold, not bought, where 80% of its purchasers eventually regret their decision. Are you one of the exceptions? Read this post to find out.
3/4 of physician whole life insurance purchasers regret their decision. Why is that? Mostly because it is a product designed to be sold, not bought.
In this episode we cover disability insurance, loaning money to family members, buying Facebook shares, student loan management, backdoor Roth IRAs, saving on your mortgage rate, whole life insurance, and more.
After a multi-year hiatus, this series is back with a vengeance, with six new methods used to sell whole life insurance to the ignorant.
In this episode, we revisit whole life insurance and discuss some situations in which you may want to buy or keep the policy you were already sold. Plus answer lots of reader questions.
If you're an insurance agent, stop committing these sins. If you're a client, stop associating with agents who do. Get the insurance you need and none of what you don't.
Did you know you could reduce whole life commissions by 85%? Neither did I until I read Chuck Hinners' Insider Trading in the Life Insurance Market. Get yourself a fee-only insurance advisor before buying permanent life insurance!
Almost every doctor has been approached by a whole life insurance salesmen. Many of us have mistaken them for an impartial financial advisor and bought what they were selling, only to realize what happened years later. Then what?
There are lots of smart ways to get rid of your whole life policy. Here's another one you might like, exchanging it for a MEC.
What do you do with your whole life policy once you hit retirement? It turns out the best choice is either nothing, or borrow from it. You've already paid your dues, might as well get the benefits.
A frequent technique used by life insurance salesmen to sell you permanent life insurance you probably don't need, is to invoke what is often called "the retirement tax trap." I see these in books, in...
When you put yourself and your ideas out on the internet, it's best to have a thick skin, especially if you have chosen to reveal some personal and identifying information as I have. Although on this...
When I originally started this series, it was intended as a stand-alone four part series, not an ongoing series. However, it seems that my blog is an absolute magnet for whole life insurance salesmen...
There's a book out recently by a "financial strategist" whose background is in insurance that advocates trying to avoid paying any taxes in retirement. This is actually possible to do. You basically...