Someone needs to explain to you about estate planning and business succession among other topics where a permanent life insurance product makes sense and term is a fools bet
Something I Agree w/ Dave Ramsey On
- Thread starter MVI
- Start date
Someone needs to explain to you about estate planning and business succession among other topics where a permanent life insurance product makes sense and term is a fools bet
- 4,618
Diversification. 80% of all new businesses fail. Look at all the successful businesses that fell prey to Covid shutdowns or change in how consumers shop. Had restaurant owners out some money into various savings or even life insurance max funding, maybe they can withstand downturns in cycles impacting their business. Look at realtors & mortgage brokers these last few months. Had they socked some of the massive revenues the last 5-20 years into bank money or even max funded life insurance, maybe there wouldn't be as many out of business for good. Will soon be impacting home builders.
Doesn't have to be life insurance, but someplace safe & secure where they can access the money without a credit check can be helpful when done properly.
- 10,361
Its comparable to a muni-bond. You get 3%-5% that grows tax deferred and can be accessed tax free. And its a safe option that guarantees no losses.
Most people do not just own the S&P 500. They also have conservative investment options that are guaranteed or very low risk. WL can be a good long term replacment for some of those funds.
It also guarantees to pay your loved ones apx 2x what you have in Cash Value.
Tax free conservative growth. Value doubles if you die.... tax free to your loved ones.
Oh, and you can take Loans out of it and the loaned funds still earn dividends, which can create a positive arbitrage within the policy. Many people use it to create a positive arbitrage outside of the policy.
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Then there are the many uses for it within planning for your estate. Or to pass your business on to the next generation.
People take $100k in CD money that is earmarked for "emergency funds/inheritence". Put it in WL. Now it leaves loved ones $200k and they have tax-free access to the $100k while it grows tax deferred.
etc. etc. etc.
Most people do not just own the S&P 500. They also have conservative investment options that are guaranteed or very low risk. WL can be a good long term replacment for some of those funds.
It also guarantees to pay your loved ones apx 2x what you have in Cash Value.
Tax free conservative growth. Value doubles if you die.... tax free to your loved ones.
Oh, and you can take Loans out of it and the loaned funds still earn dividends, which can create a positive arbitrage within the policy. Many people use it to create a positive arbitrage outside of the policy.
---
Then there are the many uses for it within planning for your estate. Or to pass your business on to the next generation.
People take $100k in CD money that is earmarked for "emergency funds/inheritence". Put it in WL. Now it leaves loved ones $200k and they have tax-free access to the $100k while it grows tax deferred.
etc. etc. etc.
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