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14: The True Cost of Term Insurance
Manage episode 486001300 series 3639347
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Is term insurance to blame for the fact that every generation essentially has to start from zero, financially?
In this episode, I break down the real financial math behind term insurance versus whole life insurance, revealing how a seemingly 'cheap' $1,100 annual term premium can actually cost a family over $43 million across three generations. I'll show you why comparing these two types of insurance requires understanding net compound costs, not just premium prices.
- (00:00) - 113 The True Cost of Term Insurance
- (00:14) - Introduction to Asset Classes
- (01:10) - Renting vs. Owning
- (02:29) - Understanding Cash Value and Policy Equity
- (04:08) - Grade School Math vs. Financial Math
- (05:58) - Net Compound Cost of Term Insurance Premiums
- (11:08) - Generational Impact of Expiring Term Death Benefit
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