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The marketing practices of many life insurance companies require new agents to refer family and friends early on in their training so they can quickly generate commissions as well as profit for the insurance company. This training practice encourages the sale of life insurance products that may or may not be in the best interest …
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The question of “becoming your own banker” is growing more and more prevalent today as people begin to realize that just owning or purchasing high cash value life insurance won’t make you significantly richer. Should you become your own banker to grow and protect your financial assets? It depends. Let’s take a closer look. On …
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What is Infinite Banking? The basic idea of the Infinite Banking Concept (IBC) – aka Becoming Your Own Banker – is built around funding whole life insurance and then leveraging the cash value via policy loans to self-finance debt, personal and business expenses, investments, and even to provide passive income for retirement. Some love the …
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Read More...Table of Contents: Can I Purchase Life Insurance for Children and Grandchildren? What’s the Best Insurance Coverage for Grandchildren? The Long-Term Advantages of Life Insurance for Grandchildren Should I Buy Life Insurance for My Grandchildren? How to Buy Life Insurance for Grandchildren KEY POINTS Child Life Insurance Restrictions: Insurance companies discourage purchasing life insurance for …
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Table of Contents: What Is Variable Life Insurance? How Variable Life Insurance Works How Much Does Variable Life Insurance Cost? Is Variable Universal Life Insurance (VUL) a Wise Investment? What Is The Difference Between Variable Life Insurance and Whole Life Life Insurance? The Problems with Variable Life Insurance Alternatives to Variable Life Insurance The Bottom …
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Table of Contents: What is Private Family Banking (PFB)? Why Use Private Family Banking? How to Start a Private Family Bank Pros and Cons of the Private Family Bank Strategy Is a Private Family Bank Really Your Own Private Bank? Conclusion Private family banking (PFB) is a strategy that involves using whole life insurance policies …
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Table of Contents: What Is Reduced Paid Up Insurance? When Is Reduced Paid Up Insurance Right for You? Who Should Avoid a Reduced Paid Up Option? Alternative Funding and Nonforfeiture Options Pros and Cons of Reduced Paid Up Insurance Paid-up Additions for Life Insurance Reduced Paid Up Policies With McFie Insurance Reduced paid up insurance …
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Table of Contents: Meaning of “Per Stirpes” What Does Per Stirpes Mean As A Beneficiary Designation? What Does Per Capita Mean As A Beneficiary Designation? What Are The Differences Between Per Stirpes vs. Per Capita? Understanding the “By Representation” Distribution Method Default Distribution Methods: Per Stirpes vs. Per Capita The Bottom Line KEY POINTS Key …
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Table of Contents: Life Insurance vs. 401(k)s: What are the Differences? 401(k) as a Retirement Plan How to Use Whole Life Insurance for Retirement Do I Need Whole Life Insurance If I Already Have a 401(k) Plan? The Bottom Line: Whole Life Insurance vs. 401(k) If retirement is your goal, you want to start preparing …
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Read More...Table of Contents: What is a Roth IRA How Does a Roth IRA Work? How Roth IRAs Differ from Traditional IRAs Roth IRA Contribution Limitations How Roth IRAs Differ from 401(k)s and Other Investment Options Who’s Eligible for a Roth IRA? How Much Does a Roth IRA Earn? Can You Lose Money in a Roth …
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