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