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In this episode, we ask:

• Do you have a question on every single page of a new policy?
• How many pages are in your contract?
• What is the guaranteed values table on a life insurance contract?
• Wait, so you’re saying there are zero dollars in cash value the first five years?!
• What’s going on here?
• Why the shock?
• What’s the whole story?
• What’s a paid up additions rider?
• How does that affect the data table?
• What parts of the design are in the paragraphs? What parts of the design are in the guaranteed tables?
• What information in the contract describes the actual performance?
• Are you in awe?
• What do we know about the track record of each company?
• How does the company’s track record affect the data table?
• Has the company already declared their dividend?
• What’s the worst case scenario?
• Why is there a difference in an illustration and a contract’s data table?
• What is it like when you pay your first premium?
• How do you manage your cash flow adjustment?
• What does behavioral economist Richard Thaler say about forced savings?
• How is a premium payment a source of savings vs. a bill?
• What is it like to login and see your cash value online?
• What does it mean to see expenses come out in year one on a life insurance policy?
• Am I better off doing something else?
• Do you have the patience for a long term strategy?
• What is the cost?
• When does the cost come out?
• What does Nelson Nash say about thinking long range?
• Why is there a cost?
• What does the cost buy?
• What happens on Day 1 of a policy?
• When does your death benefit go into effect?
• How much is your death benefit?
• What happens as you continuously check on your cash value?
• Will your policy ever decline in value?
• Which is more affordable – a life insurance policy or an account with a 1% assets under management fee (like a ETFs, a mutual fund, 401(k) or IRA)?
• When do you want your money growing the fastest?
• When are you ever not going to need this cash?
• What are the contractual guarantees?
• What are you in awe of?
• What is it like to request a policy loan?
• How much do you want? Where do you want the insurance company to send it?
• Is taking a Bank on Yourself life insurance policy loan easy?
• Are there any limits on taking a policy loan?
• Why is 80-90% (or higher) of the cash value available as collateral for a policy loan?
• Why shouldn’t you drain your checking account down to the last penny?
• When should you set up a loan repayment plan?
• Who decides what the payment amount is going to be?
• Who can help you decide how to structure the loan payback?
• What’s the APR on the loan payback?
• Who decides what the timeline on that payment will be?
• Can I have my loan repayment coupled with the premium payment, so it’s one draft a month?
• Do you have to know all of the technical details?
• What happens the first year?
• Does your annual statement look like it was written in hieroglyphs?
• What do the numbers behind the numbers mean?
• Are you feeling angry / frustrated / jipped?
• Who can help you navigate your annual report?
• What about when there is a market correction or when the market takes a nose dive? How are policy holders affected?
• Why is the annual statement full of jargon?
• What is it like when you get that first dividend?
• What happens when the benefits outweigh the cost?
• Do you have the patience to see money grow over time?
• Do you have a question? Schedule a quick call with us here.
• Do you feel relieved?
• What happens when you get your first dividend?
• What happens when your cash value exceeds what you put in?
• How huge are the rewards?