The Prosperity Podcast IUL vs Whole Life Insurance Comparison - Episode 531
Spencer and Kim compared Indexed Universal Life (IUL) insurance and Whole Life insurance. They compare IUL to a mobile home due to its flexible and adjustable nature, which also means it carries more risk. Meanwhile, Whole Life insurance is compared to a brick and mortar home due to its stability and permanence.
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Show Notes
- What IUL and whole life insurance are and how are they different from each other?
- Analogy between universal life and a mobile home, and whole life to a brick and mortar home
- Personal experiences of weaknesses of mobile homes compared to brick and mortar homes
- Suggestions for those who have an IUL policy and realize they might be in trouble due to impending risk
- Sunk cost fallacy in life insurance decisions, and how to overcome it
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