November 09, 2023

The Truth about Permanent Life Insurance (Part 1): the basics, policy types, components, funding & structure - with Jeff Bernstein, CLU, MFA-P

46 minutes

It's finally time to tackle permanent life insurance with a series of episodes. I'm thrilled to host Jeff Bernstein, CLU, MFA-P, owner & managing partner of Seligman Insurance as we do a deep dive on this topic.

Discussion points:
Jeff's background (5:57)
What is permanent insurance? (9:30)
Considerations for permanent life (12:30)
Core concepts: adjusted cost basis & capital dividend account/CDA (16:35)
Types of permanent life insurance: Universal Life (UL), Whole-life (WL) (24:35)
Participating vs non-participating whole life insurance (27:07)
Understanding key policy components: death benefit & cash surrender value (31:35))
Permanent life policy funding timelines: does it make a difference? (33:57)
Policy structure: growth vs estate oriented (37:49)
Can term life be converted to permanent life? (40:28)

This episode features Arya EHR - https://www.aryaehr.com/

**I endorse only products/services I personally use or would use. I can get commissions that will be used to offset the costs of running this podcast :)

Jeff Bernstein:
https://www.linkedin.com/in/jeffreymbernstein/
[email protected]

My links:
https://www.linkedin.com/in/yatin-chadha-29074b109/
[email protected]