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Life Insurance
What is Life Insurance
How does life Insurance create Generational Wealth?
Whole Life vs Term Life
Life Insurance is insurance on someone's LIFE! We insure our Homes, Cars, and even Pets, but many people do not have Insurance on their lives! Life insurance can be the difference between devastation and generational wealth when a loved one dies. Let's face it, when we lose a loved one it is always devastating. What if we could replace th
Life Insurance is insurance on someone's LIFE! We insure our Homes, Cars, and even Pets, but many people do not have Insurance on their lives! Life insurance can be the difference between devastation and generational wealth when a loved one dies. Let's face it, when we lose a loved one it is always devastating. What if we could replace that person's income?
Studies show that to have proper life insurance we should have at least 10 times our income. This will provide sustainability to ur family if we are no longer here and give them peace of mind.
With proper life insurance, we can create wealth in our family within our lifetime!
Whole Life vs Term Life
How does life Insurance create Generational Wealth?
Whole Life vs Term Life
Like most things, there are different types of Life Insurance. And they are almost completely different.
Term Life Insurance is simply pure life insurance. There are not any gimmicks or intricate details that one has to understand. Simply put, as long as the monthly payment is made on time the death benefit will pay out in the event that
Like most things, there are different types of Life Insurance. And they are almost completely different.
Term Life Insurance is simply pure life insurance. There are not any gimmicks or intricate details that one has to understand. Simply put, as long as the monthly payment is made on time the death benefit will pay out in the event that the insured passes away.
Whole Life insurance has many variables to it. There are also several types of Whole Life insurances. In a nutshell, Whole Life policies are comprised of both Life Insurance and an Investment account. The investment is there in case the policyholder wants to borrow from the account. This benefit makes the monthly payments on Whole Life policies higher than those of Term life. Like most investments, the money takes time to grow. For this reason, you typically are not able to borrow from the account for some time. And, once you borrow from the account it must be paid back, with interest. There are several other intricacies within Whole Life policies, but this is the basics.
Knowing what type you have is important to ensure it suits your needs.
How does life Insurance create Generational Wealth?
How does life Insurance create Generational Wealth?
How does life Insurance create Generational Wealth?
How would you define Generational Wealth?
Is it by tangible assets? Being debt-free? Or, maybe just being able to pass down a legacy to your children and grandchildren?
Well, Life Insurance can aid in creating Generational Wealth in several ways.
Life insurance benefits are TAX FREE! Yes, the million-dollar policies you hear about are pass
How would you define Generational Wealth?
Is it by tangible assets? Being debt-free? Or, maybe just being able to pass down a legacy to your children and grandchildren?
Well, Life Insurance can aid in creating Generational Wealth in several ways.
Life insurance benefits are TAX FREE! Yes, the million-dollar policies you hear about are passed down to the beneficiaries TAX FREE! If your children or grandchildren were to inherit a million dollars, or more, in tax free money think about how that would change their lives. The investments they could make! The choices they would be able to make without having to live with financial limitations or reporting to work everyday.
Life Insurance can change your family's life, and effectively, their legacy!
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