Whole Life vs. Term Insurance: More Myths and Misunderstandings
Today’s episode of The Prosperity Podcast continues the debate over whole life insurance vs. term life insurance. Best selling financial author, Kim D. H. Butler and “No B.S. Money Guy,” Todd Strobel pick up where they left off previously, discussing comments sent in by a reader in support of term insurance vs. whole life insurance.
The arguments and responses covered include: price comparison, investing comparison, and large commission comparison.
Kim and Todd address the reasoning behind each question the viewer had and then proceed to teach why both whole life and term insurance are important and practical. Most clearly, they express why term on its own is not a long term option, as its name suggests.
Whole Life vs. Term Insurance: Myths and Misunderstandings
In this episode of The Prosperity Podcast, best selling financial author, Kim D. H. Butler and “No B.S. Money Guy,” Todd Strobel take on some misconstrued ideas regarding whole life insurance vs. term insurance.
Looking at a comment that was left on Partners for Prosperity’s blog, they clarify four aspects of whole life insurance, busting four common myths: These include:
Do you “pay for two and get one” benefit?
Is there really “zero cash value”?
What about the death benefits – does term really give you more? and
Is whole life too expensive for middle income families?
Our hosts are back in this episode of The Prosperity Podcast to answer all of your life insurance questions. “No BS Money Guy,” Todd Strobel, and best-selling financial author, Kim D. H. Butler instruct listeners in Life Insurance 101.
Answering common questions, Kim and Todd clarify differences between types of life insurance, and give listeners sound insurance advice. They explain the many different ways we can use life insurance, and which types are the most ideal for different situations. This truly is a life (insurance) lesson you won’t want to miss!
What is the difference between advising and planning?
Are financial advising and financial planning the same thing? Todd and Kim say they are NOT! In this episode of The Prosperity Podcast, “No BS Money Guy” Todd Strobel and Kim D. H. Butler, best-selling financial author, clear the murky air and set straight the differences between financial advising and planning.
Our hosts point out the impossible problems of financial planning and the traps we can fall into when relying on financial planning. They also talk about how financial advising is different and WHY it works better than financial planning to build wealth and prosperity.
In this episode of the Prosperity Podcast, “No BS Money Guy,” Todd Strobel and best-selling financial author, Kim D. H. Butler talk about the different types of financial advisers that exist and the pros and cons of each type. They answer questions about which type of adviser is the most beneficial for various situations and how to decide which is best for your situation.
Our hosts answer the question about free financial advice and whether or not the phrase “you get what you pay for” rings true in those types of situations. Referring to insurance, Todd and Kim remind us that investments are not our only way toward gaining financial stability and growth.
Picking up where they left off last episode, “No BS Money Guy,” Todd Strobel, and best-selling financial author, Kim D. H. Butler, resume talking about life insurance and how we can use it for our benefit before our death.
Todd and Kim discuss two different working examples of how we can utilize our death benefits during our lifetime. They present the pros and cons of various life insurance policy options and make recommendations on which they believe could be in our best interest in certain situations.
Many people do not realize how life insurance can be used to transfer wealth while the policyholder/insured is still alive and well! We are encouraged by the hosts to not wait until death to use our insurance to benefit others, but rather to give while we live.
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