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Nội dung được cung cấp bởi Nathan Reineke, W. Ben Utley, and Nate Reineke. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Nathan Reineke, W. Ben Utley, and Nate Reineke hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.
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VUL-nerable No More: Unwinding Variable Universal Life Insurance for Doctors

31:04
 
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Manage episode 355447362 series 2950605
Nội dung được cung cấp bởi Nathan Reineke, W. Ben Utley, and Nate Reineke. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Nathan Reineke, W. Ben Utley, and Nate Reineke hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.

Do you remember that guy? You know, the friendly insurance agent you met when you were a resident? That was back when you thought everybody was as honest and well-intentioned as doctors are. And that was at a time when you and your family were vulnerable not only to the whims of fate but the advances of greedy life insurance agents, too. They should have sold you a load of inexpensive term life insurance. Instead, they shook the tax stick at you and made you believe variable universal life insurance (VUL) was the way to go.

Now you know better.

In this episode of the Physician Family Financial Advisors podcast, Nate and Ben walk you step-by-step through how to correct this mistake without leaving your family exposed to the peril of premature death or the payment of unnecessary taxes. And if you somehow sidestepped this land mine during your residency, please forward this to a friend who might be trying to figure out how to protect their family.

IN THIS EPISODE

  • [2:55] Why do people buy Variable Universal Life Insurance?
  • [4:15] What are other ways to get similar benefits?
  • [6:22] Why is Variable Universal Life Insurance a lousy way to get these benefits?
  • [8:00] Why do insurance people talk physicians into these things?
  • [9:20] What is the best way to unwind Variable Universal Life Insurance?
  • [10:25] Step 1: Make sure you’re covered.
  • [16:14] Step 2: Get rid of Variable Universal Life Insurance - How do you avoid or minimize the tax bill?
  • [17:35] What is the difference between cash value and cash surrender value?
  • [21:20] What is a 10-35 Exchange?
  • [21:47] What is an Annuity?
  • [24:23] What are other good options besides Variable Universal Life Insurance?
  • [26:13] The reality of a Variable Universal Life Insurance policy.

GET MORE FROM PHYSICIAN FAMILY

• Catch all the great stuff we didn’t mention in the show! Subscribe to our newsletter.

DIY Doctor's Guide to Insurance - Coupon Code in our next newsletter

• Stop missing out on the tax breaks you deserve. Get The Overtaxed Doctor’s Guide to Retirement.

• Get on track for college in less time than it takes to change an explosive diaper. Download The DIY Doctor’s College Plan Workbook.

You’ll find it all at https://physicianfamily.com/go.

NOTICE

Physician Family Financial Advisors Inc., a registered investment advisor, has reasonable belief that the information and content as a whole does not include any false or materially misleading statements or omissions of facts regarding services, investments, or client experience. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account the specific situation or objectives of individuals and is not intended as recommendations appropriate for all individuals. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

  continue reading

67 tập

Artwork
iconChia sẻ
 
Manage episode 355447362 series 2950605
Nội dung được cung cấp bởi Nathan Reineke, W. Ben Utley, and Nate Reineke. Tất cả nội dung podcast bao gồm các tập, đồ họa và mô tả podcast đều được Nathan Reineke, W. Ben Utley, and Nate Reineke hoặc đối tác nền tảng podcast của họ tải lên và cung cấp trực tiếp. Nếu bạn cho rằng ai đó đang sử dụng tác phẩm có bản quyền của bạn mà không có sự cho phép của bạn, bạn có thể làm theo quy trình được nêu ở đây https://vi.player.fm/legal.

Do you remember that guy? You know, the friendly insurance agent you met when you were a resident? That was back when you thought everybody was as honest and well-intentioned as doctors are. And that was at a time when you and your family were vulnerable not only to the whims of fate but the advances of greedy life insurance agents, too. They should have sold you a load of inexpensive term life insurance. Instead, they shook the tax stick at you and made you believe variable universal life insurance (VUL) was the way to go.

Now you know better.

In this episode of the Physician Family Financial Advisors podcast, Nate and Ben walk you step-by-step through how to correct this mistake without leaving your family exposed to the peril of premature death or the payment of unnecessary taxes. And if you somehow sidestepped this land mine during your residency, please forward this to a friend who might be trying to figure out how to protect their family.

IN THIS EPISODE

  • [2:55] Why do people buy Variable Universal Life Insurance?
  • [4:15] What are other ways to get similar benefits?
  • [6:22] Why is Variable Universal Life Insurance a lousy way to get these benefits?
  • [8:00] Why do insurance people talk physicians into these things?
  • [9:20] What is the best way to unwind Variable Universal Life Insurance?
  • [10:25] Step 1: Make sure you’re covered.
  • [16:14] Step 2: Get rid of Variable Universal Life Insurance - How do you avoid or minimize the tax bill?
  • [17:35] What is the difference between cash value and cash surrender value?
  • [21:20] What is a 10-35 Exchange?
  • [21:47] What is an Annuity?
  • [24:23] What are other good options besides Variable Universal Life Insurance?
  • [26:13] The reality of a Variable Universal Life Insurance policy.

GET MORE FROM PHYSICIAN FAMILY

• Catch all the great stuff we didn’t mention in the show! Subscribe to our newsletter.

DIY Doctor's Guide to Insurance - Coupon Code in our next newsletter

• Stop missing out on the tax breaks you deserve. Get The Overtaxed Doctor’s Guide to Retirement.

• Get on track for college in less time than it takes to change an explosive diaper. Download The DIY Doctor’s College Plan Workbook.

You’ll find it all at https://physicianfamily.com/go.

NOTICE

Physician Family Financial Advisors Inc., a registered investment advisor, has reasonable belief that the information and content as a whole does not include any false or materially misleading statements or omissions of facts regarding services, investments, or client experience. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Information expressed does not take into account the specific situation or objectives of individuals and is not intended as recommendations appropriate for all individuals. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

  continue reading

67 tập

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