But he comes up to me and he says Chris I need to get some life insurance because I just got married and now I’ve got a kid and I’m like why are you doing that he’s like well if I die I want to make sure that I can take care of my my wife and my kid and I’m like you’re telling me that you’re doing life insurance for the death benefit bro that is so archaic so I promised him that I would make him and you a video on the
Five actual benefits of life insurance that I benefit from each and every day one foreign this is what most people think life insurance is about it’s about stacks of cash where you’re like ooh make that stack big enough and maybe I’ll knock off that person that I love and take the winnings and hello father you know Socrates said
no they actually have systems against that kind of happening for the most part probably not foolproof but seriously intentionally killing a policyholder will void all life insurance benefits but really it’s like life insurance is for people that die right and then you get a pile of money and then they can take care of and service your debts hopefully have some leftover money tell you right now one of the saddest things
I’ve ever seen in my life is losing friends to death that didn’t have life insurance and I’m like you’ve got to be kidding me what about your loved ones that you left behind you know how cheap it is to have insurance but that’s not what we’re talking about today we’re not talking about basic term life insurance we’re talking about the living benefits that come from cash value life insurance and there are several I’m just going to hit the top
5 Benefits of Life Insurance for the Living
Five right now by the time this article is done I can all but guarantee you’re gonna be like whoa are you telling me that by owning a life insurance policy instead of the death benefits that there’s things that can benefit me every single day right now yeah and there’s five of them now let’s get clear on something right now I’ve got stacks of cash everywhere because I’m a business owner and I love business and my whole game for being in
The game of life insurance is actually all about being smarter financially for my family but also in business so these five benefits have to do with intelligent ways of maneuvering money but aside from that some other reasons why you want to definitely watch today’s videos because did you know as of like right now there are 106 million American adults that don’t have life insurance and half of the people that don’t have life insurance they don’t do it because
5 Benefits of Life Insurance for the Living
They estimate that it’s three times more expensive than it actually is so let’s talk about the five benefits but let’s first draw attention to this why do I have my phone number here either um I’m desperate for friends or I fancy myself a mentor that really likes to help people financially you can literally text this phone number and ask any questions about today’s video or if you’re a subscriber on my YouTube
Channel or any of my other social media you want to talk real estate you want to talk about business mergers Acquisitions being a billionaire guess what text me let’s have that conversation but in the meantime let’s get back to life insurance so let’s talk about the kind of life insurance a whole life insurance policy that allows you to not just put money in to cover your death benefit but to put extra money in it like a very special
Type of bank account and what happens when you put money in this kind of account is it builds up what’s called a cash value cash value life insurance is an asset that you actually own and unlike term insurance where all you’re really doing is paying for the death benefit whole life insurance is permanent and stays with you for life as you continue to fund your insurance policy you’re basically building equity in a policy and the flexibility for your
Finances to be able to access some of that money so it literally might look like this each one of these stacks for example is worth ten thousand dollars and um let’s just say that ten thousand dollars covers several years worth of you know millions of dollars of life insurance let’s just say that that is the case did you know that I can live literally take my excess money and put it in on top of that each and every month
I mean you realize that to get ahead Financial you’re probably saving money right like hopefully you’re living within a balanced budget and you’re saving um you know money at the end of every month after you cover your expenses in other words you’re living below your means now there’s two reasons why you’re doing this you’re either an accumulator that says I just like to access stacks of cash you can put it in a bank you put
A life insurance policy there’s benefits if you put it into life insurance but really the reason why I like to accumulate money in an insurance policy it’s not because I’m I’m an accumulator it’s because I’m an investor what I’m saying is that instead of taking my money and then just putting it in like a savings account where I could easily access it and the bank’s like oh we’ll pay you point zero nothing percent on your money if you put it here and they
Give you a dum-dum on the way out because they’re actually taking your money and actually lending it at 50 to 80 times the cost of what they’re actually paying you what’s up gun the money in your account it didn’t do too well it’s good what do you mean I have a hundred dollars not anymore you don’t poof banks are smart and I don’t like to I don’t like the banks to win so I act as a bank in my own right and I do that.
5 Benefits of Life Insurance for the Living
Through life insurance I Bank my money in a policy and I build a cash value because of the following benefits that it gives me benefit number one I can put my money in and I can take it out it’s called a withdrawal it works just like a bank account except there are some really cool perks that I get because what I’m really doing is taking a loan against it while it’s still sitting in there and the money is cheap compared to the dividends that it’s actually
Producing withdrawals from your policy can be made anytime without penalty although they temporarily reduce the death benefit they provide liquidity when you need it and the withdrawals are tax-free up to the amount that you paid in premiums bottom line is I can put money in I can take my money out and I do that because if I put it in and then later access some of it for investing I can actually create benefit on what’s in the policy and I can create benefit on
What’s in my investment add the two of them together you’re going to get a higher Roi the second benefit is that I get some guaranteed returns when I house my money in a life insurance but I call a life insurance bank account you see in this type of cash value policy I’m earning money in two different ways number one is the state guarantees that I get to make a certain amount of money it’s usually somewhere around two or three
Percent just for having my money in there but on top of that I’m also earning tax-free dividends which are usually another one two or three percent which means if you add it all up you could literally be earning four five or six percent a year on your money all of it tax-free all while it is literally sitting in there in your life insurance bank account or even if I borrow it at two or three percent I’m still earning the six percent on everything that’s in
5 Benefits of Life Insurance for the Living
It which means that I’m still earning whether the money is in or out I’m not saying that you’re going to get rich on four five six percent that’s also why I don’t put money in 401ks and IRAs but it doesn’t mean that I can supercharge my investments because if I can pick up some points there I get the benefit while it’s also invested earning money over there as well that leads me to benefit number three it’s a hedge against inflation as in
Right now inflation is sitting right at the 12-month average of 8.2 percent and I want you to think about that literally if you have a hundred thousand dollars sitting in a bank account then just by the passage of time with 8.2 percent inflation I’m losing eighty two hundred dollars of buying power on my original dollar so if I can be picking up four five six percent on it that is a hedge it basically works against inflation versus my money sitting in a bank
Account where it’s just losing it the full rate of inflation listen the 100 year average on inflation is like 3.1 percent and even though we haven’t seen this high of inflation for the last 30 years it’s a Market Force that we don’t experience very often a Market Force that we do experience on a regular basis is a down Market as in when we go from a bear Market to a bull market and back down into a bear Market when the market goes down most people’s
IRAs 401K stock portfolios mutual funds take a hit but if your money is sitting in a life insurance policy with those guaranteed returns and those dividends that’s another hedge against not just inflation now but also down markets that happen on a regular basis for those taking regular withdrawals from a retirement account or borrowing against your policy it offers you the flexibility to not sell portfolio shares until the market rebounds this protects
Your principal giving more protection to annuitized income bottom line is it gives you some options for me it’s really about putting my money in taking my money out having benefits on it having it grow tax-free having it protected and that’s what leads me to the next benefit listen while there’s other benefits of cash value life insurance policies I’m going to touch on one more today and it’s that your money becomes Untouchable
As in the government has not been able to find a way or has a desire to liquidate money out of a life insurance policy because it is generally intended for your loved ones for when you pass on you committed the crime they’re not trying to punish your family and I’m not saying you have committed a crime but let’s be honest we live in a very litigious World um I’ve been sued on a few occasions it’s kind of a byproduct of doing as
Many businesses as I do and I once paid a million dollars to defend myself and I remember feeling very very vulnerable a life insurance policy the money that’s in there that stuff is a No-No touchy no one has access to it and that’s a meaningful enough protection for me a reason for me to want to do that because at the end of the day the last thing you need is some freak accident to financially take you out listen in today’s video you’re either
Watching because you’re interested in what I do in finance business franchise real estate side hustles whatever and you’re looking for a more intelligent way to funnel your money through intelligent sophisticated Financial systems or you just happen to dance across this because genuinely you’re interested in life insurance and how to do it the right way well in either scenario there is a link below this video for you to actually get in contact
With me or a member of a life insurance company that I really believe in that can help you get set up the right way the first link is to get a free game plan with me and my team on how to build a very successful financial future because again before you move that money in there you’ve got to be asking is it for real estate is it for business uh is there active income passive income or residual income what am I trying to create what are my goals talk to my team
5 Benefits of Life Insurance for the Living
And get a financial game plan or if you’re like no no no no I’m just I know that I’m ready to start my life insurance policy Chris who are the right dudes well I’ve spent a decade of finding the right dude and his amazing company and it’s called epic life insurance there will be another link below where you can connect with them and they will get you hooked up hey Kris Krohn I actually can’t qualify for life insurance because I’m dying
They won’t underwrite me I can’t get a policy I met a man who has less than 10 years left to live and he came into my studio we made a video on how do you set your loved ones up for life if it can’t be through life insurance how do you get them set in five years or less and if you want to know how that very awkward but very important conversation turned out click here and let me show you Read more…
