What to Do With Whole Life Policies?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 13 January 2023
⏱️ 12 minutes
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Summary
My wife and I are in our late 30s with one child and we each have whole life policies with annual premiums of about $5,800 between the two. Should we keep the policies?
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 0:00.0 | Welcome to the Jill On Money Show. It's Friday, January 13th. I don't really buy into |
| 0:09.2 | the whole Friday the 13th thing, Mark. I'm just more of a, I like 13s. I think it's |
| 0:14.0 | one of those quite quirky weirdo numbers. Who wore number 13? Who's a, someone who's |
| 0:18.4 | important in sports? Who do we know? 13, the only one I can think of, and I'm not a fan |
| 0:23.5 | at all Alex Rodriguez. Oh, right. Perhaps the biggest phone either is. |
| 0:35.8 | Well, I only own one Jersey, and it is an islander Jersey that was given to me, which is how I |
| 0:41.4 | knew I got entry into my family of marriage, you know, and relationship. So once I got that, |
| 0:48.5 | I knew that I was in, but I don't have a number Jersey. Do you have a Ranger's number Jersey? |
| 0:52.8 | I have one from my youth number eight back back when I was a kid. I loved Darren Turkot on the |
| 0:58.3 | Rangers, and he was number eight. It's the only player Jersey I have. I mean, all of your stuff, |
| 1:03.2 | that's in pretty amazing. I wonder, like, I think Jackie has a couple. No Clark Gillies for you, |
| 1:08.9 | man. No Mike Bossy. I think Jackie would probably love Mike Bossy more than anyone else. Maybe Bobby |
| 1:13.5 | not nice, Trump. That could be her, that would probably be her biggie. She loved Bobby nice, |
| 1:17.8 | Trump 23. How do I know these things? I really got to expand my world a little bit. Okay. If you have |
| 1:24.6 | a financial question, we'd love to hear from you. All you need to do is go to our website, |
| 1:29.6 | jillonmoney.com. Click the contact us button. And we like to make sure that we answer your emails. |
| 1:36.1 | So here is an email episode, which I don't know. Some of you may like them better. I don't know. |
| 1:40.8 | I like the interaction with people. Absolutely. Nancy writes that she enjoys the pod and the radio show, |
| 1:47.0 | which airs in her area, WBEN Radio in Buffalo, New York, one of my favorites. Okay. This is the |
| 1:54.5 | query. When I lived in North Carolina, I joined a credit union that is now offering 3% on CDs. |
| 2:01.6 | I still have money there, even though we have moved to New York. Can't find any comparable credit |
| 2:06.5 | union or bank that's offering as high an interest rate. Why is it higher in North Carolina that it |
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