Twenty years after being saved from unem­ploy­ment by his rep­u­ta­tion as a solid left-handed pitcher, David N. Mul­lany was once again out of work. Except now, it was 1953 and he had a fam­ily to feed – a fam­ily that saw him leave the house in the morn­ing and come back in the evening and thought he still had a job. What he was actu­ally doing was look­ing for one and bring­ing home the money from his cashed-in life insur­ance pol­icy. After every fruit­less day, he would return to the same scene: his son play­ing base­ball with his bud­dies in the back yard. Their only care in the world was fig­ur­ing out how to throw a curve ball.

My two cents — I was sad­dened when I saw the words cashed-in life insur­ance, when I know that he could have bor­rowed from his cash value and paid it back after he earned enough to. That way he would have kept his life insur­ance pol­icy and the cash value that may have come in handy at a later date. His fam­ily would have kept the pro­tec­tion of the death ben­e­fit also.

He could throw a lazy curve,” said his son David A., now 70 years old. “And I could never do it.” Right about then, Mullany’s life took a cra­zier turn than any Wif­fle Ball. The kids were play­ing with plas­tic golf balls that, try as they might, they could not spin. So the two Davids, father and son, began exper­i­ment­ing. They wanted to cre­ate a ball that would do the work for them. Mul­lany came across half-spheres of plas­tic that a per­fume com­pany was using in pro­mo­tional pack­ets and thought they might hold the solu­tion. Over the course of a week, they cut all sorts of pat­terns into them before finally set­tling on the now famil­iar one. “It was good enough to keep the rot­ten crew that I hung out with busy,” said David A., who soon began work­ing in his father’s fac­tory tap­ing the wooden bat han­dles. (Wif­fle Ball made skinny wooden bats until 1972 before switch­ing exclu­sively to plastic.)

Read the entire WSJ post here.

Term or Whole Life, that is the question?

The Cost of the Death Ben­e­fit over your life­time might just sur­prise you!

Most peo­ple try to find a life insur­ance pol­icy that costs them the least amount of money for the high­est amount of death benefit.

When one truly under­stands life insur­ance, you will look for a pol­icy that you can pay as much as you can into, for the longest time frame, with a grow­ing death ben­e­fit as the icing on the cake. Also, this pol­icy will appear as if it costs way more than other types of life insur­ance, but in actu­al­ity is com­par­a­tively cheaper.

How crazy does that sound? Ridicu­lously crazy right.

Some impor­tant ques­tions need to be con­sid­ered before decid­ing which type of life insur­ance suits your needs most, Term or Whole Life.  I have cre­ated a list of ques­tions you should answer before decid­ing which really does suit your needs most, as both types of insur­ance are nec­es­sary for dif­fer­ent rea­sons. The actual cost of the death ben­e­fit over your life­time just might sur­prise you.

Ask Your­self and Answer the Following…

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Choos­ing the Right Life Insur­ance Com­pany for IBC (Infi­nite Bank­ing Concept)

How does one choose the right LIC to prac­tice infi­nite Bank­ing with?

Thanks, GL

Hi Gary, This is a very impor­tant ques­tion as a client must under­stand the dif­fer­ences between insur­ance com­pa­nies before being able to make an informed deci­sion about whether what they are being told is a great com­pany with a great prod­uct, really is prop­erly set up for banking.

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Watch the  CNBC inter­view video below about how Whole Life Insur­ance is a safe asset that should be con­sid­ered for your port­fo­lio. You can be sure of a beyond decent return.

It is now an asset class for the gen­eral pub­lic. It has always been for banks, cor­po­ra­tions and col­lege endowments.

Click here to view video

9 rea­sons to add whole life insur­ance as one of your assets, accord­ing to the CNBC interview.

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