At least it is an opportunity for readers to ask financial advisors about life insurance.
August 1, 2023 by Sheryl J. Moore
Just what IS permanent life insurance?
That is what Devon Delfino and Jennifer Lobb set out to communicate in this week’s USA TODAY’s Blueprint content.
Click HERE to read Permanent Life Insurance Explained.
**********SN: Blueprint is for lead generation, so there is that.**********
This article was somewhat of a smorgasbord of life insurance information.
It caught my attention when the article stated that, “When the indexes perform well, cash value grows, though the opposite is also true [with indexed universal life].”
That isn’t true.
Indexed life earns 0% interest if the indexes don’t perform well. You do not lose cash value in the event of market downturns with this type of product.
By the way: Does anyone sell variable life insurance products anymore? You know- the whole life type product with variable subaccounts? Sound off if you know a company that still offers it. I haven’t seen it in ages.
And while the authors are quick to point-out that cost of permanent coverage is relatively expensive, compared to term, there is no mention that term life insurance is only temporary coverage. I would like for consumers to be aware that they cannot expect term life insurance coverage to pay a death benefit, no matter how long they live- even though it is less costly. There was no distinction made in this article that you cannot always renew the term on a term life insurance contract. I mean, once you get old the insurance company isn’t going to give you the option to renew because odds are that they are going to pay out a death benefit…
Otherwise, it wasn’t bad for lead gen.
At least it is an opportunity for readers to ask financial advisors about life insurance. *shrugging emoji here* -sjm