My first job out of college was with a
life insurance financial planning company in Manhattan. At first it was a pretty seductive, high energy environment. Unfortunately reality reared its ugly head pretty quickly thereafter. I couldn’t understand why life insurance was the right product for everybody, whether they were 30, 40, 50 or even 2. Yes, we were encouraged to sell whole life policies to grandparents; it was beyond gross.
For me, the final straw was when I was handed a book, Bank On Yourself. I read this book and literally was unable to even. I had to get out of that place.
Michael Kitces just wrote an article that brought back some of these memories for me. It was good to read his thoughts on cash loans from life insurance policies because I sure didn’t understand them even while I was attempting to sell them. Check out Michael’s thoughts regarding cash value loans.