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beyond MD with Dr. Yatin Chadha
beyond MD bridges the gap between medical training and financial literacy.
Led by mid-career Canadian radiologist, Yatin Chadha, beyond MD empowers practicing physicians, medical trainees, and other professionals to build confidence and clarity around money.
Episodes feature interviews with subject experts to help listeners gain knowledge around topics like professional corporations, investing, insurance, pensions, real estate, trusts, and estate planning.
Yatin also frequently interviews his own colleagues to shed light on valuable life and money lessons learned over time.
Tune in to beyond MD (episodes are bi-weekly) to build your financial acumen and live your best life today.
beyond MD with Dr. Yatin Chadha
Ep #91 - Dissecting Immediate Financing Arrangements (IFAs) with Promod & Jeevan Sharma
Today I welcome Promod Sharma & Jeevan Sharma to the show to discuss the immediate financing arrangement (IFA).
Promod (actuary) & Jeevan (CFP) specialize in helping high-net-worth individuals & tackling their unique situations beyond basic insurance coverage.
Discussion Points:
What is an IFA? (2:17)
Whole life (WL) vs Universal life (UL) - which is more suitable for an IFA? (3:41)
What is the cash surrender value (CSW)? (7:35)
How can policies be structured to allow for IFAs...Important (9:30)
Who could benefit from an IFA? (16:55)
IFA mechanism:
- policy as collateral (23:23)
- how large can the loan be? (24:42)
- lenders (26:32)
- personal vs corporate loans (27:57)
- loan rates (30:58)
- guarantee fees (31:35)
Does IFA impact policy growth? (33:34)
Using policy as collateral vs directly borrowing from the policy (34:20)
How are IFAs tax efficient? (36:34)
Loophole? (42:34)
Fees (44:55)
Ways to pay off the loan (45:44)
Permanent life & IFA checklist - Important (46:25)
When not to pursue an IFA (50:56)
IFA risks (53:09)
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This episode features Arya EHR - https://www.aryaehr.com/
**I endorse only products/services I personally use or would use. Any income generated offsets the costs of running this podcast
Promod Sharma & Jeevan Sharma:
https://www.linkedin.com/in/promod/
https://www.linkedin.com/in/jeevanksharma/
Yatin Chadha:
Email: beyondmdpodcast@gmail.com
LinkedIn: Yatin Chadha