Not Your Average Financial Podcast™

Episode 60: The Top 10 Reasons NOT to Own Universal Life

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In this episode, we ask:

  • Should you keep or buy a Universal Life (UL) insurance policy?
  • What are Universal Life (UL) insurance policies?
  • What are the variations of Universal Life (UL)?
  • Are Universal Life (UL) illustrated values over optimistic and misleading?
  • What are the guarantees on the guaranteed illustration on the UL?
  • How long is the track record for UL policies?
  • How likely do you think it is that the market indices will increase by the exact same percentage ever single year?
  • What’s the difference between the average rate of return and a cumulative rate of return — and why does it matter?
  • What are the costs and charges on a Universal Life (UL) policy?
  • Why do some UL surrender charges last 10 or 15 years?
  • How are Bank on Yourself type policies different from UL policies?
  • Can you anticipate what your cash value is going to be with a UL?
  • What is the most rigid and punishing of all of the life insurance products available?
  • What is a mortality table?
  • What is Annual Renewable Term (ART) insurance?
  • Do carriers reserve the right to increase mortality costs and expenses over time on a UL?
  • What are the guarantees on a Universal Life product?
  • Are you going to pay for the term insurance increases?
  • How do late payments affect the guarantees in a UL policy?
  • How are dividends applied to Indexed Universal Life (IUL) policies?
  • What is the real return (CAGR) without dividends applied?
  • Is an UL illustration fictional?
  • What is a no lapse guarantee?
  • What happens with an IUL policy if you reduce or miss premium payments?
  • Can you reduce pay up an IUL policy?
  • Will your income be increasing as you age?
  • Do loans have risk with UL policies?
  • Why are there so many class action lawsuits against the carriers offering UL policies?
  • How is the customer service on IUL policies?
  • Why don’t we choose to write UL policies?
  • What happens when the industry moves on from the UL and you haven’t?
  • How are Whole Life policies different from Universal Life policies?
  • With Universal Life and all of its variants, who burdens the risk?
  • Why would anyone consider buying a Universal Life insurance policy?
  • Why bundle risk and insurance together?
  • What are the additional risks?

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