LIFE INSURANCE ADVICE

Category: LIFE INSURANCE ADVICE

Should You Exchange Your Life Insurance Policy for a New One?

“The grass isn’t always greener on the other side.”
—Ricky Gervais

There is a concerning movement now in our industry, in which some insurance agents and financial advisors are contacting policyholders (both their past clients and people they have not worked with before) and trying to talk them into “exchanging” their life insurance policy. This question of whether or not to exchange an older (usually Whole Life) policy for a newer (usually Indexed Universal Life) policy has come up with several clients lately, so I wanted to address it here for all our readers.

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Single Premium Whole Life: The Pros and Cons of a MEC

“Pay cash up front or make easy monthly payments?” When it comes to homes, cars, cell phones and other purchases, oftentimes, people choose payments. And so it is with life insurance; making “payments” in the form of long-term premiums is the common way to create and build a life insurance asset.

And yet, for those who are able… “One and done” has its appeal! Some people just LOVE the idea of being able to make ONE big life insurance payment and be done with it forever.

There are many pros and cons to consider when evaluating single premium whole life. We find that some clients choose something different after we help them consider multiple options, but it can be a good fit for others.

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Questions on Life Insurance – Episode 190

Best selling author Kim Butler and No B.S. Money Guy Todd Strobel talk about how to choose a life insurance policy. One thing you’ll learn: assets aren’t everything.

Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode.

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Myths of Borrowing Against Life Insurance – Episode 146

p4p146-mythsofborrowingagainslifeinsuranceloansToday your hosts Kim Butler and No B.S. Money Guy Todd Strobel talk about the money myth of borrowing against life insurance without ever intending to pay it back. In this episode you’ll see the power of life insurance loans and get an idea on how you could use this financial vehicle in your life.

Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode.

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The Value of Borrowing Against Your Savings – (Episode 112)

– And the Value of An Uninterrupted Compound Interest Curve!

How are you saving your money? Do you withdrawal money from your saving account, then pay yourself back later? What if you left that money in your account and let it grow and borrowed against that instead? Most people don’t figure this out until much later in life, but doing so allows you to take advantage of the value of uninterrupted compound growth. Today’s episode is a little bit more technical, but very important. Tune in to find out how to take control of your finances and keep your money safe!

If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!

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Whole Life Insurance Provisions (Episode 043)

What Happens If You Skip Paying Your Life Insurance Premiums?

P4P043-WholeLifeInsuranceProvisions

Today, on the Prosperity Podcast, Kim D.H. Butler and Todd Strobel explain what occurs when whole life insurance policyholders miss one or more premium payments. They discuss the flexibility built into whole life insurance policies, and what many policyholders forget – that if they have an interruption in income, their policy may be able to HELP them pay essential bills! Kim breaks down the order to use your money when you’re able to make payments again: base premiums, repaying the policy loan, or paid-up additions? Todd looks at the benefits in the self-employment realm.

It’s important to have your money accessible when it’s needed – do you have that safety net? Find out on today’s episode how life insurance provisions can help.
If you would like the opportunity for us to answer your question on the show or to be a guest on our show, be sure to keep sending us questions and reach out to us!

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