The REAL Value of Whole Life Insurance EXPLAINED | With Todd Langford
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- Опубліковано 4 жов 2024
- In this clip from my interview with Todd Langford, we cover the true value of whole life insurance and why it may actually be the greatest asset you could ever own.
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*This video is for entertainment purposes only and is not financial or legal advice.
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Great interview. Not very often do people compare apples to apples when it comes to life insurance. I love the idea of IRR, but sometimes it very difficult to understand. Todd does a great job of explaining the concept of IRR in the whole life insurance world. Would love to hear more from Todd in the future. Thanks !
Really high quality interview with Todd from Truth Concepts……..Caleb’s not too shabby either. 😊
Very informative!!! Thank you both. 🙏❤️🤓
Glad you enjoyed it!
Great collaboration
If its about value, then what does inexpensive price tell us about term insurance?
I have a question: when you get money from your cash value, do you have to pay interest to the insurance company?
Really good video! In your comparison to other like assets, it seems that the loan interest rate needed to utilize the cash value of the policy was left out. For example, an 8% interest rate on these loans should be a factor. And while it should obviously take far less than 30 years to payback the loans, wouldn't the payback need to be a factor to have an apples to apples comparison? There would seem to be a tipping point depending on the payback period. Perhaps multiple loans are taken in the 30 year analysis period. The loan interest rate is much higher than the cash value gains until the very end of the policy. It would seem that you'd need to wait at least 30-40 years to be able to take out a loan without losing money (due to loan payback) when compared to other savings methods over the same duration. Only at the very end of the policy does the rate of actual cash value growth exceed the loan interest rate
Are you able to recommend a company that in your view is a top choice for beginning a whole life insurance plan with cash value? Your videos are great! Thanks
Yes!!!!
Consumer Reports found that average effective (not internal) ROI for whole life cash value is about 1.5%. Add to that that it is no longer your money that is growing at that amazing rate (you can only borrow against it) and that about 80% of whole life policy holders end up surrendering their policies early, and that if you're foolish enough to still have the policy when you die, your cash value goes "poof". Still want a whole life policy so you can get rich?
Cash value allows someone to be more aggressive with their stock to bond mix as they approach retirement
lol why are you paying a 1% management fee if you are just dumping money into an index?
Lol that's where he's wrong at
You guys keep fooling yourselves on the value of whole life insurance.
Buy term and invest the rest will crush any whole life insurance over 30 years.
What if you lose that money in the “ 30 years” investment got risk.. insurance is protection first .. with option to invest if you must .. it’s an AND asset like locking your IRA
@@AlphaProject91 You have to be really bad if you lose you money invested in the stock market over 30 years.
I don't think there is any 10 year rolling period when the stock market lost money.
So, to lose in 30 years you have to be chasing returns or listening to some really bad financial advisors.
Insurance is risk protection. This is why you buy term and invest the rest. A simple 500 index will do the trick. It is not complicated.
I don’t often agree with Dave Ramsey on many things however, I’m in his camp on this when it comes to this type of life insurance
He's wrong in a few places. 1. No one pays a high management fee for index or etf funds. This isn't the old days of mutual funds that are actively managed. Flaw 2 is no one in their right mind would have 50% of their portfolio made up of bonds most use the 90/10 rule so you're only looking at 10% of bonds. And there are bond etfs. And thats not factoring in other ways to hedge a portfolio for down years. I agree with everything else but there's no comparison at all when talking about life insurance and the stock market. As far as liquidation, it's never good to liquidate. Like life insurance you can borrow against those assets with a brokerage account or an outside bank. But if you had to liquidate it would depend on where you got in at and your portfolio. One could be invested in dividend paying stocks where the dividends already paid for the stocks they own. Or the dividends could be making the portfolio break even. I would agree that it's good to and both and not one or the other.