We wrote an article that described the 3 reasons why whole life insurance is a bad idea. How can we write an article about why whole life insurance is a good idea? Are we talking from both sides of our mouth? No. It is simple: It is your situation that dictates if a whole life insurance policy is needed. Chances are, it is not, but some people and families need whole life insurance.
This article is intended for people who are considering whole life insurance (see our article on why it can be a bad idea, too) and for people who currently have a whole life insurance policy and considering dumping it. Honestly, if you have a current whole life insurance policy, it may not be in your best interest to dump the policy.
We will explain more in a minute.
Continue reading Important Reasons Why Whole Life Insurance Is A Good Idea [We Explain The Benefits Of This Product]
Did you know there are disadvantages to indexed universal life insurance (IUL)?
It is true. There are advantages and disadvantages to every type of insurance, and this includes indexed universal life insurance.
Indexed universal life insurance is a very popular type of life insurance. I am sure you have heard the accolades that you can withdraw the cash value income tax-free (which is true – more on that in a minute).
However, there are disadvantages, too. Many agents don’t speak about them. If you are going to purchase an IUL, you need to know these disadvantages and level set on expectations.
Continue reading 5 Disadvantages of Indexed Universal Life Insurance [Unbiased Review] | Know The Disadvantages, How This Product Works, And Your Options
Here at My Family Life Insurance, we are asked often about indexed universal life insurance (IUL).
There is good reason. At the end of 2018, indexed universal life insurance sales topped over $2.1 billion! What is indexed universal life insurance, you ask? Continue reading Indexed Universal Life Insurance: Everything You Need To Know | The 2023 “No Fluff” Guide
Have you thought about using your life insurance policy as a retirement plan?
Everywhere you read and hear, advisors say you need to use life insurance to save for retirement.
Other’s say, “No way!” Or, as I like to say, “swipe right”.
Who do you listen to?
Continue reading Life Insurance As A Retirement Plan | Yes, It Can Work, But Know The Details