How To Avoid Getting Scammed on Life Insurance
The Stacking Benjamins Show
Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP
4.4 • 2K Ratings
🗓️ 1 September 2021
⏱️ 62 minutes
🧾️ Download transcript
Summary
How well do you understand life insurance? If you don't know as much as you should, an unscrupulous agent who meets with you might convince you to purchase a product that could cost you hundreds or even thousands of wasted dollars. Today we'll dive into the basics of life insurance, including, how insurances are priced, how term and permanent policies are different (and the same), and why most people shouldn't look at insurance as an investment. Even if you know some general "rules of thumb" about insurance, there's a good possibility that you should be able to round out your product knowledge in a deeper way.
Speaking of unscrupulous, during our headlines segment we dive into a new alleged scam. How do you spot a financial "professional" who's really asking you to invest in a product that doesn't exist (or one that's not suitable)? We'll talk about clues to sniff out bad actors and also discuss the particulars of the investments that were used so that you know more about the upsides and downsides of the "weapons" this particular scammer used.
It's a fun Wednesday deep dive for us! Hope you enjoy it!
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Transcript
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| 0:00.0 | Can you fly this plane and land it? |
| 0:03.4 | Shirley, you can't be serious. |
| 0:05.1 | I am serious, and don't call me Shirley. |
| 0:12.3 | Live from Joe's Mom's Basement, it's the Stacking Benjamin Show. Benjamin's show. |
| 0:32.5 | I'm Joe's mom's neighbor, Doug, and let's simplify the seemingly complex topic that is life insurance. |
| 0:34.0 | No guests, just Joe and OG, digging in with their take. Plus, another financial advisor |
| 0:40.6 | in an alleged $100 million Ponzi scheme? Oh boy, we'll get down to the bottom of this |
| 0:47.6 | and how it affects your money during our headline segment. And later, I'll share another |
| 0:53.6 | round of my amazing trivia. And now, I'll share another round of my amazing trivia. |
| 0:56.8 | And now, two guys who know it's September 1st, so they're first in line at Starbucks for |
| 1:03.0 | pumpkin spice lattes. |
| 1:04.9 | Well, at least one of them is. |
| 1:06.5 | It's Joe and O, J- Jha, Jha, J. |
| 1:15.2 | They are so good, but it still feels too early. |
| 1:18.1 | It totally feels too early. |
| 1:18.9 | It's because it's 97 degrees. |
| 1:20.6 | It is. |
| 1:21.2 | I don't know. |
| 1:22.1 | It is fall somewhere, but it definitely isn't here. |
| 1:24.2 | Hey, everybody. |
| 1:25.1 | Welcome to Turn the Calendar Day. I'm Joe SLC. I have |
| 1:29.1 | Joe Money on Twitter and across the card table from me, getting ready to light up the microphone. |
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