LIFE INSURANCE

Category: LIFE INSURANCE

Understanding Life Insurance Solvency – Episode 395

Kim and Spencer take a listener’s question about a topic that is making the headlines all around the world which is dealing with the changes in Congress. Also, they dive into life insurance solvency.

Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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.

Links and Resources from this Episode

Show Notes

  • The insurance solvency – 0:51
  • Inflation numbers – 3:21
  • Bank rates – 3:31
  • Life insurance company’s solvency – 3:45
  • Very large transactions of life insurance companies – 5:32
  • What insurance companies are doing with their money – 7:42

Special Listener Gift

Kim Butler’s groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth… and what to do instead! 

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Convertible Term Insurance: The Third Option

“The third option is that other possibility…”
– Lynn Barrette, Counselor and inspirational blogger

Life Insurance: It’s Not An Either/Or Decision

“Whole Life or Term Insurance?” It’s a never-ending debate amongst financial advisors and self-proclaimed experts. Today, we’d like to suggest a third option.

But first… let’s summarize the two most popular and obvious choices:

Term life insurance is life insurance purchased for a limited time, such as 15 or 20 years. Term insurance is affordable, providing the insured with more coverage for less premium. Thus it puts a greater protection in place, in the form of a death benefit. However, term life insurance policies rarely provide that benefit, because of the limited time frame of the coverage. They are less expensive because they almost always expire (like product warranties) before they’re likely to be used.

Like most other insurances, term life is an “if” insurance, not a “when” insurance. A benefit is paid only IF your house burns down, IF your car is vandalized, or IF someone passes away long before expected.

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How Can I Afford Something? – Episode 389

Kim and Spencer talk about how you can afford the payments, if you should, and why Kim and Spencer talk about the word “afford”.

Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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.

Links and Resources from this Episode

Show Notes

  • Affording the payments – 0:45
  • Affording payments mentality – 1:03
  • What you can do to be able to afford something – 4:09
  • Shifting to how can I afford something – 5:17
  • All of our clients are aware of the human life value amount – 12:00
  • Affording payments for life insurance – 13:26

Special Listener Gift

Kim Butler’s groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth… and what to do instead! 

Review and Subscribe

If you like what you hear please leave a review by clicking here

Subscribe on your favorite podcast player to get the latest episodes.

Read More

Understanding Life Insurance Dividends

With all of the stock market volatility and low-low interest rates, there has been a resurgance of interest in dividend-generating assets. Most people think of stock dividends, but stocks aren’t the only asset that can generate dividends.

For those looking for a good “safe money” option, we recommend dividend-paying life insurance! In this article, we’ll address:

  • What are life insurance dividends and how do they work?
  • What kinds of companies pay dividends?
  • Are life insurance dividends taxable?
  • What are your life insurance dividends options?
  • And more.

Essentially, we’ll try to answer “everything you always wanted to know about life insurance dividends but were afraid to ask!”

What are life insurance dividends?

Mutual Life Insurance companies share their profits with participating policy holders. They do so via a dividend. This dividend is declared annually, usually around the end of the calendar year. You may have seen announcements about 2020 dividend payouts. Many companies declared their biggest dividend payouts ever, including:

  • Northwestern Mutual, which paid policy holders $6 billion in 2020, up from $5.6 billion the year before.
  • New York Life paid eligible participating policy owners a record dividend payout of $1.9 billion.
  • MassMutual (Massachusetts Mutual) made dividend payments to $1.7 billion.
  • Guardian Life paid policy owners a $982 million dollars in dividend this year, also a record payout.

Note this dividend is listed as a dollar figure and only sometimes an interest rate (more later on the latter).

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Income for Life: Create Cash Flow with an Annuity

A guaranteed lifetime income is a compelling proposition. After all—who doesn’t love the idea of being set for life? While it is impossible to know how long you’ll live, it IS possible to make sure you will receive (at least) a certain amount of income for the rest of your life. Especially in this age of rock-bottom interest rates, a lifetime income annuity can be a lifesaver for some retirees!

Single Premium Immediate Annuities (SPIAs) can provide this income, yet few people use them in their retirement strategies. How can you know if a lifetime income annuity makes sense for your situation? Let’s explore.

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401k Plans Cause Credit Card Debt – Episode 370

Kim discusses 401k plans and how it causes credit card debts. She also shares one of her favorite books that she recently read.

Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Economics thinking and strategies 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.

Links and Resources from this Episode

Show Notes

  • One of the latest books that Kim read – 0:21
  • The most amazing listeners – 2:09
  • One thing you can do as listeners – 2:49
  • 401k and credit card debts – 3:27
  • Being forced to use credit cards – 4:24
  • Money where you can control it – 5:46
  • Have cash on hand – 7:57
  • Where do you store your cash? – 9:17
  • The importance of having cash on hand – 10:37

Special Listener Gift

Kim Butler’s groundbreaking eBook/ audiobook explains why typical financial advice may be sabotaging your wealth… and what to do instead! 

Review and Subscribe

If you like what you hear please leave a review by clicking here

Subscribe on your favorite podcast player to get the latest episodes.

Read More

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