Not Your Average Financial Podcast™

Episode 203: What If I Can’t Pay the Premiums?

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In this episode, we ask:

  • When did you start something really big?
  • What are the options?
  • What is the myth?
  • What are the strategies?
  • How is whole life insurance like a mortgage?
  • What about bills?
  • How is whole life insurance like real estate?
  • What about savings?
  • How can this benefit you in good times?
  • What happens if… ?
  • What if you hit hard times?
  • Are you able to lower your premium payment?
  • How is that possible?
  • What about the paid up additions?
  • Are paid up additions considered optional?
  • What about “catching up”?
  • What about annual premium?
  • What if the business falls on hard times?
  • What are the minimums?
  • What are the smaller monthly possibilities?
  • What about a premium offset?
  • What about surrounding Paid-Up Additions (PUAs) to pay premium?
  • What about the death benefit dropping?
  • How does one pay the premium with a policy loan?
  • What is the key difference between loans and surrender?
  • What about an automatic loan provision to pay premium?
  • Would you like to work on your situation with us? Schedule
  • What about dividends?
  • What are the dividend options?
  • What about the dividends paying premiums?
  • What are the nuances?
  • What about the reduced paid up option?
  • What are the benefits? What are the risks?
  • What happens to a reduced paid up (RPU) policy?
  • What about the irreversibility of RPU?
  • What about surrender and cashing out the policy?
  • Why is this technically possible?
  • What are the risks?
  • Why would people choose RPU instead?
  • What about a permanent policy?
  • What about buying extended term insurance?
  • What about an example?
  • What about limited pay policies?
  • What are the benefits?
  • What are some examples?
  • What about shorter premium payments?
  • What about longer premium payments?
  • What about the option to add money in the future?
  • Are you ready for rainy days?

    • ...more
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