What is Bank On Yourself®?

What is Bank On Yourself?

Bank on Yourself®  is the creation of Pam Yellen and is a process of using whole life insurance as a means to finance major purchases.  The claims made by Bank on Yourself® suggest that following the program will unlock hidden wealth secrets employed by savvy investors and business people. But does it work? We get …

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Is Life Insurance Worth Getting?

Is Life Insurance Worth Getting?

Life insurance is worth getting if you have a family to protect or if you have some financial obligation you need to cover if you die.  For a large number of people, protecting family members from financial hardship is easily done with term life insurance.  Term policies are the cheapest type of life insurance available …

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Memory Test for Life Insurance

Did you know that if you are over 70, and need life insurance, you may be asked to perform a memory test?  Or if you prefer to use fancy life insurance company wording, a cognitive impairment test.

This sort of testing has not been around that long, in fact, it's a relatively new kink in the life insurance underwriting rope.  Keep reading and we're going to share a real-life example with you that will elicit a raised eyebrow at the very least.

Just recently, I had a new client I was working with that needed a permanent life insurance solution for reasons that are laid out in the proceeding paragraphs.

For sake of protecting the privacy of the innocent, let’s call him–Mr. Smith.

Mr. Smith is in his early 70's, 73 to be exact. He has a pension from working in a federal government position and had chosen (years before I ever met him) at his retirement to receive a “life only” pension payout settlement option.

Choosing the single-life option is very common among civil service employees, retired teachers, and union employees to name a few.

Why?

Pretty simple actually.

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Can I Borrow Against my Life Insurance?

Can I Borrow Against my Life Insurance?

If you are looking to borrow against your life insurance you have to ensure that you have the correct type of policy and that your policy has cash surrender value.  Once you determine that you have a type of life insurance that permits borrowing and that you have cash value against which you can borrow, …

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Selling Life Insurance from Home

Back in 2011, when the world was very different than today, selling life insurance from home seemed like a crazy idea. How do we know? Because everyone that we spoke with about what we were doing and our idea to work with clients across the country told us it would not work. Those people would …

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Which Type Of Life Insurance Policy Generates Immediate Cash Value?

If you are searching for the right life insurance policy to generated cash value quickly or even immediately, you will have a couple of different options. But you should be aware that more important than the type of policy—whole life insurance or universal life insurance are going to be the two types—you need to know that policy design and funding will have the greatest impact.

You can purchase the right type of policy and not achieve the desired outcome of growing cash value immediately. The details very much matter when setting up your life insurance policy for the purpose of rapidly building cash value.

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Should I Work With an Independent Life Insurance Agent Near Me?

In spite of all the chaos that 2020 has brought to the table and the ensuing shift to most people doing business in a virtual world, there are still many people searching and wondering if they should work with an independent life insurance agent that lives close by. There are some people that really like to have a face-to-face, in-person experience with their life insurance agent. We get that and we always enjoy meeting our clients in person when possible.

But since 2011, we've used the internet to reach people in a way not possible a few decades ago.  We started doing this for two reasons:

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Everything you Ever wanted to Know about Life Insurance Underwriting

Life Insurance Underwriting

The life insurance underwriting process can appear intimidating.  There's a lengthy application where you'll disclose a lot of deeply personal information, and then you have to wait to find out if the insurance company even wants to do business with you.

Much like applying for a mortgage, the process can be a little nerve-wracking.  But probably the most intimidating part of the entire process is simply not knowing what to expect.  That's exactly why we put together this guide to help you understand the process.  With this, you can face the life insurance underwriting process head on and limit surprises in the process.

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