Annuities and whole life insurance tend to create strong opinions. Some people treat them like miracle products, while others dismiss them completely. The truth, though, is more practical. They are financial tools, and like any tool, they only make sense when they are used for the right job.

So how do you know when one of these products might actually help you as opposed to just getting a sales pitch? What should you watch for with annuity rates, surrender charges, fees, and income guarantees? And when it comes to whole life insurance or “bank on yourself” strategies, who might benefit, who probably should not, and what costs are often left out of the conversation?

It's time to clear the air about these two widely-used – and often misrepresented – financial instruments. Learn more from podcast host Johnny Dean and Rick “The Professor” Plum, CFP® on this week’s episode of Managing Your Financial Future!