@@sanchoelmatadorliving benefit is a thing. For example, you get unexpectedly get breast cancer, you can pull you like insurance out early for you. The money is there for you awhile you are alive. If you have enough cash value, it can pay for the policy itself.
That’s who I think life insurance is really for (me included somewhat). If ur already wealthy, u don’t Need insurance. And I don’t know Who’s paying That much for they’re whole life insurance. If that was the case, I’d just put that amount into an account for specifically that purpose, and move on.
i feel sad reading ur comment. (what u said is same for me too but i don't feel anything for me knowing that but reading ur comment made me emo lol. hope u have a good life ...or more happy n peaceful moments
Actually life insurance is a scam, the value of your money will be depleted by the agent commission every month, so overall you pay a dollar for a cent, theres no value, its just a cliche that pyour love ones will get but in reality your love ones will get more if its invested to a time deposit
I think you study the Infinite banking concept by Nelson Nash or Bank on yourself by Pamela Yelson b4 making a statement like that on social media on topic you obviously know nothing about !... for starters Whole life insurance is NOT an investment !☹
LIFE INSURANCE IS NOT AN INVESTMENT. IT IS A SAVINGS ALTERNATIVE. Any agent who tells you it’s an investment that gives great returns in just trying to close a sale with you - RUN! An agent who is up front with you about the pros & cons and that the MAIN point of Whole Life is the DEATH BENEFIT & the savings & cash accumulation & dividends is the CHERRY ON TOP has your best interests! It’s a great product but it NEEDS to be designed properly for the individual’s personal needs. It is not the S&P 500!!!!
Girl please stop misleading people this is 1000% all wrong. Unless you are a licensed life insurance agent I wouldn’t suggest you speak on things you have zero clue about.
You have no idea what you are talking about. What about taxes and volatility-two big factors you are completely leaving out. And I’d watch your labeling insurance agents “scammers”.
If they are selling any form of cash value life insurance then they are scammers. Unfortunately it’s legal though because you didn’t read the contract during the free look period and cancel. The cash valve contract should be outlawed. The SEC went after VUL back in the day because by definition it was a security. IUL skates by being regulated by the SEC because it’s indexed
I respectfully 1000% disagree with you by far. You have no idea what you’re talking about. I’ve been in the insurance business for 29 years. Trust me when I tell you that you are severely uneducated about life insurance.
Just another finance “guru” that spent 1 hour doing research on something they have no understanding of. This is the reason people hate “influencers” and why you cant blindly trust the people you take advice from. Would’ve been much better off presenting hard facts instead of opinions.
Past performance does not predict future performance. You are assuming the stock market will continue to go up in the long term. This does not have to be true.
If you don’t know throughly about whole life insurance. I think term insurance is the way to go. Life insurance is just the protection for early death to insure your love one and all the other expenses from you. If the money can cover until they can make their moneys, it’s good enough. They need to have their own way to fight their life. The main point is teach them financial literacy as soon as possible. It’s good to learn from these smart people or experienced people. It is never too late to learn. Keep up girl!🎉
Whole life insurance It’s a money management strategy not an investment! It has helped me take advantage of investments opportunities by me lending myself my own money while it still gaining compound interest. It’s useful to anyone with discipline to grow cash on the side accessible via loans that not increase your taxable income! It’s not an investment, but it’s a great money management tool!
Exactly! We understand it’s not the best “investment” AT FIRST if you’re only considering the death benefit. In years 2 to 3 though, the death benefit highly outperforms that of term life insurance for the rest of the policy life. But if you are looking to utilize this vehicle for other uses such as saving for investments, you can borrow against your money over and over without actually breaking the 4-5% compound interest growth that it receives overtime, so, it is very worth it. Yes, you have to be very disciplined, you have to be a good banker and pay yourself back. In that way, it is an advanced technique, not to be used by people who have not created the habit of saving or who don’t intend to use it this way.
Plus, it does not just depend on the stock market! I guess it depends on who your audience is, but I think it’s very silly to recommend that people put their money in the stock market where they have no control over the fluctuation instead of a policy like this, but of course, as I said, it is a very advanced investment strategy not to be used by people who do not Intend to save money in order to build wealth with it.
@@davidgamez5476 VUL is not commonly sold today. Most agents in the industry only have a life license. But even though it is classified as a security the ART inside the policy eventually consumes all of the cash value and it becomes unsustainable for the client to keep paying the premiums after the cash value is gone. Consumers need to do their research on how money works and avoid cash value life insurance at all costs.
Great point! The next point that is missing is that term is meant to cover you while you grow your own assets. A lot of people miss that part. If you have term insurance for 30 to 40 years, you should be growing your assets during that time. Once you’ve reached the point where the term ends, the point is that you can self insure for your burial or your family’s needs. Also, keep in mind you can have multiple term policies to start and stop at different times. It doesn’t make sense to pay for an expensive whole life policy with a much smaller payout just to bury yourself and ignore a term policy that will have much greater financial protection for those left behind. It’s missing the forest for the trees.
well UL can be much cheaper than whole life due to it's flexibility that can be modified for everyone's needs. Just imagine having a "term insurance + invest the difference" plan and the client have their investment got a big gain through time, for sure they gonna pay taxes with it. Also you are not so sure if their investment performs better than the UL or Whole Life cause UL or Whole Life does(except if they have the skills to manage it, kudos to that)
@@joshuae.6447 sure, a person that invests typically has to pay taxes on their investment gains. Taxes are also paid on whole life and UL policies, it’s just done upfront (ordinary income for regular people). Between the high cost and low returns of these insurance policies that give a very small investment return, everyday people would be better off just putting their money in the S&P 500 or total market index. A good financial advisor acting as a fiduciary will tell you that the majority of people in the US don’t make enough money or have enough assets for whole life policies to actually be beneficial.
@@joshuae.6447y’all are climbing the ladder high! The life we live is the life we live, there is no payout at the end! Get OLD! , fast, now. There is no better INVESTMENT, than the one you make in terms of your own health and well beings, insofar as that it coincides with other what is ALSO healthy and wealthy for the WORLD. We are not going to care about the money or the luxury and we will definitely not have ANY ACCESS TO IMMORTALITY IF YOU TAKE THAT ROAD! the system will collapse first. Follow instead the path of Buddha, and find your place in the reincarnation machine. It’s really silly I have to post all this up here right now, but it seems y’all have forgotten how this junk actually works?
My wife thinks I'm worth more dead than alive now that she has a policy, life insurance, against me. Like some of her friends that have dead husbands and money and a life of fornication.
You're clearly not informed on how life insurance works. You don't need to spend $7k a year and nobody does lol. Most people pay $100 per month for their permanent life policy. And it's not an "investment" because there's no risk of loss. Its only being sold as an alternative to savings or bonds. It doesn't replace the market and only supplements what you're putting into bonds. You just showed your hand that you're not educated on insurance and just did your research from googling for a few hours.
Listen, if you have $ besides your savings account to bury or cremate your loved one when they die, can take time off work to grieve and so much money that you don’t have to have ppl help you or do a go fund me when your terminally, critically or chronically ill. OR you can leave some behind for your kids or grandkids (that’s not taxed as income), then you don’t need life insurance and kudos to you. Know the facts first!!! Pleeease. You’re doing people a disservice.
There is ALOT more insurance than this. IUL variable etc. there are multiple forms of permanent insurance…. Just because you worked on Wall Street doesn’t mean you know shit about insurance… you’re not even licensed…
I’m glad someone said it bc I was about to go in!! She also forgets about the fact that if you put it in a regular brokerage account you’re gonna have to pay taxes on the income that you make and if you put it in an IRA you can’t touch it till you’re 59 1/2. Insurance has its appropriate uses for different things. She clearly doesn’t know what the hell she’s talking about. And I have worked in the securities industry and sold insurance.
I was about to buy her book but when I saw her complete lack of understanding re whole life, I am going to find another rich bff for advice. We’ve got 3 wl policies that we borrow against regularly for other investments. You don’t have to pay back the loan as the insurance will pay it off when you die but not a good idea as the policy won’t pay out as much to your beneficiaries. Talk to a good agent. Mine is awesome at State Farm
They tend to forget to mention that they get a nice commission on selling whole life insurance to a person. Interesting fact to leave out or not to mention in my opinion
You may have to speak to a more knowledgeable advisor. They should be able to answer all of your questions. Not saying an IUL or whole life will work for you in particular but it can make sense in some cases.
An IUL is an awesome product. It only goes up with the market. Your covered with your death benefit from day one and as your investment grows you can use that money for whatever you want and not pay interest to a bank. You can choose to pay it back to your cash value or not. If IULs were bad then why do so many wealthy people have them? You need someone that knows how to write them
This is just not true. You can’t underestimate the tax advantages, long term care and critical illness cares attached to these products. Also Index Universal Life insurance can be very lucrative investments without loosing money and they have great living benefits for you and death benefits for your loved ones. I sell Index Life Insurance and it’s the only life insurance product I own myself along with my whole family. Please learn before you try to teach. I still like your contents
@@ezzy3109 great product and great company. I sell transamerica and nationwide insurance and financial products as well. I and my family own IUL plans from transamerica as well.
I love your content usually but as a living benefits educator, you're misrepresenting affordable IUL options. Allow me to show you an illustration. Middle America deserves this option and it's available for them too
Calling it an "investment" is not legal for starters. Investments are taxed, life insurance is not. Its also NOT only for the wealthy, if your family needs to gofundme to bury a loved one, they NEED life insurance
I hate these videos about life insurance, I don't even need to watch it to know what she's going to propose. The answer for me is you have to calculate what is to be spent on the policy versus face amount. If you spend 25k for 25k then no the policy would be rendered moot. With that being said the various investing, saving strategies people normally try to use fail at 2 major points. 1 most people never end up saving the actual amount they need for their funeral services and 2 in most countries if you do no appoint someone to control your assets when you pass or have contingency personnel, your money will be taxed hence your family or loved ones losing portions of your money until its cleared by either a bank or local government benching. Also your lying about the two major holes between both. Term life will end and once you get too old and your health degrades you can't renew your coverage where as whole life is a guaranteed payout once the policy is issued. Also once you pull your money from your investment from the intended persons passing you neglected to tell the public about the taxes that are taken out the overall payout etc. Btw I sold insurance, and investment programs for 6 years across 3 states to every income level. Stop lying
Oh yikes, you are equating Whole Life with IUL??? Very different products. Also, infinite banking is a STRATEGY, not a PRODUCT. Scary how misleading this is. 😅
Wrong!! Life Insurance is great for all people who can afford it, Life Insurance gives you an immediate estate to transfer wealth to the next generation, terrible advice you know nothing about this, don’t speak on things you don’t know. Life Insurance can also be used to get approved for a mortgage if you put it up as collateral. It’s beneficial for all incomes except for people who are too poor to afford it. Stock market is pure risk, Life Insurance is guaranteed
I don’t know me and my other two sibling bought a life insurance for my dad so we split three ways. We thought our dad will live up to 80-90. But he died suddenly on October only 68 years old. We bought it like ten years ago, so I contributed like $25k and got paid out whole chunk. It’s bad to say that my dad is a good investment. And currently thinking buying more insurance on myself my kids and my mom. Every family situation is different so try to find a good wealth management for your family. Happy new years guys. May the best luck for all of 2024 .
@@astroman30Term isn't for everyone. Term is truly a quick fix type of policy. No one really plans to die in 20, 30 or 50 years. Term policies are a good fit for some but a bad fit for most. That's my learned opinion as an experienced Insurance agent 😊
@@shelbybrown2732 And your "learned opinion" is wrong. You're coming from a sales background that pushes trash value insurance for bigger profits/commissions. Insurance is a RISK MANAGEMENT purchase, only. Buying term and investing the difference will not only save you money, but will make you "self insured" as you get older. Numbers don't lie: In a $500G DB example, the premium is $430 a month from age 40. Nick lives to age of 90. So with whole life insurance, Nick pays $430 a month for 600 months (50 years) total $258G. Dividend is $130 a year best case for 50 years on the premium paid, or $6500, for a cash value of $264,500. The alternative is to buy term life insurance with extended duration and invest the rest .. a $500G death benefit policy for a 30 year term would be about $60 a month leaving $370 available to save .. $370 monthly in the market at 7% (stock market lifetime average) in a tax deferred account gives me $432G after 30 years. I won’t need a $500G policy if I’ve got $432G cash in my account, so I cancel it, And for the next 20 years my account keeps growing at the full $430 a month. when I’m 90 the account is worth $1.9 million. Conclusion is clear .:. Do I want $264.5G (whole) or do I want $1.9 M (term and invest) for the same premium output .. I choose term and invest!
" It's bad to say my dad is a good investment." It's the reason I now hate my wife. She took out a policy of life insurance. I'm now worth more dead than alive. Well, I'm going to make the rest of my time with her hell.
She is beyond INGNORANT on how cash value life insurance works. Math is hard for her and this concept, and IUL she has ZERO business talking about. IUL is very low cost in the long run with many other benefits. Clueless
Wrong and misinformed you have to properly structure the accounts with minimum “fees” basically lower death benefit HIGHER cash value. They are for everyone not just the wealthy
Hi BFF. 🙋♀️ I need to find a way to make $6,000.00 to pay off life Insurance loan. I am a senior. Is there a job, or something I could do to get this money please ?
I think your partially wrong if you have children it's actually good to get them whole life for 1 it will be much cheaper like i pay 80 a month and by time hes 10 it will be paying it self . and can build up also can use the equity to purchase wealth building assets.
Whole life is ALWAYS a problem. Mathematically it is ALWAYS better to buy a much cheaper term policy and invest the difference in an investment SEPARATE from a policy! The interest rate is VERY low (2-4%), you have to pay interest to the company (6-8%) to borrow your OWN money, the premiums are WAY more expensive than term AND if you die prematurely your survivors have to choose between the face amount and the cash account. Life insurance is intended to replace income in the event of a premature death. Children only need enough to cover final expenses if something were to happen. Term with a child rider is the BEST way to go!
Exactly. It’s not even about the monthly premium but just the fact that you are using the insurance company’s investment. They will charge you investment fees as well. The math is complex behind the scenes and when you co-mingle the death payout and investment it clouds your ability to determine whether it’s worth it
@@amaznngrace Because insurance is intended to protect income while you are young and building a nest egg. It should expire at the time of retirement. At which point one should have money in an investment vehicle like a Roth IRA and a retirement account at work (if accessible). You will ALWAYS have more in the investment account than a low interest whole life policy because of higher interest rates on the market (rule of 72). Also, the first 2-4 years none of your money even goes into the cash account with whole life. Go check your policy. It’s all there. The average consumer just doesn’t know how to read these policies or what to even look for. I’m a financial coach. I educate my clients about all this. I replace whole life then open an investment account. Mathematically one will end up with significantly way more money. If you are 65, kids are grown, house paid off and have a million dollars saved why would you need life insurance? You’ve become self insured at that point. There is NO, I repeat NO financial freedom in whole life. The company profits big time and the consumer loses thousands even millions in compound interest if they had of invested in the market.
You have no idea what your talking about. An IUL will have less fees over time than let’s say a 401k. Now yes Whole Life for example does not yield high returns but IUL is not for just high net worth individuals only.
Insurance (management of risk) and investments (a return on capital committed) should never be mixed. It is also an overly broad metric of 'people who already have alot of money' may purchase WLI, IUL etc.
The info she says is very untrue in this video. Insurance isn’t an investment, that’s just a huge read flag right there. Insurance is protection for YOUR investments. and this crap about only useful for rich folks is hilarious. Insurance is used to protect your income regardless of the size of your bank account. A properly funded policy can suit just about anyone, but notice how I said PROPERLY funded. a poorly written policy is going to produce poor results, that’s why you need an actual financial services professionals help not this rich bff bs lmao
It depends how to structure IUL. Like 401K has fee and tax later but IUL front fee but 10 years later tax free gain. You will be surprise 😅Power of Zero.
you got it backwards....when you don't have money, it is the more reason to have the life insurance. Think of it like this, many of us insured our car while the odds for accident to happen is still 50/50, but many of us and including you, are not even thinking about life insurance while the odds for us to die one day is 100%? Are you worth less than your car? Before doing anything or invest in anything, you have to protect the biggest asset in your family....YOU!!
You lost any credibility you thought you had when you said IUL is whole life. Then looked more foolish when you compared whole life, a fixed product with guarantees, to investing in the stock market. 🤦♂️
Wow. Lmfao. everyone do your own research. She cannot be more wrong. 2 seconds into the video and I can confirm she is giving incorrect advice. Quick talking and video editing gives the impression that she knows what she’s talk in about . I’m Not saying investing in the stock market isn’t a good option, but she’s dead wrong about life insurance and what it truly does. I’m not just talking crap, seriously go educate yourself before misleading ppl about stuff you don’t know about 🤡
I somewhat disagree with this outlook. I have an 3 IUL Policies and their monthly premiums vary between $40-60/month. So this notion of every policy having high upfront cost is a lie. What I do agree and would recommend is everyone should do their research and travel consultations with accredited businesses and financial advisors to receive a better understanding toward these things s
True, but saving money, idea is becoming your own banker. Insted of using a bank. Use this as a vessel therefore paying yourself back. And into. Plus can borrow against therefore paying yourself interest ontop of your own money. And probably can use as tax advantages as added growth. And cam use as a retirement gift... Your other friend
I wonder if I can but long term life insurance. I am 55 years old female. But I have a chronic disease. Low life expectancy. I still work and do run all my errands, etc. I think I would be rejected if I try to get life insurance. I am afraid of scammers. Would like to try good reliable company.
You forgot to mention that with term life, every year that you go to renew it the price goes up because your age is higher and if your health has changed at all they could straight up deny you. So you could pay all that money into a term policy for 20 yrs and be left with nothing. Say you decide to keep renewing your term even though it is extremely expensive, once you reach certain age you are no longer eligible. Whole life is more expensive for sure however, the price never increases and your coverage never expires. It is best to get whole life while you are young and healthy so you can keep a low rate for life.
Irene you forgot to mention that with a Whole Life policy the insurance company keeps all your savings when you die and you also forgot to mention that the cost of insurance inside a whole life policy is also based on a term policy. A pure term policy is mathematical superior over Whole Life and even after looking at total cost on renewing a term policy up to age 95 it still beats whole life with less money out of pocket to be covered for the same period of time. And then consumers also need to understand that their need for life insurance should be temporary and NOT forever!
@@jenninemorel7693 Whole Life is just term inside with some added features that benefit the life insurance company. So why buy 2 terms instead of just a single level term policy. The math proves that whole life is a rip off. Consumers need to do their own research before buying. Level term beats the Annual Renewable Term thats inside the WL policy! Just do the math on the increasing cost of insurance. Agents who sell cash value can say what they want but I teach my clients the simple math. Last time I checked Mathematics has not changed for a very long time.
@@habeebahs.2956 The industry does not want to sell term so they don’t offer attractive renewal options at EOT. The industry wants their clients to switch to cash value at EOT for the profit. There is however a company offering a renewable term up to the age of 95 without having to re-qualify medically. This innovation can not be beat mathematically when comparing the total cost of having equal face amount on a whole life or IUL policy. And let’s not forget that it’s all TERM! Whole Life has TERM inside! IUL has TERM inside! It’s funny how people try to put down term when it’s all term when you look under the hood!
I have a $50,000 whole life insurance policy that i only put 2k in back in mid 2023, can i borrow from it or do i have to have a certain amount funds invested to borrow from it?
My policy premium had never increased, and the interest you pay will be paid to yourself , since you are taking a loan from your own account, just like taking a 401k loan, you will pay no tax from your life insurance but will definitely pay tax on your stock earnings or 401k
@@alamgudiel7663 - I’ve been paying $30 a month for almost 40 years. My parents got me to get that policy when I got my 1st job when I was around 20 or 21.
Indexes universal and variable indexed universal life policies have waaay more benefits than she is speaking of. She isnt giving the whole story. Best to do your research with an insurance professional because iul's and viul's can be atructured for any budget as well as provide a line of capital for tax free investment income... just do your research... former life health and disability licensed individual speaking here...
You do know life insurance isn’t only for adults right? The prices u showed was only for an adult whos probably over the age of 40. The price is only high when you start out late but if you were to set your children up with this product it will be substantially cheaper. And boom you’re building generational wealth. 😅
It’s unfortunate that you only provide one side of the equation. Whole life insurance is old news and many other permanent policies are available. Lastly, what about the tax burden on the “other” better way to get a higher return! In the long run an IUL is much more cost effective than a taxable investment! 👍
@@astroman30 I agree with you 100%, there are also other issues with it like how the cost of insurance is calculated compared to other policies and your money gets trapped by surrender charges. So it’s both a bad life insurance and a bad savings vehicle
In NY, my team writes up policies with payment of first premium which, for a single person, is usually under $100 but this all depends on age and medical
Now that my wife has a life insurance policy, I'm beginning to hate her. I'm worth more dead than alive. Then she can get whatever new boyfriend she wants.
Sooo she’s wrong. There’s more than 2 types of life insurance and this is used for the death benefit to not screw your family over financially, you know… for when you pass away. Be responsible not selfish.
You shouldn’t really be talking about something you don’t know 😢 asking a person with paycheck to paycheck in stocks is the worst advice to give. Whole life and term are NOT the two kinds of insurance
I think you have to understand the purpose of a whole life insurance policy, it’s a permanent product that accumulates money that you can borrow against if needed, and of course pays your beneficiary upon death whereas term expires and you will have to renew/qualify at your new age and health status. The problem with this video is that it can be taken out of context and come across as a deterrent to whole life insurance when it’s really ideal if obtained early in life or purchase on your children while they’re young and it’s still reasonably priced with a good amount of coverage. To truly educate on life insurance, it would take more than a 30 second snippet because really it should consider the specific persons need.
So is investing 9k a year in property that makes money for my family right now. Its a circular definition. But yes, depends if people intend to invest the money, although life insurance could be seen as a type of investment but far more circumstantial.
Well,I have state farm whole life insurance, pay over $100 a month for 5 years ,I called today and was told I have $259.90 I can use to take out.LMAO I'm canceling today and will invest that money on something with a real return.
Yes, if your term policy is up you will need to renew at whatever age, however, the theory of decreasing responsibility states that as you are younger you need more coverage because your debt is high and your children are young. As you get older, your debts are paid off and your children are now older so you won't need as much coverage. And with all the money people have to pay with those high premiums with whole life they can be saving/investing the difference by purchasing a term policy for way more coverage and way less cost.
@@westwood3286Try looking into an Early Cash Value policy. Guardian Life Insurance or Mass Mutual are 2 companies that offer these. I thought Term insurance was the way to go until stumbling across the IBC (Insurance Business Concepts) channel. Not trying to tell you what to do but this is another tool for educating yourself.
@@westwood3286 you have a really bad policy if that’s the case. Give me a shout and I can show you an illustration of what a good policy could do for you and show you future gains
I Would Love To Have a Sit-Down 🪑💺🪑 WITH You as My Rick-BFF 😢 Is Very VERY Important Knowledge Helpful & a Great Financial Literacy Setting 🙏✨‼️ Can I PLEASE Speak With YOU Vivian 🙏⁉️❓❔
Whole life is not same as IUL. Please get your facts straight. It’s posts like yours that deter middle class families from gaining the upper hand at saving money. Reach out to me and I can educate you on this.
Yikes bad advice there are so many components to whole life that can literally help in times of need like income protection if you have an injury from an accident and can’t work , accidental death and dismemberment, mortgage protection, children policies and so much more. Also not to mention living benefits if you plan to retire early and so much more. If done right life insurance can help a great deal so it’s always best to get while young because it becomes more expensive as you grow older and if you have ailments depending on the ailment you may not be eligible at all . Life insurance is far more important than car insurance however, car insurance is mandated but life isn’t for a reason. Play it smart and protect your livelihood we all get sick and we all may not have benefits at work that will cover us once sick. COVID was a prime example and many went and got life insurance to ensure they were protected in the event this happens again. Lower income folks need it more than the wealthy.
She ignored the fact if you don't have insurance and you die, your family will have nothing. No duh money will grow more in the market but if you die unexpectedly that money will not be enough yet for your family. She must not have kids
Well. The investment portion of the whole life policy was not explained, as cash value builds over time, you can take use that $ as an interest free loan. Pay it back or not. PUA riders allow you to increase death benefit and cash value. The IRS never gets involved either. So, learn all you can.
You shouldn’t really be talking about something you don’t know 😢 asking a person with paycheck to paycheck in stocks is the worst advice to give. Whole life and term are NOT the two kinds of insurance Scammers? The only scammers I see here is some one who uses social media to pretend they are your your rich bff
I hope youll give all the different types of life insurance and all of the benefits for each one. Not just singling out term vs whole life. This short video is misleading to many. I admire all your other contents but if you have not fully dissected in details all of tue different kinds of life insurance, you are doing a disservice to many of your followers. Just have an open mind and be willing to the nitty gritty of each with someone knowledgeable in all areas of life insurance, somebody who is not tied up yo just one company. I
How r scammers selling these, they are a good investment in most cases. For instance, a 50 year old has 100k left on his mortgage, by having a decreasing term policy he can ensure the house is always covered for his or her family. Whole life is good for covering burial expenses when someone only receives social security or disability on a fixed income. Everyone should take care of their final expenses if they have the means to do so, leaving your family on the hook and making them come out of pocket is not right
Turn life is ringing life insurance whole life is buying life insurance whole life will last the rest of your life term right life will end at the end if you need to renew it because you have bills to pay or you wouldn't provide something at in a life at the end of your life for your femily you have to Have a You have to be insurable so if you have a term life policy that ends when you're 50 you better have hope you have good health because you can't get another one unless you have good health. The best way is when you buy health insurance get a lot of term.And a smaller whole life policy that will end when die. That what I did for myself and what I recommend for my friends and family.
Good content but not totally true. Term coverage is cheap and you can get a lot of, but it’s rarely paid out. If you need insurance because you have a family and assets then get whole life at a young age and let it grow for decades where you can take it out tax-free for any purpose, and still have a death benefit for your beneficiaries.
U can get a iul for wayyyy cheaper. like 50$ a month cheap. whatever you put into these accounts your eventually able to take out while your still alive tax free to.
