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.
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IPB 117: Why Are Life Insurance Companies Afraid to Communicate?
IPB 116: Life Insurance Policy Loan Pitfalls