There are lots of different types of life insurance policies out there. Some are good, some are bad. Life insurance is sold by honest and dishonest people. If you want a policy that helps you keep more of the money you make, grow your wealth and give you financial peace of mind, make sure you get a good policy and buy it from someone who has good character.
Credit unions will mail out life insurance offers sometimes. Are they a good deal? Should you buy life insurance through a credit union offer?
That’s what we are talking about today.
Credit union life insurance is better than nothing, but there are better deals.
Listen and learn about the different types of life insurance available for you today.
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If you wonder how much life insurance you need? Or how much life insurance you need for infinite banking? This is your podcast.
The most honest answer to the question of, “How much life insurance do I need?” is, “Nobody knows”. And the shortest answer to the question of “how much life insurance should I have” is probably, "MORE!" ... let us explain
A lot of people settle for the life insurance they’re offered through work or from a friend, some people don’t have any life insurance at all, but people who understand how life insurance works want it and they want specific policies and certain amounts.
We are going to talk about how to get the life insurance you want, how to use the cash value while you’re alive and how to provide financial peace of mind for your family when you die.
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Listen to the Wealth Talks Podcast on:
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
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This podcast will be helpful to those who want to keep more of the money they make, grow their wealth and have financial peace of mind.
On a side note... We have Jasper here in the studio with us this morning. He’s 9 weeks old German Shepherd Puppy. Jasper is our up and coming guard dog. We have a guard dog up at our house already, her name is Lulu, she’s a german shepherd also and does a great job, She patrols around our house, but Jasper’s duties will be to guard the barn area.
German Shepherds and Life Insurance go hand in hand in our family. Listen to hear the story on todays episode of Wealth Talks Podcast.
Follow the Wealth Talks Podcast On:
Facebook: https://www.facebook.com/profile.php?id=61554798231074
Listen to the Wealth Talks Podcast on:
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8
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Watch on YouTube: https://www.youtube.com/@wealth-talks-podcast
With all the investment, hedging and saving options we have in today’s world, is there any need for whole life insurance? Whole life insurance has been around for a long time and some may argue it is outdated. In today’s episode, find 10 things you could do with your money instead of buying whole life insurance.
Resource Links:
Winning Your Financial GAME
A Biblical Guide to Personal Finance
“You can beat him, you can cheat him, you can treat him bad and leave him...” Queen explained in their hit song Another One Bites the Dust. A lot of dust gets thrown around in the insurance ring, sometimes by ignorant agents, but often by greedy agents looking only to earn a commission. While the dust makes things difficult, you don’t have to bite it. PLEASE! Don’t bite the dust! Listen now on Wealth Talks.
Would you use your cash value to become a pilot? Start a business? Buy a vacation home? What would you do if your home was flooded? Or if someone drove through your front window? Or if you lost your income and couldn’t make the car payment?
In this episode, find out how our clients use their cash value to take advantage of opportunities, or face financial difficulties.
Just because marketing doesn’t discuss the dangers of a product doesn’t mean there are none. The strong, tough Marlboro man advertisements certainly didn’t portray the sufferings many smokers experience in later years, but this does not mean smokers who exclusively smoke Marlboro products will escape these sufferings.
Some life insurance products have hidden dangers too. Hear more about the dangers of indexed universal life insurance today on Wealth Talks.
IUL has been the shiny yet dangerous toy in the insurance world for some time. Having enjoyed a period of wild popularity, IUL is starting to come under attack. Although many have spoken out against IUL including Forbes and the Center for Economic Justice, insurance companies are still pushing IUL hard. Why? Find out on the latest episode of Wealth Talks!
Should you buy Term Insurance? Whole life? Universal life? Which is the cheapest? What type is the best? Should you buy insurance as soon as possible? Or wait until you’re older? Should you own different types of life insurance at different points in your life? Find out on Wealth Talks!
Resource: Wealth Seminar Recording
Each year several banks go broke, but, comparatively, few life insurance companies become insolvent. Today on Wealth Talks, Tom and John look at the way life insurance companies are structured to provide such stability. But wait! What about AIG? In this episode you will discover what went wrong at AIG and what ultimately happened to the policy holders.
Resources: Wealth Seminar Recording
Many people buy fire insurance but never have a fire. Many people buy car insurance and never get in an accident. Many people have medical insurance they don’t use. But today, on Wealth Talks, John and Michele discuss one type of insurance everyone will use at some time. Listen on Wealth Talks.
The percentage of people who own life insurance has been dropping big time. Fewer and fewer people understand the importance of being insured. This is too bad, because, while life insurance does help maintain the quality of life for people you love when you pass, life insurance can also increase the quality of your life while you are living.
On today’s episode, Tom and John discuss why they think life insurance ownership is dropping, and how life insurance can help you save money.
Resources: How to Build Sustainable Wealth: https://www.life-benefits.com/store/
High cash value life insurance policies are often referred to as banks... but is this correct? Learn about what goes into the process of starting a bank and why this is important to you. Not only are there different practices on this topic, but there are
What does “paying up” a policy mean? Is it a good thing? What about using a term rider instead? What does FPUA mean?
Listen in as Tom and John answer these questions and discuss some things you’ll want to be aware of if you plan on “paying up” your policy.
If you’ve been “around” in the insurance world, you’ve probably heard about a term rider.
It is quite common to see an insurance policy with a term rider attached, but this doesn’t mean it’s a good idea. In fact, many times, putting a term rider on a policy makes no sense at all.
Today on Wealth Talks, Tom and John discuss term riders and why they don’t often like them.
Resources:
Policy Class: https://www.life-benefits.com/store-detail#policy-class
Prescription for Wealth: https://www.life-benefits.com/prescription-for-wealth-book/
Taking a loan from a policy is easy, but there are questions that can arise.
Will taking a loan decrease my death benefit? Why does the insurance company charge interest? When should I pay off my policy loan?
This week, Tom and John answer all these questions and many more. Listen Now on Wealth Talks.
Resources
How to Build Sustainable Wealth: https://www.life-benefits.com/store/
Many people want to know… should they pay extra interest to their policies? This is not a simple yes or no question. The answer will vary based on few different factors, including how the policy was designed.
On this episode Tom and John dig into policy design and whether or not paying extra in interest make sense.
Sustainable Wealth Seminar Sept 17-18th: https://www.life-benefits.com/sustainable-wealth-seminar/
Recently we’ve had a few Indexed Universal Life policy contracts come across our desk for review. As part of our review process, we calculated the cost of insurance in these policies and compared it to the cost of insurance in a Whole Life product of our design.
In today’s show, Tom and John look at how these costs match up. While Indexed Universal Life may be the trendiest type of insurance, it leaves a lot to be desired.
Resources:
Order How to Build Sustainable Wealth : https://www.life-benefits.com/store/
With possible changes to the tax code looming, it is likely life insurance will become an even more important planning tool for people who want to build and sustain generational wealth.
But there is a lot of negativity surrounding life insurance and those who sell it. Public opinion of life insurance salesmen is low, coming in just above that of used car salesmen.
But on today’s episode, Tom and John talk about celebrities who have much better opinions of life insurance. Some were even life insurance salesmen! Their names may surprise you!
There are two categories into which all Life Insurance products fall: Temporary and Permanent. In general, term products are classified as temporary insurance, while whole life and universal life products are classified as permanent.
It is important to understand how these different types of policies work when you wish to purchase the best type of Insurance.
Today on Wealth Talks, Tom and John break down how different policies perform so you can see what type of insurance is the best to own.
Listen Now.
Some people firmly believe in financing every expense in life with a policy loan. Others believe in financing only the larger expenses, and many don’t know what to believe. This is a controversial subject with an endless number of opinions.
While it is easy to be confused by the barrage of information available, following certain steps and keeping certain ideas in mind can simplify the decision process amazingly.
Today on WealthTalks, Tom and John discuss things you will want to be aware of when financing with a policy loan and some tips to deciding when a policy loan makes sense.
Listen Now
Morbid as it sounds, to get the greatest rate of return from a life insurance policy, you could pay the first premium and then die.
While we certainly don’t suggest this course of action, this method will undoubtably give you the greatest rate of return.
Put this way, the whole concept of “rate of return” seems a little silly. However, it’s easy to get caught up in the “what’s your rate of return” game.
Today on Wealth Talks, Tom and John talk about the benefits of Whole life Insurance, and why the “rate of return” is not top priority.
Recently a poplar investment and financial website ran an article about Life Insurance, but the article was inaccurate and not true.
We responded with a new article on the subject, bringing much needed clarity to how Cash Value Life Insurance works.
Today on Wealth Talks, John and Ben talk about the different types of Life Insurance available, and how you can use your cash value life insurance as a financial tool.
There are multiple types of life insurance, each kind created for a specific purpose. Some accumulate cash value, some are just pure death benefit, still others have an investment option.
Listen in and learn about the different types of life insurance, and why life insurance is called the 4th pillar of Americanism.
Resources: 5 Ways to Use Whole Life Insurance Cash Value: https://www.life-benefits.com/5-ways-obtain-whole-life-insurance-cash-value/
Only 59% of Americans own life insurance and 50% of these people are still under-insured. Why don’t people own more life insurance?
Perhaps it’s because they:
Or maybe they think:
There are many benefits to owning the right kind of life insurance policies in the 2020 economic environment and beyond. Today Tom and John discuss some of these benefits and reveal common mistakes around life insurance.
Resources:
How to Build Sustainable Wealth - Preorder (delivery in September): https://ao160.infusionsoft.app/app/orderForms/Fire-Your-Financial-Planner-Preorder