This is such a good breakdown. I have already tried to break it down for folks, but the different parts tip me up so much. This will now be sent to anyone and everyone who asks me about this. So good! Thank you!!!
This breakdown of policy costs really clicked for me - I didnt realize how the cost of insurance keeps rising even when a policy is supposedly "paid up". Had a relative whose whole life policy almost lapsed at 70 because the dividends couldnt cover the insurance costs anymore, total mess. The crater metaphor makes alot of sense when you think about how these things can implode if the numbers stop working in your favor.
This is such a good breakdown. I have already tried to break it down for folks, but the different parts tip me up so much. This will now be sent to anyone and everyone who asks me about this. So good! Thank you!!!
This breakdown of policy costs really clicked for me - I didnt realize how the cost of insurance keeps rising even when a policy is supposedly "paid up". Had a relative whose whole life policy almost lapsed at 70 because the dividends couldnt cover the insurance costs anymore, total mess. The crater metaphor makes alot of sense when you think about how these things can implode if the numbers stop working in your favor.