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Life Insurance

Everyone knows and realizes the need for life insurance.  However, many people tend to avoid purchasing it.  This is especially true within the minority community.  It is not considered a priority, because the wealth building aspects are not completely understood.  Many individuals associate life insurance purely as a benefit for someone else.  WRONG!!!!  This misinformation places detrimental financial burdens upon many families in retirement and in death.

Procuring life insurance begins with a positive attitude.  One must first understand why the word “LIFE” is incorporated into these policies.  It’s not complicated.  In fact, it’s very simple to understand.  When properly structured, these policies serve many needs during one’s lifetime.  They provide numerous tax advantages and can build wealth.  In fact, many savvy individuals utilize Life Insurance to build greater assets.

Life Insurance has four basic forms (Term, Whole, Universal, and Variable).  Each type has variations, which in themselves have very unique characteristics.  The simplest and most familiar to people is Term.   This life insurance allows for coverage during a particular time period, usually one, ten, fifteen, or thirty years.  Upon expiration one must renew the policy.  Ahhhh….There’s the trick!!  Now, the renewal premium is based upon your age at that particular time.  So, the new premium is always higher and often cost prohibitive.  This is especially true once the later years of life are reached.

The other three forms of life insurance mentioned earlier have two common features.  Similar to Term Insurance, there is a final expense benefit built into the policies.  However, most importantly they build wealth through means of cash accumulation.  Yes…..CASH!!  CASH!!!  CASH!!!!   Whole, Universal, and Variable are wealth building policies.  Even though each one has distinct features from the other, they are useful for various financial goals.  Another great bonus about these policies is that the premium will remain consistent as one becomes older.  Although they may cost a little more upfront, the advantages over one’s lifetime are immense.

These are a few of the positive uses of cash value life insurance:

  • Build tax deferred cash for retirement
  • Create college education funding
  • No credit check loan to begin a business
  • No credit check loan to purchase Owner – Occupied or Investment Property
  • Pay off high interest credit cards or other high interest debt
  • Secure the assets of an existing business

If more individuals understood the huge tax advantages, wealth building possibilities, and savvy techniques to utilize cash value life products, they would purchase it “in a heartbeat”.  Moneyman Financial will show you just how inexpensive and beneficial beginning a Family Life Insurance Plan can be.  Complete our contact form for a “FREE” confidential assessment of your financial situation.  Go ahead…..  Fill the form out now, so Moneyman Financial can guide you or your family on the road to financial wealth.  Go Ahead………..Contact Us NOW!!!!!