Episode 303: Suze Orman goes on EPIC IUL Rant--“I’m BEGGING you not to do them!”

This episode addresses Suze Orman’s epic IUL rant on her Women and Money podcast. Suze Orman begged her audience not to do Index Universal Life insurance policies. This very broad brush and no nuance approach of every financial guru is what David’s upcoming book The Guru Gap touches upon. David explains why the generic approach financial gurus tend to have is leading people astray. David brings up Orman’s advice to one of her listeners who has been investing $200/month into an IUL policy. David recreated this listener’s exact policy through one of the top IUL carriers in the industry – he shares his findings. Starting an IUL is like getting married: it only really works if you plan on keeping it until death do you part. David goes over the reason why IUL should be the last bucket to turn to for liquidity in the early years.  These days, most IUL carriers these days allow you to receive your death benefits in advance for the purpose of paying for long-term care. David believes that “an...