Not Your Average Financial Podcast™

Episode 59: You think your Whole Life is great? Mine’s Universal!

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In this episode, we ask:

  • Are you ready for a new way of thinking about your life and your money?
  • What if there was a relatively new life insurance product that lets you share in a portion of the gains in the market and protects you from the market when it tanks?
  • What is Indexed Universal Life insurance?
  • What is permanent life insurance?
  • What’s the difference between permanent life insurance and term insurance?
  • What is the sampling of permanent life insurance?
  • What are their abbreviations?
  • What is Whole Life?
  • What is Universal Life or UL?
  • What are the benefits of UL?
  • How is the Universal Life product built?
  • Why did the companies create Universal Life?
  • What are the subtypes of UL?
    • What is Variable Universal Life (VUL)?
    • How is it like a mutual fund?
    • What is a sub account or separate account?
    • What’s the difference between a Whole Life Insurance policy and a Universal Life policy?
    • What is the general fund of the life insurance company?
    • How is the general fund allocated?
    • What about IUL? Indexed Universal Life?
    • What indexes do IULs use?
    • How is an IUL different from a VUL?
    • How did we end up with these various products?
    • What is the history of these products?
    • When did UL pop up?
    • What happened to the pensions?
    • How did the 401(k) affect employees?
    • What is the idea behind life insurance?
    • Who were the key players who brought this into fruition?
    • Who is E.F. Hutton?
    • What were the illustrations like on Universal Life policies in the early 80s?
    • What happens with term insurance products?
    • What is Annual Renewable Term (ART) insurance?
    • What happens to the term component in an IUL policy?
    • How was UL marketed?
    • What did Ralph Nader suggest?
    • What concerns has NY state expressed regarding selling UL policies?
    • What does DALBAR say the average equity investor is doing?
    • Why would someone want an IUL?
    • What are the upsides?
    • Is an IUL a good fit for cash accumulation?
    • Can you use IUL for Bank on Yourself?
    • Is a UL policy a good fit for you?
    • Why should you be much more cautious with a UL?
    • What are your goals?
    • Should a higher rate of return on cash value be a driver in the decision?

      • ...more
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