INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, welcomed David Lewis to provide another commentary in a series.
There are few financial products as controversial as whole life insurance. Experts, financial gurus, and even many financial planners hate it. Policyholders, however, love it.
In the 1930s, the main way investors saved money was through endowment contracts, whole life insurance policies, and bank accounts.
Most people plow the majority of their personal cash savings into a qualified retirement plan, with small sums in savings accounts. The reason for the shift from life insurance to speculative investments has to do with certain industry trends, regulatory changes in the financial industry, and a small, no-name company in the 1970s that grew to be one of the largest sellers of term life insurance in the U.S.
In today’s commentary, I tell the story of how whole life insurance lost its status as the gold standard for personal savings in the U.S.
David has been a licensed life insurance agent since 2004. In addition to life insurance design and sales, he has also helped develop educational and marketing content for large financial firms like Allstate, New York Life, State Farm, AmTrust, and J.G. Wentworth. His articles and essays on life insurance and Human Life Value are currently taught at California State University (CSU) as part of its Expository Writing and Reading Course, and his articles on budgeting, life insurance, investing, and financial planning have been featured in online publications like ThinkAdvisor, The Huffington Post, NuWire Investor, and RealClearMarkets. David is also the author of several short eBooks on budgeting and saving money, and the designer of the xFlow™ budgeting app and the xCalc™ suite of financial calculators.
Visit www.monegenix.com to learn more.
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