One of the most influential voices for the physician financial do-it-yourselfers is James Dahle, MD. You may know him as the White Coat Investor. This week he published an article in Physician's Money Digest with 5 Reasons Not to Buy Indexed Universal Life Insurance.
I am not a financial advisor; I'm a physician doing my best to make informed financial decisions. From my perspective, IUL makes a lot of sense. It offers protection from what Nobel winner Daniel Kahneman describes as the irrational fear of loss. I know there are other wealth-building advantages, but from my perspective this is the most important. (Please take note; I know other physicians feel the same way.)
If you use IUL as an investment vehicle, I recommend that you study Dr. Dahle's arguments. You might even consider creating a video that critiques his arguments. Distribute it to your physician prospects and clients.
I remember a frustrated patient asking me, "Should I eat the #*$@)^ eggs or not? Why don't you doctors just get together, come to an agreement about whether or not eggs are healthy and send us a memo."
Physicians have a similar challenge trying to make sense of the contradicting investment messages from the experts.
That’s why physicians need trusted financial experts like you. Translate and interpret financial news. Every client has the same question: "What does this news mean for ME?" When you proactively answer this core question, you offer true value as a trusted expert.