Business
Universal life (UL) insurance comes in a lot of different flavors, from fixed-rate models to variable ones, where you select various equity accounts to invest in. Indexed universal life (IUL) insurance allows the owner to allocate cash value amounts to either a fixed account or an equity index account. Policies offer a variety of well-known indexes, such as the Nasdaq-100 or the S&P 500. IUL insurance policies are more volatile than fixed ULs, but they are less risky than variable UL insurance policies, because no money is actually invested in equity positions. Prashant has a Bachelor of Engineering with 16 years of experience in technology field. Now licensed Finance professional running a successful financial services agency. Switched from Technology to Finance and helping families plan for their personal finances. Topics discussed during the podcast: Why did you switch from technology to financial planning? What level of diversification people should look at for their money? What is IUL and why would someone use IUL? What is the difference between dividend paying whole life insurance vs. IUL? Who are good candidates for Term, Whole life and IUL? Do you recommend one strategy over another? What do you see would be the impact of COVID-19 on real estate and stock market? Would you be changing any business or investment strategy after Coronavirus? Favorite real estate/finance or any other related book? How do you give back?