How can Life insurance save me money?
See below for more helpful information.
Depending on how young or old you are, having an Index Universal Life insurance policy can be a great slice of your retirement pie. In addition to the reasons listed, many IUL’s have living benefits that can provide a source of income if you have a critical, chronic, or terminal illness.
Let’s take an in-depth look at the 10 most insidious myths and attempt to debunk them in a balanced, open and fair-minded way.
David McKnight is the author of the #1 Amazon Best-Selling book The Power of Zero: How to Get to the 0% Tax Bracket and Transform Your Retirement. His popular workshop “The Power of Zero” has been seen by thousands of Americans from coast to coast and was recently showcased on the main platform at Forum 400, an annual gathering of the top 1% of life insurance producers in the nation. He has trained thousands of advisors on his tax-free paradigm and currently serves as mentor to an exclusive group of financial advisors from across the country. He currently resides in Grafton, Wisconsin with his wife Felice and their six children. David can be reached at 262-478-9102 or firstname.lastname@example.org. His website is thepowerofzeropercent.com.
Now, before you toss this in the trash and tell me what all the “Radio Financial Experts” have to say, take four minutes and read this with an open mind. Cash value life insurance has been around for a couple hundred years and has allowed many successful people start or keep a business running by using some of the benefits listed.
Did that surprise you? Did you know about all the benefits of cash value life insurance?
Most people are surprised, however, once they see the benefits and how it can help them both now and in the future, they take advantage of a policy like this.
The problem with the ‘buy term and invest the rest’ concept is that most don’t do the investing. That is just one more thing to set up, keep track of, and make changes to each month. You may be the savviest investor and can pick the best stocks or mutual funds on any given day, but frankly, most people just don’t have the time or desire to go through all that hassle.
All term life insurance is not bad, as there is a right time and place for it, although your long-term financial goals are better met with a cash value policy.
If you would like to find out how a cash value life insurance policy may work for you, please contact me for a no-obligation review.
This concept has been around for 20 years or more, yet only a small percentage of people know about it and even less understand the full potential of it. Today, I am going to teach you this concept and if it makes sense, I can show how it could work for you.
This concept allows you to put in as much or as little to your retirement as you can, with money that has already been taxed. It grows tax deferred so you don’t pay taxes on the gains or growth, and it comes out tax free. This is similar to a Roth, yet it has more advantages and is generally safer than investing in the stock market.
How is it safer?
In the market, you can have gains and losses. Your money can earn 5, 10, even 20% one year and then lose that amount or more the next year (remember 2008?). With our concept, you can earn good money, up to 10% or more. However, you can not lose any if the market crashes because the least you can earn is 0%.
Another benefit is that you don’t have to wait until you are a certain age to start taking your money out. Most retirement plans will penalize you if you take your money out before you are 59 1/2 and also make you take money out at 70 1/2.
With our plan, you can use your money how and when you want to. What if you don’t use all of this money before you die, do you lose it? Absolutely not! It goes to your beneficiary and they don’t have to pay taxes on it either. Talk about growing the family tree!
O.K, O.K, this sounds too gook to be true, right? Well let me tell you that millions of dollars are going into this each year and in my opinion, this is one of the best places to put your hard earned money for your retirement.
So, what is it?
It is none other than a Index Universal Life insurance policy. That’s right, life insurance.
An IUL is a life insurance policy that takes some of your premium and invests it and allows your money to grow tax deferred. Then, when you start to take your money out, it comes out tax free. When you pass away, the insurance company pays the remaining death benefit to your beneficiary. Very simple and allows you to keep more of your money and give less of it to your Uncle Sam.
So the bullet points are:
Now for the disclaimers:
This is not a get rich quick scheme. It is a life insurance policy that is intended to be part of a long term retirement plan. If you take your money out too soon, there will be surrender charges which could result in you losing money. Also, if you try to take out too much money during retirement, the policy could run out of cash value and there could be taxes due on your withdrawals. The interest credited to your account is not guaranteed and you could earn more or less than illustrated. These are the rules according to the IRS concerning the taxation of life insurance proceeds as of the date of this writing. The IRS could change these rules which may change the way the proceeds are received and taxed. I am not a tax specialist of any kind and encourage you to speak with your tax advisor before purchasing this policy.
There are other benefits to these policies that I will go into later, so if you wold like to see how this concept could work for you, contact me and we will discuss your particular situation.
Phone: (615) 512-9136
343 Deer Park Lane
Lafayette, TN 37083