How life insurance can create more wealth?
The key to financial success is spreading your money; savings, stocks, investments, etc.
Emergencies happen! You never know when you will be hit with an emergency surgery, need vehicle maintenance or simply need a down payment for a home . One day, you will remember, you have money that has been growing over time in your policies. Let me tell you how.
Did you know some life insurance policies can generate cash? However,the key is to get a permanent one:
β’β’ππ‘π¨π₯π-most expensive
β’πππ«π’πππ₯π
β’ππ§π’π―ππ«π¬ππ₯( my favorite- Affordable/flexible)
Over time, these policies can grow cash value. It’s several ways to get the cash:
ππͺπ§π§ππ£πππ§- cancel the policy completely (cash minus fees)
πππ©πππ§ππ¬ without canceling. Your heirs would just receive reduced benefits
π½π€π§π§π€π¬ ππ§π€π’- you could borrow from your policy. This may be more flexible than traditional loan. No credit check, Easy application. And you won’t be asked what you want to do with the money.
πΎπ€π«ππ§ π₯π§ππ’ππͺπ’π¨- in case you can no longer make monthly premiums, you can use cash to cover couple of months.
Furthermore, the biggest benefit of having life insurance, is not being a burden to your family when you leave this earth. Many young people never think they will need insurance or believe they will live for many years. Life comes with so many uncertainties. Always be prepared!
You can have multiple policies. Creative strategies can bring forth greater wealth. It’s best to get insured while young. It’s super affordable while young and healthy. As you get older and health issues and risks arises, life insurance premiums will cost more.
In conclusion, It’s good to find a good agent who will educate you on these things.
