Recently we’ve had a few Indexed Universal Life policy contracts come across our desk for review. As part of our review process, we calculated the cost of insurance in these policies and compared it to the cost of insurance in a Whole Life product of our design.

In today’s show, Tom and John look at how these costs match up. While Indexed Universal Life may be the trendiest type of insurance, it leaves a lot to be desired.

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With possible changes to the tax code looming, it is likely life insurance will become an even more important planning tool for people who want to build and sustain generational wealth.

But there is a lot of negativity surrounding life insurance and those who sell it. Public opinion of life insurance salesmen is low, coming in just above that of used car salesmen.

But on today’s episode, Tom and John talk about celebrities who have much better opinions of life insurance. Some were even life insurance salesmen! Their names may surprise you!

Joe Biden is on record for stating “Americans will suffer under my administration”. Biden’s economic policies are threatening to turn out a lot like Jimmy Carter’s did in the 1970s. The good news is we can try to prepare for the future by looking at the past.

Interest rates under Carter were very high. But interest rates on policy loans, while higher than they are right now, were comparatively low. Those who recognized this, were able to borrow against their life insurance policies to capitalize on opportunities which came along. Of course, they could only borrow in proportion to how much they had put in.

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There is a fascinating history around governments and the way they deal with drugs. Hippocrates warned against the use of opium except for some medicinal purposes.

Yet by 1839 Great Britain was embroiled with China over the trade of opium. British ships were instructed to bring the finest opium back to England. Needless to say, this opium was not used for medicinal purposes.

So what does this have to do with Life Insurance? The fact is governments cannot stem the tide of culture and the way people think. Governments can use force, or impose penalties and taxes, but there are other forces at work on a deeper level. This is a foundation which shares a common ground when it comes to the value of using life insurance to build wealth.

Hear more on the show today.