Demystifying Life Insurance Myths with Rob Bertman and Lauryn Williams

The topic of life insurance has so many nuances that even people who already own policies find it confusing. Lauryn Williams, CFP®, CSLP®, and Rob Bertman, CFA, CFP®, discuss the complexities of life insurance and how it can be misused to exploit people. You’ll hear anecdotes of people who have invested in whole life insurance policies with high fees and low returns, sometimes being sold on the idea of building wealth by unscrupulous salespeople. The dynamic duo also shares how reputable financial advisors and investment options are more accessible and affordable than ever before. Finally, you’ll learn the importance of life insurance as a necessary product for catastrophic loss and ongoing support to safeguard your dependents.

In today’s episode, you'll find out:

• The myths surrounding whole life insurance
• The problem with commissions in whole life insurance investments
• Why people with lower income levels are often taken advantage of through financial schemes
• Why knowing if you’re being sold something will help you build wealth or prevent you from building wealth is crucial
• How lack of knowledge about insurance policies can be harmful
• Rob’s analysis of whole life policies and permanent insurance policies
• The fallacy in the way whole life insurance is sold
• Better ways to invest money than whole life insurance, especially in your 20s when you're in your prime wealth-building years
• Why you need a “full financial picture advisor” instead of an insurance salesperson
• The continued need for life insurance, especially when you're young

 

Like the show? There are several ways you can help!

• Follow on Apple Podcasts, Spotify or Google Podcasts
• Leave an honest review on Apple Podcasts 
• Follow on Facebook, Twitter, or LinkedIn

 

Feeling helpless when it comes to your student loans?

• Try our free student loan calculator
• Check out our refinancing bonuses we negotiated
• Book your custom student loan plan

Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!