How Long Should One Pay Life Insurance Premiums For?
For as long as possible or stop as soon as the policy will fund itself internally at parity?
My question to you is “When You Get Paid, Where Do You Put ALL Your Money?
Most people ask, “How Much Do I Have to Pay?” when asking about the cost of Life Insurance. I know that a client has understood the enormous value of the properly designed policy with the most Infinite Banking friendly company when they ask me, “How Much Can I Put In?”
It has come to my attention that many life insurance agents recommend their clients stop paying their premiums after their policy has reached parity. What does parity mean in this instance? It means the amount of premium dollars paid into the policy equals the amount of cash value available to use as collateral for privatized financing strategies.
Once parity is reached in the types of policies we design, the client no longer needs to pay premiums to keep the policy active because the values generated within the policy design will cover the costs of the premium for them. This is a wonderful insurance benefit in case one loses their job or one becomes ill etc. and cannot afford to make the payments, however, it seems this tactic is a way for insurance agents to set themselves up for return business by opening a new policy for the client 5 or 6 years down the road, but I believe, for the wrong reason — their pocket.
Categories: BANKING with INSURANCE, CLIENT LESSONS, COLLEGE SAVINGS PLANS, INSURANCE PREMIUMS, L14) Paying Premiums from Policy Values, Life Insurance Premiums, PRIVATE RESERVE STRATEGY™
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.
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.
Categories: BANKING with INSURANCE, CNBC - Life Ins. New Asset Class, FINANCIAL EDUCATION 101, Universal & Variable Life Not For BANKING, VIDEOS
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