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Sound Financial Group - Bothell, Washington


SFB084 Basics of Life Insurance, Part 4 - What Kind of Company Should You Choose?

| November 21, 2017
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Episode Summary

In part 4 of this seven part series on the Basics of Life Insurance, Paul sits down with Cory Shepherd, President of Sound Financial Group and author of Cape Not Required, and discusses the different kinds of insurance companies out there and what you should look out for before choosing one of them.

What Was Covered

  • 02:07 - A brief overview of the types of insurance companies and what to be aware of
  • 03:41 - The things the board of directors of major stock companies are concerned with
  • 04:15 - What a mutual life insurance company is concerned with
  • 05:25 - Paul explains what Comdex is
  • 08:24 - Why you should consider acquiring term life insurance from a mutual company that has a participating whole life insurance policy
  • 09:48 - Why convertible term insurance is more expensive than non-convertible term insurance policies from stock insurance companies
  • 10:53 - Paul explains what he finds is best when buying some insurance from stock companies
  • 11:45 - The types of mutual life insurance companies you may want to consider
  • 16:08 - Paul explains waiver of premium


"You would want any insurance company you acquire life insurance from to at least be a 90 on the Comdex."

"A huge amount of the total purchasing of guaranteed universal life insurance policies come from stock companies."

"This is at least a million dollar decision in your financial life, maybe more."

"We need to have that waiver of premium in case we covert it."

"There are things that can prevent you from owning life insurance, that’s why the conversion is so important."

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