Money Meets Medicine Podcast
MMM #45: Why You Should Buy Whole Term Life Insurance
Have you thought about the difference between whole life insurance and term insurance? Do you feel like your insuracne agent just might not have your best interested at heart (hint: he probably doesn’t)? Well then this is the right episode for you. Keep on reading while we discuss why whole life insurance is right for you!
What You’ll Learn:
In this episode of Money Meets Medicine, ”Why You Should Buy Whole Life Insurance, ” you’re going to learn…
- Why you should get whole term life insurance.
- Why your insurance agent may not have your best interest at heart.
- How much your insurance agent is making off of you.
- All of the things to consider in the term verses whole life insurance debate.
- And more!
Quotes To Remember
”One of the things that bothers me most about whole life insurance is that people that bring up this question with me most the time, when I talk to him about it, we’ll come to find out, they’re not maxing out their retirement space, they’re not paying off their student loans, they still have a boatload of debt.”
”This is insurance that’s going to cover you for your entire life You get nothing with whole life is designed to be there until you’re 120.”
”Insurance is insurance, investments are investments never mix the two. And if an insurance agent or anyone starts talking to you about as it’s an investment, immediately know this pitch is coming and just get the hell away. Run seriously…”
Resources from the Episode:
This Episode’s Sponsor
Shopping for disability insurance is complicated enough. Wondering if you are getting the best prices and discounts can make the process even more overwhelming. This is where Pattern can help! Recently, Principal Financial announced that their unisex discount is being eliminated at the end of 2020. This means the best pricing for most female physicians will disappear December 31st. Female doctors need to request their free quotes today to potentially save 50% or more. You can be confident you have the right policy at the best price possible when you request your disability insurance quotes with Pattern at thephysicianphilosopher.com/PatternInsurance
Subscribe in Your Podcast Player:
If you love the show – and want to provide a 5-star review – please go to your podcast player of choice and help other listeners find the Money Meets Medicine Podcast, too! If you think that our podcast is terrible, send me an email and I will
throw your email into the trash consider your constructive criticism to improve the show.
Seriously, though, go leave a review. It helps others find the Money Meets Medicine podcast, too.
You might also be interested in…
Our brains are not wired to think exponentially. They are wired to think linearly. Maybe this explains why so many doctors, well people in general, don’t invest early enough and take advantage of one of the best tools- compound interest. Today we explain the magic of compound interest and how exponential growth is going to blow your mind. The impact of compounding is massive!
Taxes are a boring topic to talk about so this won’t be fun. Taxes, 401Ks, and 1099 are the least favorite topics but they need to be discussed. As a physician you are probably asking how you can save more money on your taxes. The most popular answer is…earn less income! More jokes to come today so we can try to make this topic fun! Let’s go ahead and start with 1099 income and how you can save on your taxes with this.
If you have been wondering if you are checking the right boxes and doing the “right” things with your money, then this episode is for you. In this episode we talk about the importance of disability insurance and life insurance, and how to handle your loans and pursue public service loan forgiveness. Find out which boxes you need to check as a doctor when it comes to your personal finances and learn which ones you can skip.