Navigating Life Insurance Choices: Investing, Variable Policies, and Financial Growth

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 13 November 2024

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Explore life insurance as an investment tool, understand variable and infinite banking, and consider complex insurance choices. What’s the right life insurance policy for you? What is “infinite banking” and how hard is it to set up? Hosts Sean Pyles and Sara Rathner discuss the intricacies of life insurance as both a protective measure and a financial instrument to help you understand its potential for investment and financial growth. NerdWallet insurance pro Lisa Green joins Sean and Sara to explain term life insurance and more complex life insurance options, such as variable life insurance, and the concept of “infinite banking.” They discuss the nuances of investing extra money into the cash value of a permanent life insurance policy, highlighting guaranteed interest rates versus market risks, and who might benefit from these types of policies. Additionally, they delve into the infinite banking concept, explaining how it works, the financial discipline it requires, and potential pitfalls. This episode is designed to help listeners navigate their life insurance choices and create a balanced financial plan. In their conversation, the Nerds discuss: term life insurance, permanent life insurance, life insurance investment, life insurance premiums, variable life insurance, infinite banking, cash value life insurance, life insurance strategies, life insurance options, term vs permanent life insurance, life insurance costs, life insurance benefits, financial planning, life insurance risks, borrowing against life insurance, financial growth, investing in life insurance, high-yield investments, insurance market risks, life insurance for smokers, funeral expense insurance, and financial security. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:22.8	entrepreneurs like you. Sign up for your $1 a month trial at Shopify.com slash setup.
0:30.6	Hey listeners, this is Sean. Please enjoy this episode from our archives. And as you listen, think about
0:35.9	what your main money question is right now,
0:38.9	this week, today, this hour, this minute, what's the thing that you need help with most
0:43.9	immediately? We nerds are here to help you. So send your money questions our way. You can call
0:49.2	or text us on the nerd hotline at 901-730-6373. That's 901-730 N-E-R-D, or email us at podcast at nerdwallet.com.
0:59.8	All right, here's the episode.
1:04.1	Welcome to Nerd Wallet's Smart Money Podcast, where you send us your money questions and we
1:08.5	answer them with the help of our genius nerds. I'm Sean Piles.
1:11.7	And I'm Sarah Rathner.
1:12.8	If you have a money question for the nerds, call or text us on the nerd hotline at 901-730-6373.
1:19.1	That's 901-730 nerd.
1:21.2	Or email us at podcast at nerdwallet.com.
1:24.6	Follow us wherever you get your podcast.
1:26.6	And if you like what you hear,
1:31.5	leave us a review and tell your friends. We're back in answering your real-world money questions to help you make smarter financial decisions. This episode's question comes from James,
1:35.8	who sent us an email. Here it is. Hello, nerds. I got contacted about setting up life insurance
1:40.6	as a way of borrowing against myself for investments to grow my money.
	...

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