Should We Buy IUL Policy?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 18 September 2020

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of the things that really gets my blood boiling is when so called financial advisors are pitching products that are in no way appropriate. One such product is the Indexed Universal Life Insurance policy. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:25.0	Search British Red Cross to support us.
0:27.0	Together, we are the world's emergency responders. Welcome to the Jill on Money Podcast. It's Friday, September 18th. Let's all sneak in one last very important podcast of the year.
0:44.9	Get it? It's the year.
0:46.9	I know, you don't know what I'm talking about many of you who are not Jewish,
0:49.7	but it is the Jewish New Year at sundown this evening, so happy Russia Shana, La Shana Tova to those who are listening.
0:58.0	And for the rest of you, it's just a Friday.
1:01.3	So if you'd like to ask a question of us all you have to do is send an email.
1:06.0	It's Ask Jill at Jill on Money.com. That's what Sherry did. She is writing about a long-term care policy.
1:14.0	And she says, Jill, I have a dilemma.
1:17.0	I have had a long-term care policy through John Hancock since 2012.
1:22.0	The premium started at $2,000 a year. Now it's $3,000 a year.
1:29.0	$24,000 has gone into the policy and I don't know if I should keep it. I have two paid off
1:34.5	properties, two annuities worth 400,000 and other investments worth 100,000. I
1:40.4	know the premiums will keep going up, who knows, I'm 73 but much younger chronologically.
1:47.0	What's your opinion? Keep paying or invest the premium amounts in other investments?
1:52.0	Long-term care is a tough one guys. premium amounts in other investments.
	...

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