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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Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers thinking and strategies today!
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Links and Resources from this Episode
- For resources and additional information of this episode go to https://prosperitythinkers.com/podcasts/
- 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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