Why I believe Whole Life Insurance is a Bad Investment
In this episode of 'Therapy for Your Money,' host Julie Herres, owner of GreenOak Accounting, shares her strong opinion that whole life and universal life insurance policies are poor financial products. Julie delves into her personal experience with these policies, explains why they don't make financial sense for most people, and advocates for term life insurance. Focusing on keeping finances straightforward, she emphasizes separating life insurance from investments. Listeners will learn about the pitfalls of whole-life policies, the substantial savings with term life insurance, and how to protect their loved ones properly.

Show Highlights

• 00:00 Introduction to Therapy for Your Money
• 00:47 Unpopular Opinion: Whole Life and Universal Life Insurance
• 01:50 Personal Experience with Universal Life Insurance
• 05:46 The Case for Term Life Insurance
• 07:56 How to Choose the Right Life Insurance
• 14:20 When Whole Life Insurance Might Make Sense
• 15:49 Conclusion and Final Advice

Links and Resources

• Money for Therapists Practice Startup - https://www.greenoakaccounting.com/startup
• GreenOak Accounting - www.GreenOakAccounting.com
• Therapy For Your Money Podcast - www.TherapyForYourMoney.com
• Profit First for Therapists - www.ProfitFirstForTherapists.com
• Profit First Academy - www.ProfitFirstForTherapists.com/Academy 
• Podcast Production and Show Notes by Course Creation Studio