ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 148: Don’t Mix Investments With Insurance

High income and busy – those two ER doc characteristics make hiring financial help a common and reasonable decision. But it’s for those same reasons ER docs have a target on their back when it comes to financial solicitation. And not all sources of solicitation are the same; there are landmines out there that should be avoided at all costs.

One such landmine you’ll hear us frequently bring up is universal life insurance. On today’s episode, we’ll get into more of the math involved in these policies which will hopefully paint a vivid picture of the turmoil these policies can cause on finances.

Topics Discussed:   
  • The two main scenarios (within emergency medicine) to be aware of when it comes to mixing insurance with investments.
  • How things have changed in the last 20-30 years.
  • What the IUL is and why it’s usually terrible to purchase.
  • What insurance salesmen won’t tell you.
  • Common illustrations that paint a misleading picture.
  • The policy fees and how they are not accurately or honestly calculated into what you’re shown.
  • Common misconceptions of what your beneficiaries get from your life insurance policy.
  • The changing name of policies and why you always need to be wary.

Resources Mentioned:


ER doctor, emergency medicine, emergency doctor, ER, financial planning, dual income, non-working parent, non-earning spouse, tax brackets