Although I’m a huge advocate of Whole Life Insurance, make no mistake about it, Whole Life Insurance is not a one size fits all solution to providing women and men all the financial security they need in their lives.
However Whole Life Insurance from my favorite insurance company, provides all it’s members with the possibility of living benefits. Most insurances in the world are TERM insurance, which is RENTED or leased insurance, these insurances typically get more expensive year after year, and don’t provide living benefits.
With Dividend Paying Whole Life insurance, there’s a savings component and also the ability for my client to borrow money from the insurance company using their insurance policy as collateral.
Now, you might ask yourself, why would anyone want to borrow money from their insurance policy? My answer is you don’t have to borrow the money, but at least it’s there for you if you need it; furthermore, whole life insurance contracts have what is known as compound interest, and this compound interest can not stop compounding until you pass away or unless you cancel or allow your whole life insurance policy to lapse(Not recommended).
Furthermore, your insurance policy and the savings you get from it are protected from creditors and lawsuits against you. This is often something most people ignore about whole life insurance contracts.
When you signed up for a whole life insurance policy, you’re TRUSTING your money with the equivalent to a TRUST, meaning that although the insurance company is legally obligated to pay you money based on the terms of the agreement, the money sent to the insurance company is technically theirs, as well as the beneficiaries you assign, meaning that this money can’t be taken from you, however, it’s also an asset to you.
If, however, the same money you sent to the insurance company was put into a savings account or other financial vehicles you own, if you’re sued, that money could be taken from you. When you get involved in whole life insurance, you’re being introduced to a whole new world of finance that a lot of people are not familiar with.
Call or text Romone for more information
Contact Romone: (416) 705-0892
You can also use the contact form for more information.
If you’re wondering why you’re only learning about this now, don’t worry, it’s nothing malicious; the truth is that dividend-paying whole life insurance is more expensive than Term life insurance, and most customers opting to purchase life insurance don’t want to hear the whole life insurance sales pitch and instead ask most insurance agents about term.
- Provides permanent Insurance coverage, same payments for life
- Protect your and your family’s finances(Can protect your personal finances during a messy divorce)
- Support your children’s future
- Living Benefits: the ability to use your whole life insurance as collateral
- Can be used in estate planning
Whole life insurance is permanent insurance, and dividend-paying whole life insurance is similar to putting your money in a TRUST account; price inflation is a reality in today’s world, and in order for insurance companies to be profitable and appealing, they have to offer their customers positive rates of return as well as ADEQUATE insurance coverage for the foreseeable future.
So the whole life insurance contract is design in a manner to provide a sense of VALUE and security to the customer, included in this value is protection from potential creditors which could even include a former spouse, who may be seeking to cash out on your hard work and prudent savings.
Contractually, your contract with the insurance company is legally binding, and therefore, this trust relationship can not be severed via any relationships you have with creditors unless you volunteer your contract to another creditor; your whole life insurance contract is creditor-protected.
Once you, as a woman, comprehend the value of a dividend-paying whole life insurance contract, you’ll feel a lot more secure about your finances.
Call or text Romone for more information
Contact Romone: (416) 705-0892
You can also use the contact form for more information.
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