Best selling author Kim Butler and No B.S. Money Guy Todd Strobel analyze how Single Premium Life Insurance policies may not be the best choice in today’s world.
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Links in this Episode:
Kim Butler’s book: Live Your Life Insurance
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[00:30] Topic: Single Premium Life Insurance
[01:08] Why the Modified Endowment contract obliterated the product’s effectiveness
[01:46] You can put a lump sum into a life insurance policy
[02:10] How money works in a life insurance plan
[04:34] Kim’s clients still show interest in single premiums, despite drawbacks
[07:00] Biggest objection: taxation
[09:07] Why you should get an automatic premium loan
[10:30] Valuable to get a financial advisor to aid in these decisions, not just an insurance broker
[15:11] Kim’s Book: Live Your Life Insurance
Tweetables:Let’s remember the value of continuing to pay premiums: It’s just savings, it’s forcing your family to save and there is so much good in that. Click To Tweet Their adult life insurance is definitely the asset of choice in our minds for parents to save money for their child’s college education. Click To Tweet
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