Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about how your cash value life insurance grows and how to get an accurate long term view by comparing it to bank rates.
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Links in this Episode:
Get the free ebook and audiobook – Financial Planning has FAILED
Submit your questions email@example.com
Kim’s latest book Busting The Life Insurance Lies
Quick read Live Your Life Insurance
Free financial calculators at Truth Concepts
[00:28] Today’s topic: Whole Life Insurance and How Your Cash Value Grows
[01:06] The whole life cash value is the perfect emergency fund
[02:36] Kim’s newest book Busting The Life Insurance Lies talks about calculating internal rate of return on page 228 in the book
[05:25] If you look at whole life companies website you’ll see a gross dividend around 6% which is irrelevant because fees are not factored in
[07:39] Your cash value should be looked at when viewed over time, not 5 to 7 years
[09:00] The rule of thumb is cash value whole life insurance grows at 2-3 points above bank rates
[10:05] What happens when interest rates come up on CD’s?
[10:46] When purchasing life insurance you’re purchasing an asset
[12:25] Books: Live Your Life Insurance and Busting The Life Insurance Lies to learn more
[13:30] Financial calculators at Truth Concepts
Tweetables:Your cash value should be looked at when viewed over time, not 5 to 7 years Click To Tweet The rule of thumb is cash value whole life insurance grows at 2-3 points above bank rates Click To Tweet What happens when interest rates come up on CD’s? Click To Tweet
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