901: Friday Q&A: Why You Should Maximize Tax-Deferred Plans, UTMA Accounts, Dividends on Whole Life, Asset Allocation, Business, Etc.
Radical Personal Finance
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Index Protection Benefit Riders on a Whole Life Policy
The idea is if you want the contract value to go up each year with additional amounts of insurance, then you keep the rider on there. So in whole life insurance, at any point in time, you can purchase what's called a single premium life insurance policy. If you direct your dividends to buy paid up editions, then those dividends will automatically increase the death amount each year as they buy paid up edition.
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