Episode 311: The Troublesome Cost Time-bomb of Universal Life Insurance with Lester Himel

Not Your Average Financial Podcast™

In this episode, we ask:

• Would you like to join us for the FREE! Not Your Average Financial Summit on the afternoons of September 6 and 7, 2023? Register here!
• Would you like to travel back in time with us?
• Do you remember the TULIP bubble?
• What about FOMO (fear of missing out)?
• What about herd behavior?
• What about the psychological tricks?
• What is anchoring?
• What about information bias?
• What about filtering out what we don’t want to hear?
• What about selective listening?
• Who is Les Himel?
• What about universal life insurance?
• Would you like to hear Episode 52, Episode 53, Episode 264 and Episode 265?
• What about a little arithmetic?
• Where is the 5% average rate of return?
• The return was 10%… well, was it?
• What does one need to pivot on?
• …50% of what?
• What is volatility?
• Would you like to learn more from Les at 82financial.com?
• What about universal life insurance?
• What about the index?
• Why does Les not want to sell universal life insurance (UL)?
• What happened in 1978?
• What was the original product design?
• What becomes more expensive?
• Is term insurance actually cheap?
• What is the true cost?
• What is the crediting rate?
• What about the cost of insurance?
• What happens then?
• What does the insurance company reserve the right to do?
• Who has received a dreaded UL letter?
• What about an analogy?
• How is universal life insurance DIFFERENT from whole life insurance?
• What’s the likelihood of dying at age 85?
• Will you lose money?
• Is it possible to execute a 1035 exchange with UL to whole life?
• What is the lapse rate of UL?
• What does it mean?
• Can you pay UL for a limited number of years?
• Are you on the hook to pay premiums for life in a UL?
• What type of life insurance is front loaded?
• What type of life insurance is back loaded?
• Who has been mislead?
• What about the recent regulations?
• What are the key takeaways?
• Is all that glitters gold?
• Would you get in that airplane?
• Is this another tulip bulb mania?
• What is the source?
• What obligation do they have to you?
• What is their credibility?
• Are you being influenced by emotions or bias?
• Are you seeking objective feedback?

Join us this year, as we explore
the roots behind what we’re inheriting
and how we can navigate in the future.

Who: You! + Amazing Speakers, Authors and Industry Leaders
What: The 3rd Annual Not Your Average Financial Summit
When: September 6-7, 2023; 1PM to 4:30PM CT both days
(Please adjust for your timezone.)
Where: Virtual
How: REGISTER HERE!

Lester N. Himel discovered the use of specific types of Life Insurance to enhance and expand the performance of investment portfolios several years ago; this after spending 28 years in a variety of positions on Wall Street. Like most financial professionals, he considered stocks, bonds and similar instruments as the core of a reasonable investment approach. In those last several years, Les has found the better way. Les comes to this field with a very broad financial background. He started as a compliance officer, worked in administration, was an institutional bond trader, developed an Emerging Markets business, and was also involved with “alternative investments”. Les prefers low risk and “guarantees”, and has an ability to simplify explanations of what, why and how. Contact Les at heiratlas.com.