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Bill Black: Life Insurance Facts You Need to Know Now

Stan Haithcock
September 26, 2023
Bill Black: Life Insurance Facts You Need to Know Now

Bill Black is the President of W.H. Black and Company and has been in the pension administration business for over 40 years. He is also responsible for the marketing efforts of – a full-service pension administration company that helps advisors nationally with the sale and administration of qualified pension plans.

He is the best in the business, and as a qualifying member of the Million Dollar Round Table (MDRT) and an eighteen-time Top of the Table and Court of the Table qualifier, puts him amongst the world’s elite financial professionals for his ethics and best business practices. Therefore when it comes to questions about defined benefit plans, 401(k)s, cash balance pension plans, and profit-sharing plans, Bill is my guy.

His ability to break down complex ideas into easily understood concepts is the reason why he is a highly sought-after speaker, author and educator around the world. He also produces a great quarterly newsletter that breaks down the latest legislative and administrative issues regarding plan management.

‌In this episode, The Annuity Man and Bill Black discuss:

  • The problem with indexed policies that agents don’t often talk about
  • Backtested numbers in the life insurance side
  • Insurance is not an investment
  • How do hybrid life insurance policies work

‌Key Takeaways:

  • An indexed policy is a loan, which is supposedly non-taxable. However, people aren’t told that interest is being paid out of the cash value of the policy and when it gets overwhelmed, the policy collapses under its own weight and becomes a forgiven loan. Forgiven loans are taxable as ordinary income in the year of that forgiveness.
  • When buying an indexed policy whether in life insurance or in an annuity, it’s best to get experts involved in the process. Don’t swallow the pitch, don’t trust backtested numbers. Trust experts who will inform you of both the limitations and benefits of a policy.
  • Life insurance is not necessarily an investment. When you buy retail policies, you buy them for risk coverage and liquidity. Consider the policies where you can pay the smallest amount of premium possible while getting the most coverage.
  • If you buy a life insurance policy with a survivor benefit and you end up not using your available long-term care coverage, your beneficiary gets the survivors benefit.

"Historical returns have nothing to do with future expectations." — Bill Black

Connect with Bill Black:

Website: Home


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Fun With Annuities Podcast is hosted by America’s Annuity Agent®, Stan Haithcock, The Annuity Man®. Hear brutal annuity facts with no sales pitches from the top independent agent in the country, licensed in all 50 states. Author of 7 books, Stan dives deep on all annuity types and strategies. It’s fun, learning the contractual truths on how annuities actually work and if they’ll fit your personal retirement lifestyle.

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