About this episode

Mary Jo Irmen discusses the performance and risks of various life insurance policies and their implications for farmers.

Are you wondering if your life insurance policy will actually be there when your family needs it? Mary Jo Irmen walks through multiple real-life life insurance policy review illustrations showing exactly how flexible premium universal life, variable universal life (VUL), and adjustable universal life policies perform over time — and why so many of them collapse before you're likely to die, leaving your family with no death benefit and no cash value. What you'll learn in this episode: What an in-force illustration is and how to request one from your carrier Why universal life policies often reach zero cash value before the insured's death — leaving families with NO death benefit Real example: $82,000 paid into a policy → zero payout at death How a VUL policy on a 38-year-old lapses completely by age 79 The difference between "current charges" and "max charges" — and why it matters for your life insurance policy lapse risk Why whole life insurance (with paid-up additions rider) is the superior alternative for farm estate planning and farm succession planning How whole life insurance cash value grows predictably compared to universal life Why IUL (indexed universal life) and…

People in this episode

Host: Mary Jo Irmen

Topics covered

• life insurance policies
• universal life insurance
• cash value
• death benefit
• financial planning
• infinite banking

Keywords

• life insurance
• universal life
• cash value collapse
• death benefit
• financial planning
• whole life insurance
• VUL
• IUL
• policy review

Mentioned in this episode

Products: flexible premium universal life, variable universal life (VUL), adjustable universal life, whole life insurance, indexed universal life (IUL)

Places: farm estate planning, farm succession planning

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