The Tactics of Insurance Companies: Might as Well Die

Breakaway Wealth Podcast

English - August 09, 2019 07:00 - 28 minutes - 29.2 MB - ★★★★★ - 47 ratings
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Previous Episode: Nick Raithel: The 7-Hour Book

Next Episode: Starting from the Ground Up

In this episode, Jim Oliver and Nick Kosko discuss:

Average retirement age and mortality rates Modified Endowment Contracts Insurance's process of establishing minimum and maximum premium rates Term insurance

Key Takeaways:

Insurance companies will increase to adhere to the likelihood of one's own survival Between minimum and maximum, there are infinite amount of premiums that the insurance companies can charge Government was encouraging people to put money into qualified plans, deferring or postponing tax calculations. Government determines the maximum premium rate through the deficit reduction act, technical and miscellaneous revenue act.

"You're still relinquishing control and you are relying on hope as your strategy. Hope's not a strategy but you are hoping that you don’t run out of money before you die" — Nick Kosko

Connect with Nick Kosko:

Facebook: Nick Kosko

LinkedIn:Nick Kosko

Connect with Jim Oliver:

Facebook: CreateTailwind & Jim Oliver

Website: CreateTailwind.com

YouTube: createtailwind.com

LinkedIn: Jim Oliver

Show notes by Podcastologist: Chelsea Taylor-Sturkie

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