Navigating Life Insurance Terminology - Episode 028

P4P’s Kim Butler and No BS Money Guy Todd Strobel answer another listener-submitted question. Life insurance terminology and lingo is the topic of discussion. Kim and Todd travel the A to Z’s of life insurance with a few pit stops along the way.

Also, will this episode be the last for Todd’s favorite phrase, “super?” Find out on today’s episode of the Prosperity Podcast.

If you would like the opportunity for us to answer your question on the show, be sure to keep sending us questions!

 

Show Notes:

[0:00] Prologue

[0:19] Intro

[0:52] Understanding Life Insurance Terms and Terminology

[3:11] Premiums

[5:08] Cash Value

[8:43] Dividends

[12:37] Gross Cash Value

[13:22] Automatic Paid-Up Additions

[16:35] Waiver of Premium

[18:36] Death Benefit or Face Amount

[19:41] Financial Planning Has Failed

[20:34] Increasing Death Benefit

[21:15] Interest

[23:42] Positions Within Life Insurance

[25:52] Automatic Premium Loans

[27:02] Reduced Paid-Up

[29:26] Opportunity Cost

[30:41] Wrap-Up

[31:29] Outro