Is Index Universal Life Insurance Right For Your Retirement?

Join Certified Retirement Counselor Mark Struthers on the 'Healthy and Wealthy Retirement' podcast as he sheds light on the complexities of permanent insurance, specifically focusing on Index Universal Life. Discover the hidden trade-offs and alternatives your insurance agent might not mention, as Mark guides you through making informed decisions.

Understand the significance of asking essential questions and knowing what you're insuring so it aligns with your financial plan. Whether your aim is to invest or support your family, gain insights into the possible advantages and disadvantages of these insurance products, enabling you to create a healthier, wealthier, and more fulfilling retirement journey.

Subscribe now to stay informed and make educated choices for your retirement journey.

 

Takeaways

• Always ask, 'What am I insuring?'
• Permanent insurance can be more expensive than term insurance.
• Tax-deferred growth and tax-free withdrawals are significant benefits.
• Understand the trade-offs between insurance and investment.
• Inflation can erode the purchasing power of your death benefit.
• Evaluate the alternatives to permanent insurance, like term insurance.
• Financial planning should consider long-term income needs in retirement.
• Be cautious of the sales pitches surrounding insurance products.
• Make informed decisions about keeping or getting rid of insurance policies.
• Integrate insurance into your overall financial strategy.

Sound Bites

• "What am I insuring?"
• "You will never get the index."
• "Be aware of the trade-offs."

Chapters

00:00 Introduction to Insurance and Index Universal Life

01:51 Understanding Permanent Insurance Needs

03:23 Pros of Permanent Insurance

04:36 Exploring Indexed Universal Life

07:31 The Reality of Market Returns

10:22 Evaluating Long-Term Financial Goals

12:30 Investment vs. Insurance: The Buy Term Strategy

15:24 The Role of Financial Advisors in Insurance Decisions

17:09 Ending

 

Curious about working with Mark?

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www.sonawealthadvisors.com

 

Disclosure:

Investment advisory services are offered through Sona Financial LLC (DBA Sona Wealth Advisors, Sona Wealth, Sona Wealth Management), an investment adviser registered in the state of MN. Sona Financial only offers investment advisory services where it is appropriately registered or exempt from registration and only after clients have entered into an investment advisory agreement confirming the terms of engagement and have been provided a copy of the firm’s ADV Part 2A brochure and document. 

This video or article is for educational purposes only and is not exhaustive. Nothing discussed during this show/episode should be viewed as investment advice. Diversification and/or any strategy that may be discussed does not guarantee against investment losses but is intended to help manage risk and return. If applicable, historical discussions and/or opinions are not predictive of future events. The content is presented in good faith and has been drawn from sources believed to be reliable. The content is not intended to be legal, tax, or financial advice. Please consult a legal, tax, or financial professional for information specific to your individual situation.

This content has not been reviewed by FINRA