Podknife - Financial Vitals - Why Is Permanent Life Insurance Such A Terrible Short Term Investment by Financial Residency

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Financial Vitals - Why Is Permanent Life Insurance Such A Terrible Short Term Investment

Podcast |: Financial Residency
Publisher |: Financial Residency Network
Media Type |: audio
Podknife tags |: Business,; Careers,; Interview,; Management & Marketing,; Personal Finance,; Science & Medicine
Categories Via RSS |: Business,; Careers,; Investing
Publication Date |: Nov 11, 2023
Episode Duration |: 00:35:43

This episode is sponsored by Eckard Enterprises. To start empowering your financial future, visit www.EckardEnterprises.com

Does permanent life insurance make sense or not? Is it the right or wrong short-term investment?

In this episode of the Finance For Physicians Podcast, Daniel Wrenne talks about what you should look for and avoid to navigate the purchase of permanent life insurance.

Topics Discussed:

• Permanent Life Insurance Components: Cash value and death benefit

• How does buying permanent life insurance compare to term life insurance?

• Agents: People who push, play with permanent life insurance costs/commission

• Worst Case Scenario: Buying permanent life insurance for one year

• Best Case Scenario: Worst year for investment alternative to break even

• Buy term, invest the difference for credit card debt and emergency reserves

• Buy permanent life insurance when long-term tax savings outweigh cost and time

• Key Takeaway: Get a second opinion to understand complexity, conflict of interest

Links:

Dave Ramsey

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