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…
Categories: TERM or WHOLE LIFE
Please click on the picture below for the Corner Bank loan details.
We will be comparing the numbers between taking a corner bank loan with taking the exact same loan from Mr. Client’s own private banking system.
The details of the loan are
a $14,500 loan over 48 months @ 3.5%.
The monthly payment will be $324.16 and we will be adding $10.08c annually just so we can round the numbers up to $3,900 of annual payments.
The point of this exercise is to show how the interest the insurance company charges is irrelevant and nothing to concern yourself about. More »
What happened when James Stewart (George Bailey) went to the bank to ask for a loan?
He was first asked by the banker (Lionel Barrymore as Mr. Potter) , “What collateral do you have?” His Answer,
Click here to view George’s answer on video
Next question asked by Mr. Potter was, ““How much equity do you have in it?”
Our grandparents and great grand parents generations knew the value of Whole life insurance. They did not have Term Insurance with zero equity and that runs out or cost too much when they needed it most.
Term insurance has its place but should not replace properly designed permanent life insurance.
Categories: RETIREMENT, Whole Life vs Social Security
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, NELSON NASH, Nelson Nash’s Thoughts On Universal Life And Variable Life, Universal & Variable Life Not For BANKING, VIDEOS
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