Is an Indexed Universal Life (IUL) Right For Your Retirement?

Summary
In this conversation, Mark Struthers discusses the intricacies of permanent insurance, particularly focusing on its pros and cons, how it fits into financial planning, and the importance of making informed decisions. He emphasizes the need to understand what one is insuring, the potential benefits of tax-free death benefits, and the trade-offs between insurance and investment strategies. Struthers also highlights the significance of integrating insurance into a broader financial plan to ensure a secure retirement.
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.