Is Life Insurance Coverage A Great Way To Invest Your Cash O…
Is Life Insurance Coverage A Great Way To Invest Your Cash
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Life insurance policy protection can be a fundamental part of smart financial prep work, nevertheless you require to use your life insurance policy protection the appropriate method. In this video clip, you will certainly find if life insurance policy protection is a superb monetary investment for your cash money
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Is Life Insurance Coverage A Great Way To Invest Your Cash
0:30 – Investing can be irritating so life insurance policy protection can make that spending treatment a lot easier
1:32 – Is life insurance policy protection an exceptional economic investment you can make
2:15 – How life insurance policy protection functions
2:49 – How life insurance policy protection service produce revenue
3:55 – How to defeat your life insurance policy protection returns
4:30 – The value of term life insurance policy protection and also exactly how to use term life insurance policy protection the correct method
6:24 – Just just how much term life insurance policy protection will certainly cost you
6:59 – How to obtain the greatest price on life insurance policy protection making use of out enroller Policygenius
8:19 – Comprehending whole life insurance policy protection and also contrasting that to define life insurance policy protection and also spending your cash money on your own
10:41 – How to use life insurance policy protection the correct means
11:24 – What happens if you outlive your term life insurance policy protection plan
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Video clip host: Jaspreet Singh
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It’s the state of mind of thinking in a various means than many of people. Please note: a few of the web links are from our enrollers, so if you use them, we will certainly obtain made up. He is a licensed attorney, nevertheless is he is not supplying you with lawful ideas in these video clips.
Thank you for watching! If you enjoyed this video, you should watch – 7 Life Insurance LIES You’ve Been Sold: https://youtu.be/v-s11GjDnc8
What about a Universal Indexed Life Insurance, this will increase 5%-6% and can evantually be used as invesment, Tax Free and will have a Life Insurance for life..
What are your thoughts??
@RC Marti universal isn’t whole life; it’s term with automatic renewal and the fees go up every year. Over 90% of the time, the investment money is eaten up by the renewal fees by the time you die. I’d recommend Jaspreet’s strategy (shared by many) over universal life.
Jaspreet is incorrect about whole life insurance, though. If you want to learn howe to use insurance properly, you need to read/hear all books by R. Nelson Nash, and _What Would Billionaires Do_ by Garrett Gunderson.
I was definitely dissapointed in your knowledge on this topic. I assumed you would be covering divided paying whole life policies or IUL’s. Then once you went over your sponsor, it all made sense.
“Dividends” as classified by the IRS concerning trash value insurance, are a “Return on Premiums” In other words, OVERCHARGE. Try harder.
How about a properly structured and funded cash value life insurance set to the TEFRA and DEFRA guidelines? I’ve ran SEVERAL simulations and it seems like after paying taxes on the gains Life Insurance tends to be a bit beyyrr
@Bryan Sorry, I was speaking of whole life insurance. Yes, you can get a Plan B option on ULs with a raised premium. Unfortunately, ULs are worse than whole life with the fees eating up the cash value leaving out of pocket costs for the consumer to cover the term. IULs are garbage with their high fees/commissions and capped gains. Trash value insurance is never a good purchase for the common folk. A few of the mega billionaires buy whole life to pass assets along to heirs, but that’s a small percentage of the population.
@Bryan Um, yeah, all the main carriers (Nyl, Guardian, Mass Mutual) do not payout the DB and CV upon death in a WL policy. Stop lying.
@astroman30 your ignorance is really
Showing. Whole life is different from Universal Life, however BOTH are still cash value life insurance. If the plan is written as an option B (increasing) then the amount at risk to the insurance company grows WITH cash value. So you are factually INCORRECT. I’d LOVE to have a live debate with you. It seems there’s some disconnect on your understanding of how these policies truly function. Kinda crazy how the biggest naysayers are the ones most afraid of a public live debate. Is it because you DONT KNOW YOUR STUFF? If you did it would
Be an amazing opportunity to humble someone who perhaps “thought” they knew their stuff.
@astroman30 not to mention, if your goal is create cash value and utilize the tax codes within the policy, you wouldn’t WANT a death benefit. The goal is to create self insurance through a policy. Utilize as much CASH value as the death benefit the company and IRS will allow. I’m not as big of an advocate for Whole Life as I am Universal Life. Since you CANT control the DB as much as an UL.
I have clients pulling out money from their cash value life insurances to put a down payment on their million dollar home purchases. Tell me again how it’s not an investment? You have no financial license so you are NOT allowed to talk about wealth.
And you pitch policy genius because you get compensation to mention them. Wow I thought you had more integrity than that.
What part of “The insurance company keeps your cash value” do you not understand. What part of “You don’t get your money back” do you not understand?
@Kim Dawson chat me up ☝️
Do you have video on Life Insurance Retirement Plan?
Can you tell us more about taking out a loan from life insurance?
The permanent insurance policy (whole life) has a cash value account within it. This money is the amount YOU put in it being that you are paying a high monthly premium where part of your payment goes into this cash value account. So, technically, you are borrowing against your own money and have to pay them an interest rate (6%) to borrow. You say, “Wait a minute, I’m being charged to borrow against my own money?” That’s correct. Keep in mind, it takes YEARS to develop any significant cash value as the first 4 years have so many upfront fees that it eats up nearly all your cash value. Plus, you can only borrow up to 90% of YOUR money. Here’s the kicker, when you die, the insurance company KEEPS your cash value only paying your family the death benefit portion of your policy. It’s a scam. Stay away.
Chat me up ☝️
Just did a social experiment and just got off the phone with policy genius and they straight up told me i cant use any type of life insurance for any type of investing or have any cash value loaned out to me and said that its stricly for death benefits. 🤷🏿♂️
Either you’ve misunderstood or they didn’t explain it very well. Anyone can go out and buy a whole life insurance policy. Within that policy you have a death benefit (what your beneficiaries receive upon your death) and you have a cash value segment (what you are able to borrow against to invest.) The insurance company has no say as to what you do with your cash value as far as investing. Term insurance only provides a death benefit and is waaaayyyyyyyy cheaper than whole life. My advice, ONLY buy term insurance and invest the difference (between the premiums of whole life and term) into your company’s matching 401K and/or a ROTH IRA. Why? Because when you die with a whole life policy, the insurance company pays out the death benefit and KEEPS your cash value.
@astroman30 Soooo Should i call back and tell them what you just told me or..?
@ISayThingsToPissYouOffToShowHowLameYouAre.🤣 Sure. You can also google it and read it to them. This is public knowledge. No surprises.
@astroman30 just letting you know what the dude said. Why would he tell me what he told me.
I don’t think I agree fully. Whole term life insurance gives you wealth while your alive. You can have more then one policy from different companies, plus there’s a guaranteed death benefit. I plan to use the money I take out for other investments like real estate, or stocks. Buying a house or car. For me investing into my whole term surplus which compounds itself over time after 7 years is a better investment because I can’t touch it until after that time.
BORROWING against your own money, and you think this is a good idea?
@astroman30 your not barrowing AGAINST your own money it’s up to you wether you put it back, the money continuously earns and compounds over time the longer you leave it the better the more you put in the better , REGARDLESS as long as your premium is paid on time every month the DEATH benefit is always the same. But your surplus has no cap. At least I have mine with no cap. So for example in 8 years I’ll have $20k in the surplus, say I wanna take out $10k I can. I don’t have to put it back becuase a portion of my payment goes towards the surplus continuously so why would I ever use a bank and let someone else control my money. Look into it yourself I been doing it for years. All the richest folk use life insurance to stay rich that’s facts.
@astroman30 your not BARROWING anything it’s YOUR money. Just to clarify. Your never barrowing it. The surplus continuously earns money always and forveer
Thank i needed this
: )
Ask the person who is selling you insurance this question:
Do you make more commission selling whole life insurance or do you make more money selling term insurance?
I feel like your my mentor thank you sire
Great vids! Is an IUL index universal life a good investment?
IULs are garbage with their high fees/commissions and capped gains.
Your funny and you explain things very well. Thank you
So whole life insurance with cash value options allow you to withdraw your cash value at any time with no penalties. Can’t do that from a 401k or IRA. Also this money is 100% tax free because it is post tax money. The other advantage with it is you don’t have to pay the money back and you still make the guarantees on the money you took out – can’t do that with 401k either. Also after a set period of time you don’t pay any payments anymore. Mine are setup for 10 years of max payments and then 10 years of just premiums and then no money is paid ever again. I did this with my newborn grand daughter. It is a great way to pass on wealth without taxes. Also doesn’t count against her for grants if she decides to go to college in 17 years. 529 plans are taxable if not used for school. UGMA / UTMA accounts are taxed and have zero control of them once the kid turns 18 or 21 (state depending) therefore if the kid is rebelling at 18 they could cash out the money and blow it. With life insurance you can keep the policy owner in your name until the kid is responsible. Maxing out 401k (can’t do ROTH) Pretax bucket / this ^^^^ is how I am investing in my post tax bucket. Then with social security and other side income that i am building I have a three legged stool to help make sure I minimize my taxes in retirement. It is a great strategy but not all Whole Life policies work the same and that is the big kicker.