In today's episode we discuss the ins and outs of using a lump sum of money to fund your cash value life insurance policy (you can use universal life or whole life). With the paltry interest being paid by savings and money market accounts, life insurance can be a great place to warehouse cash that you don't need right away.
It's not the panacea but if you have time to wait, it is a viable way to do better with a portion of your net worth.
The most common problem we encounter is the strategy being implemented incorrectly. Yes, there is a right way and a wrong way to do this.
Brantley is a practicing life insurance agent and has been for nearly 18 years. After years of trying to sell like his sales managers wanted him to, he discovered that people want to buy life insurance if you actually explain the benefits.
IPB 106: Diversifiable Risk vs Market Risk: The Discussion You’re Not Having
IPB 105: Is Indexed Universal Life Insurance Worth it even if the Interest Rate Assumptions are Wrong?
IPB 104: You Can Just Buy Bonds: One of the Reasons Not to Buy Whole Life Insurance
How to Plan Retirement Income