IBC Crash Course For 2023’s Rate Volatility > Cost/Benefit Analysis of Whole Life’s Early Fees
Lesson 6 of 7
Cost/Benefit Analysis of Whole Life’s Early Fees
It’s hard to quantify Whole Life’s fees because it is known as “a black box.” We uncover the true cost by isolating how much of your premiums are missing in the first couple of years.
We also hone in on the 2 major benefits you get for those early costs. This video will absolutely bump your paradigm around the cost of Whole Life insurance.
Notable Timestamps:
1:31 – Comparing a smaller & bigger policy to see the difference in cost
6:40 – Do you actually get more benefits for paying bigger Whole Life fees
8:08 – How you can maximize the 2 extra benefits without paying extra fees
9:51 – Measuring the IRR of Whole Life’s early costs to those long-term benefits
If you’ve done enough research, and realize this is something you want to pursue for yourself… take a quick moment to book a slot on our team’s calendar before jumping back into the video course!
Lesson Materials:
Whole Life Product Roundup
Learn all about Whole Life’s different riders & growth components when designed properly
[Video] Base is allegedly the most expensive component of Whole Life, but that actually depends on the company.
https://bankingtruths.com/ibc-10-90-split-banking-policy-design-myths/
[Article] Electing the RPU option can wipe away all Whole Life’s mortality charges past year 7:
https://bankingtruths.com/rpu-reduced-paid-up-option/