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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?
