How Life Insurance Policy Loans Work / Wealth Labs Podcast with Garrett Gunderson

There is a lot of misinformation in the world around various types of life insurance policies. Today, I have brought on Tim Cardon to navigate the waters of the elusive Universal Life Policy and give you some clarity on what types of Life Insurance you should be looking at.

Time Stamps:
1:02 – When you say pay yourself interest when loaning yourself money from your policy, you mean your whole life policy?
2:35 – Garrett’s Experience with a variable universal life policy
3:10 – How Variable Universal Life works
6:50 – The origin of Universal Life Policies
11:42 – Why most whole life policies aren’t a great option
14:42 – Recommendation when getting life insurance
15:15 – Why Whole Life Insurance is one of the best savings strategies available

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Garrett is the author of the New York Times and Wall Street Journal bestselling personal finance book Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.

He is the Founder and Chief Wealth Architect of the Inc. 500 firm, Wealth Factory. A regular on ABC’s Good Money, he has been on Fox, CNBC, as well as hundreds of radio interviews, and is a contributor for Forbes. Garrett is a frequent speaker at workshops and conferences. He lives in Salt Lake City.

Garrett has also been interviewed by some of the greats in the personal development space like Hal Elrod, Robert Kiyosaki, Ryan Moran at the Capitalism Conference, Dan Sullivan from Strategic Coach, the Mindvalley Podcast, Project Life Mastery with Stefan James, Joe Polish of Genius Network, Entrepreneur on Fire with John Lee Dumas, The Science of Flipping with Justin Colby, The How of Business, and many more!

If you want to build sustainable wealth, increase your monthly cash flow and enjoy economic independence without using budgets, cutbacks, limiting your lifestyle or adding new customers to your business, then Garrett & the Wealth Factory team can help provide the tools and training you need to build the life you love.

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