Today, we continue the life insurance series with the valuable background of whole life insurance. Exciting stuff!
This show is an introduction to the various product features and design ideas. We cover:
- Ordinary life insurance
- Limited pay life insurance
- Cash values
- Policy loans
- Nonforfeiture or Surrender Options:
- Surrender for cash value
- Reduced amount of paid-up whole life
- Paid-up term
- Annuity or Retirement income
- Policy conversion
- Participating versus nonparticipating policies
- Policy dividend options
- Cash
- Applied to premium
- Used to purchase more insurance (fully paid up)
- Left with insurer to earn interest
- Used to purchase more insurance (term)
- To overpay premiums until policy is fully paid up
Enjoy the show!
Joshua
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Joshua J. Sheats, MSFS, is the world's leading authority on integrating lifestyle goals and money goals without conflict. He teaches normal people how to seamlessly connect the science of financial planning with the joy of goal achievement.
Joshua is dedicated to helping normal people achieve financial freedom by merging creative (and crazy) ideas from the world of personal finance with the academic integrity of formal financial planning. He simplifies complex money topics and makes boring financial mumbo-jumbo less boring.
