Glad you guys are doing videos. Remember with a whole life policy you are not borrowing your money. You are borrowing the mutual companies money and using your policy as collateral your policy, and the money you put in there keeps growing with interest daily and dividends at the end of the year. So when you pay any loan against your policy back, it frees up more cash for later so that you can borrow again. And if you buy the proper assets, those assets will pay the loan back for you.
Good info, but the last bit about a "MEC" (modified endowment contract) is not accurate. If funding exceeds the guideline corridor, it no longer meets the requirements to be considered life insurance. If the purpose of "dumping" excess funds to avoid taxes... that's tax evasion. Just go to the max and get another one. Or calculate the taxes and buy a policy to cover the taxes.
From a banker's standpoint. Have you ever questioned your bank while they only give you 0.1% of the money in your savings account but are the biggest owners of life insurance????
@@MRPOLY_237and on top of that charges fees for having the bank with them and charge you even more when you go negative while your money have made money for them for years. Poverty is a mentally thing. This is how the wealth is getting richer and the poor is getting worse.
Matt, you are on fire. I feel like I’ve been watching a week straight. I have my Life Insurance license and am a practice/business manager for high-producing agent. Just wanted to tell people I LOVE the insurance industry. It’s a great field(not just sales, but sales admin roles like mine are great). I’m looking forward to investing for the first time this coming year. Thank you so much for these interviews. I’m learning a lot!
✌🏿2 all. If u don't mind me asking, how was the process to get your license? Was it difficult? How long did it take? How expensive was it? Ty in advance ✊🏿. Peace 2:54
The process isn't hard but different states have different requirements.I did mine in 2 weeks but good if you work under brokerage especially if you want to be independent.I have my health and now studying for the securities license
I've only listened to half of this interview and she is talking about "over-funding" The policy Without mentioning, there are limitations to how much you can put in your policy during the first 7 years. It sounds like she's not going to mention that the second half of the interview either ha?
So at age 30 you purchased a $1M policy for $936. You could have gotten a 35yr term policy for $128/month. That's an $808 savings. If you invest that $808 into a 12% mutual fund over that same 35yr term you will have $5.3M. Money that you don't have to borrow and your family gets both. Which one makes more sense?
Thank you so much guys for all of the information. Lindsay, you were a great help and inspiration to me. I’ll be calling you soon! God bless you both and much success to both of you.
You said you are License life Agent. So I understand why you teach people to use life insurance to purchase their home instead of truly investing or even saving in other places to buy their homes. I'm happy you also speak about over funding the policy inorder to borrow your own money, and the fact that this has to be a permanent policy. Why don't you tell them as well that if they don't pay back what they borrow from the policy it will either lapses or decreases the death benefits. Also for all of you who don't understand, if you got enough money to be your own bank , what the sense borrow from yourself but have a contract with another company to pay yourself back. Woow.
These are tools that have helped so many people that don't even know about this as a way to pass wealth tax free. So let's celebrate the information because nothing is in isolation instead of finding fault in ommissions which materiality is subjective to each individuals personal information. I have benefitted from these options in different ways. 🎉
CHIIIIILLLLLLE this is good 👌🏾... YEEEEEEEEESSSS I'm an agent that get paid 6 ways with my company ANNNNNND I flip LAND NOT HOUSES...PLUS IT'S LESS WORK
I’m an agent, Foresters has one of the best universal life policys out there in my opinion. Plus they’re a stable company. you want a rock solid company. Mutual of Omaha is about as stable as they get, A+ rated
How much is the premium monthly for the highest compound interest policy and how much do I need to put in per month to accumulate cash value of 100k within 18 months or less. I need to buy a house ASAP. Would one year be unreasonable
21:49 to my understanding...it wouldn't be a larger percent he has access to but larger capital right?...since he payed another 250k on his premium, it would roll over on the previous year's dump
Try uncapped compound interest rates- however HIGH the S&P or AI or any indices the insurance company works with. Saw a client’s policy- 58% 3 years ago. The next bull market is going to be 🔥🔥🔥
Both whole and universal have interest rate. The only different is that, whole life has a fixed interest rate while universal isnt fixed but variable base on the floor and cap the insurance set for the policy.
How protected are Cash Value Life Insurance Policies against a US economic market crash on fiat monies. Will Life insurance policies be valid after a market crash?
@@MrArtVein You do not need to repay your life insurance loan, but there are risks associated with failing to do so. If you don't repay the loan before you die, the remaining balance will be deducted from the death benefit. That means your beneficiaries won't receive the funds you intended or they may need.
In a a high cash value policy, a portion of the premiums go to the base policy (death benefits) and the to the P.U.A (cash value).. So not all of the $936 was going into the cash value.
@@MrArtVeinthe interest she earns is not competitive with what she could earn in the market buying S&P 500 index stocks. Just buy term life and leave it at that
OMG!! I did this calculation myself and I'm like no one is going to question this? I'm still trying to find the benefits of doing this. I've watched so many videos and they all say the same thing. I just don't understand why would I put in all this money to borrow it from myself. I haven't seen a video yet that explains the rationale for this. Other than that you don't have to pay it back because it will get deducted from your policy.
Maybe I'm reaching but doing the math. She paid 936/month for 12 years= $134000 she paid in but she only gets $60000 in cash value? So she is only getting some of the money she paid in. Maybe I don't understand life insurance but that doesn't really sound like a win. Especially for those on a fixed income, who are living check to check. Why pay over 130,000 if you're not getting that or more back. I'm confused. Someone make it make sense for me please
It’s all about generational wealth transfer & the death benefit your family will receive when you leave this Earth… Pay attention. Stop being selfish & only thinking about yourself in the moment. You can take loans out on the policy to use to invest & create cashflow that you did not already have generating, your money yields up to around 6% annually… & the loan you took out on the policy continues to compound interest on the total balance of what you currently have in the policy regardless of the fact that you took a loan out.. If this doesn’t sound like a win to you then you will never be able to identify what a win looks or sounds like until you shift your mindset. The best & safest investments take some time to see all of the return on the investment. It’s about ownership & leaving behind a legacy for your family & generations following to continue to build on top of so that they aren’t faced with the same struggles that you had to endure from the time you were born. Let’s shift the mindsets of our people from this poverty stricken mindset, to a wealth encompassing mindset! There’s a reason why the rich & wealthy are executing on Life Insurance policies left & right because they comprehend how to leverage them! Why would you put all of your money/savings in a bank account when you can put it in a Life Insurance policy that will, 1. take care of your family if you, (God forbid) pass away, 2. Allows you to take a loan out on the policy to invest in other assets to generate cashflow that you were not earning before, & 3. Yields compounding interest annually at high percentages, regardless if you’ve taken loans out on your policy or not, it continues to yield that compounding interest on whatever amount you took the loan out for + the amount you left in the policy…. It only makes sense. Saying all of this out of love, I only want to see everyone win & create a domino effect of all of us shifting the mindsets of those we are connected to! Much love to you & God Bless you, I hope this helps, if not that’s ok too. Just keep researching & learning. We have to begin planning out our future. If we don’t, we put not only ourselves in a very vulnerable position, but our families as well. Utilizing this strategy also puts you in a position to have a real retirement fund, 1,000 times better than any traditional retirement fund that is out there! Think about it! Much love! 🖤🫶🏾
@@jihadpierce I can tell you for free that policy is structured badly. Contributing $939 into that policy monthly for 12yrs and all she had was 60k except the death benefit is her priority. And I can tell u that the cash value only started having cash inside probably around 5years to 6yrs of putting 939 monthly. I structure mine myself for 800 monthly, and I have a rider for 357 monthly. Which means I put in a total of $1157 monthly. This is my 1yr 3months old for the policies. For the one of 800 monthly, I already have 14k inside and for the one of 357 monthly, I already have 8k inside. Now think about this in 12yrs and think about how much that would be. I believe not 60k. Infact my cash value 5yrs from now should exceed my total money I put in. That's what u called "Break even" So, I think her policy lack proper structure.
Guys she is most defiantly a life insurance agent. They get paid renewals on whole life policy's and the biggest key seller is "cash value". The compound internet rate is realistically around 2-3% growth which isn't shit just go open a 401k. Now you might ask so why get a whole life policy? BECAUSE ITS FOR FINAL EXPENSES such as burial, cremation, funeral ceremony, transportations,etc... which is mainly for people who are 65+ and aren't good with savings and probably won't live 10+ years
Caveat Emptor ~ Let the Buyer Beware. All of this is supposed to work by first over funding a policy that you may or may not qualify for? What average person is able to do this? Who does this really benefit? The insurance agent! Shameful.
I've only listened to half of this interview and she is talking about "over-funding" The policy Without mentioning, there are limitations to how much you can put in your policy during the first 7 years. It sounds like she's not going to mention that the second half of the interview either ha?
Well it might be working for him. If the policy is structured properly. Otherwise u might be right about being the worst investment ever. I also use the policy my concern is that how come she put in 939 monthly inside the policy for 12years and only had 60k in cash value? That is my concern. I only funded mine with 800 monthly and this is my 14months into and I have 16k in my cash value already and the rider on the policy I have 8k inside with a 357 monthly payment.
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
Glad you guys are doing videos. Remember with a whole life policy you are not borrowing your money. You are borrowing the mutual companies money and using your policy as collateral your policy, and the money you put in there keeps growing with interest daily and dividends at the end of the year. So when you pay any loan against your policy back, it frees up more cash for later so that you can borrow again. And if you buy the proper assets, those assets will pay the loan back for you.
My favorite Finance channels: Earn Your Leisure, Stock Brotha, & Wallstreet Trapper. Make my week complete!
Licensed agent here and this is what I teach.
Good info, but the last bit about a "MEC" (modified endowment contract) is not accurate. If funding exceeds the guideline corridor, it no longer meets the requirements to be considered life insurance. If the purpose of "dumping" excess funds to avoid taxes... that's tax evasion. Just go to the max and get another one. Or calculate the taxes and buy a policy to cover the taxes.
Investments are the roots of financial security; the deeper they grow, the stronger your future will be."
The deeper your investment roots, the stronger your financial security will be in the future.
Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.
I would love an introduction to an adviser who can help me strengthen my financial roots.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
Thank you for this amazing tip. I just looked the name up and wrote her.
Please you guys, look into the fees associated with these policies. Nothing is for free, remember that!
Of course there are fees, there’s a death benefit 🤦🏻♂️
Stop worrying about fees and think how u can leverage this tool to ur advantage. People are always focused on not loosing instead of how to win
From a banker's standpoint. Have you ever questioned your bank while they only give you 0.1% of the money in your savings account but are the biggest owners of life insurance????
@@emiliaotoba8179You said it all!!
@@MRPOLY_237and on top of that charges fees for having the bank with them and charge you even more when you go negative while your money have made money for them for years. Poverty is a mentally thing. This is how the wealth is getting richer and the poor is getting worse.
Thanks!
Finally someone came around that can simplify this thing.
Good job to the interviewer getting the right questions and clarification out their
Matt, you are on fire. I feel like I’ve been watching a week straight. I have my Life Insurance license and am a practice/business manager for high-producing agent. Just wanted to tell people I LOVE the insurance industry. It’s a great field(not just sales, but sales admin roles like mine are great). I’m looking forward to investing for the first time this coming year. Thank you so much for these interviews. I’m learning a lot!
✌🏿2 all. If u don't mind me asking, how was the process to get your license? Was it difficult? How long did it take? How expensive was it? Ty in advance ✊🏿. Peace 2:54
✌🏿2 all. Congrats btw 👏🏾 🎉. Peace
The process isn't hard but different states have different requirements.I did mine in 2 weeks but good if you work under brokerage especially if you want to be independent.I have my health and now studying for the securities license
I need this asap!!! About to get some cash. Finally someone clarified the details of what happens the next year after the initial dump of funds!
Book an appointment.
Yes Indeed - She is definitely dropping those Gems!
You asked great questions, and she was very well versed on the topic. Great job🙌🏽
That's my mentor !!! Lindsay the Agent
I wanna work with her. How has your experience been?
Great questions by host excellent explanation from guest
learnt alot from this interview l loved the questions its like you were reading my mind.
for l that l subscribed🎉🎉🎉🎉🎉❤❤❤❤❤❤invite her again
What about the MEC rule?? You will run into tax implications if you overfund your policy.
I've only listened to half of this interview and she is talking about "over-funding" The policy
Without mentioning, there are limitations to how much you can put in your policy during the first 7 years. It sounds like she's not going to mention that the second half of the interview either ha?
I guess they don't have the MEC rules in Queens!
I think to remedy that is to take out another policy and store the rest of the cash there
So at age 30 you purchased a $1M policy for $936. You could have gotten a 35yr term policy for $128/month. That's an $808 savings. If you invest that $808 into a 12% mutual fund over that same 35yr term you will have $5.3M. Money that you don't have to borrow and your family gets both. Which one makes more sense?
That's not a proven strategy. That's why most people who subscribe to your idea dies without coverage and the MFs don't return that 12%
Thank you so much guys for all of the information. Lindsay, you were a great help and inspiration to me. I’ll be calling you soon! God bless you both and much success to both of you.
Good stuff! ❤
You said you are License life Agent. So I understand why you teach people to use life insurance to purchase their home instead of truly investing or even saving in other places to buy their homes. I'm happy you also speak about over funding the policy inorder to borrow your own money, and the fact that this has to be a permanent policy. Why don't you tell them as well that if they don't pay back what they borrow from the policy it will either lapses or decreases the death benefits.
Also for all of you who don't understand, if you got enough money to be your own bank , what the sense borrow from yourself but have a contract with another company to pay yourself back. Woow.
They're not going to explain that because they don't want to miss that commission
She said that.
These are tools that have helped so many people that don't even know about this as a way to pass wealth tax free. So let's celebrate the information because nothing is in isolation instead of finding fault in ommissions which materiality is subjective to each individuals personal information.
I have benefitted from these options in different ways. 🎉
Thank you for getting straight to the point.
Great interview very informative and you'll broke it completely down 👍
Is it possible to borrow soon if we can only make small payments at this point in time?
CHIIIIILLLLLLE this is good 👌🏾... YEEEEEEEEESSSS I'm an agent that get paid 6 ways with my company
ANNNNNND I flip LAND NOT HOUSES...PLUS IT'S LESS WORK
Open our eyes to possibilities just by your post.
This is good bring her back often
Up to MEC limit is good up to 7years, afterwards you cannot catchup?
Who are the best companies to purchase the policies from?
Whole life insurance and universal index life insurance
I’m an agent, Foresters has one of the best universal life policys out there in my opinion. Plus they’re a stable company. you want a rock solid company. Mutual of Omaha is about as stable as they get, A+ rated
How much is the premium monthly for the highest compound interest policy and how much do I need to put in per month to accumulate cash value of 100k within 18 months or less. I need to buy a house ASAP. Would one year be unreasonable
There are a few details that you want to be fully aware of before setting up any policy. Getting the most costumed option for you is always best.
Never forget about the security interest of the account for the policy.
21:49 to my understanding...it wouldn't be a larger percent he has access to but larger capital right?...since he payed another 250k on his premium, it would roll over on the previous year's dump
I'm glad to hear that
Important to understand whether there are tax implications from this set up.
you cooking MG!!!!!!!! Another banger
Try uncapped compound interest rates- however HIGH the S&P or AI or any indices the insurance company works with. Saw a client’s policy- 58% 3 years ago. The next bull market is going to be 🔥🔥🔥
What about using the Investment-Grade Non-Mec Policies?
Both whole and universal have interest rate. The only different is that, whole life has a fixed interest rate while universal isnt fixed but variable base on the floor and cap the insurance set for the policy.
NO. UL pays no dividend, it is a interest rate dependent policy or if it's a variable UL policy, you get what the market gives.
@@eulettagordon8102 sorry😀😀😀 that was a wrong usage of financial jargon. I was actually referring to interest rate. Thank you for correcting me
Life insurance is necessary!!!
So basically, you have to get a smaller policy about 100k but pay the maximum premium allowable per year?
What insurance companies so you recommend?
Thank you so much for this content
What happens to the cash value in the policy if you die? (Assuming you haven’t pulled it out)
Paid to beneficiary along with death benefit
Cash value goes back to the insurance company 95-99% of the time unfortunately
@@dreambrother80 no
@@mr.khalilbashir it is true on whole life. You have to do a IUL option B to get both.
@@dreambrother80 The cash benefit goes to the beneficiary less outstanding loan balances.
What is a good life insurance company
“If you got insurance on your cell phone, then you should have insurance on your life”
Great explanation.
It will take a good 10 yr to see a decent amount of cash value
You have to wait until you get to 59 1/2 to touch your 401k and be taxed. O wait don't forget minum distribution and it doesn't go through probate.
@Lindsay Smith, wht type of policy is tht?
Thank you
I love this ❤
Great information..
Great show. Thank you
#QGTM
How protected are Cash Value Life Insurance Policies against a US economic market crash on fiat monies. Will Life insurance policies be valid after a market crash?
I know for universal index, 100% protected. If market crashes u just won't make any money.. Your rate most likely fixed matter how well it does
Great Info
More of this! 💯
Dividends are the refund of over charges.
Big gems! 💎
Good stuff
23:45 , 27:30 , 28:00
Why is this strategy better than just opening an investment account and having immediate access that you don't have to pay back
It's in addition to... it's part of the whole approach of investing!
Investment-Grade Policies have max 5 and 10 Year Terms!
The avg person has $50k to invest?? More like $5-$10k
With her payment over 10-12 years, she would have saved 100-130k. Which is double the cash value and not have to borrow at a 5% interest rate.
@@MrArtVein You do not need to repay your life insurance loan, but there are risks associated with failing to do so. If you don't repay the loan before you die, the remaining balance will be deducted from the death benefit. That means your beneficiaries won't receive the funds you intended or they may need.
In a a high cash value policy, a portion of the premiums go to the base policy (death benefits) and the to the P.U.A (cash value).. So not all of the $936 was going into the cash value.
@@MrArtVeinthe interest she earns is not competitive with what she could earn in the market buying S&P 500 index stocks. Just buy term life and leave it at that
@deontemeriwether5118 Mt thoughts exactly. Get term life and pay lower premiums and then invest in index funds and etfs.
OMG!! I did this calculation myself and I'm like no one is going to question this? I'm still trying to find the benefits of doing this. I've watched so many videos and they all say the same thing. I just don't understand why would I put in all this money to borrow it from myself. I haven't seen a video yet that explains the rationale for this. Other than that you don't have to pay it back because it will get deducted from your policy.
Sounds good. But there is much more to it. I rather invest somewhere else
I might the book
Maybe I'm reaching but doing the math. She paid 936/month for 12 years= $134000 she paid in but she only gets $60000 in cash value? So she is only getting some of the money she paid in. Maybe I don't understand life insurance but that doesn't really sound like a win. Especially for those on a fixed income, who are living check to check. Why pay over 130,000 if you're not getting that or more back. I'm confused. Someone make it make sense for me please
It’s all about generational wealth transfer & the death benefit your family will receive when you leave this Earth… Pay attention. Stop being selfish & only thinking about yourself in the moment. You can take loans out on the policy to use to invest & create cashflow that you did not already have generating, your money yields up to around 6% annually… & the loan you took out on the policy continues to compound interest on the total balance of what you currently have in the policy regardless of the fact that you took a loan out..
If this doesn’t sound like a win to you then you will never be able to identify what a win looks or sounds like until you shift your mindset. The best & safest investments take some time to see all of the return on the investment. It’s about ownership & leaving behind a legacy for your family & generations following to continue to build on top of so that they aren’t faced with the same struggles that you had to endure from the time you were born.
Let’s shift the mindsets of our people from this poverty stricken mindset, to a wealth encompassing mindset! There’s a reason why the rich & wealthy are executing on Life Insurance policies left & right because they comprehend how to leverage them! Why would you put all of your money/savings in a bank account when you can put it in a Life Insurance policy that will, 1. take care of your family if you, (God forbid) pass away, 2. Allows you to take a loan out on the policy to invest in other assets to generate cashflow that you were not earning before, & 3. Yields compounding interest annually at high percentages, regardless if you’ve taken loans out on your policy or not, it continues to yield that compounding interest on whatever amount you took the loan out for + the amount you left in the policy….
It only makes sense. Saying all of this out of love, I only want to see everyone win & create a domino effect of all of us shifting the mindsets of those we are connected to! Much love to you & God Bless you, I hope this helps, if not that’s ok too. Just keep researching & learning. We have to begin planning out our future. If we don’t, we put not only ourselves in a very vulnerable position, but our families as well. Utilizing this strategy also puts you in a position to have a real retirement fund, 1,000 times better than any traditional retirement fund that is out there! Think about it!
Much love! 🖤🫶🏾
I bet u that policy was structured badly
@@jihadpierce I can tell you for free that policy is structured badly. Contributing $939 into that policy monthly for 12yrs and all she had was 60k except the death benefit is her priority. And I can tell u that the cash value only started having cash inside probably around 5years to 6yrs of putting 939 monthly.
I structure mine myself for 800 monthly, and I have a rider for 357 monthly. Which means I put in a total of $1157 monthly.
This is my 1yr 3months old for the policies. For the one of 800 monthly, I already have 14k inside and for the one of 357 monthly, I already have 8k inside. Now think about this in 12yrs and think about how much that would be. I believe not 60k. Infact my cash value 5yrs from now should exceed my total money I put in. That's what u called "Break even"
So, I think her policy lack proper structure.
Annual payment of 50K means rhe agent got paid a large commission.
How does your credit affect your policy?
I can build the best policy for Cash Vlaue growth. I designed a blue print for the clients.
Can u help me
@@kelia251 ua-cam.com/video/5hFdvPNXzvU/v-deo.htmlsi=Kha0CzseHpnlXXeM
50years of $930 monthly and all u get is 1,000,000 cash value and 3million death benefits im not sure is a good stuff.
Guys she is most defiantly a life insurance agent. They get paid renewals on whole life policy's and the biggest key seller is "cash value". The compound internet rate is realistically around 2-3% growth which isn't shit just go open a 401k. Now you might ask so why get a whole life policy? BECAUSE ITS FOR FINAL EXPENSES such as burial, cremation, funeral ceremony, transportations,etc... which is mainly for people who are 65+ and aren't good with savings and probably won't live 10+ years
Speak about facts not hearsays.why worry what people earn instead of focus how to leverage.
You totally skip the death benefit making your family wealthy when you die. It’s a long game not a cash grab
Whole life permanent policy is definitely not the best move 😂
What do you recommend
Pick the cheap 1 with no cash value
💜💜💜
There are better companies without surrender charges.
👍 👍
Gotta save this one lol
Caveat Emptor ~ Let the Buyer Beware. All of this is supposed to work by first over funding a policy that you may or may not qualify for? What average person is able to do this? Who does this really benefit? The insurance agent! Shameful.
👍
This policy sucks mine pays every quarter
Now that's a real dividend!!! Who are you with?
I've only listened to half of this interview and she is talking about "over-funding" The policy
Without mentioning, there are limitations to how much you can put in your policy during the first 7 years. It sounds like she's not going to mention that the second half of the interview either ha?
Can you get her to be my agent please
I wanted to enjoy this video but it’s not catering to middle class
Cash value isnt a living benefit. Cash value is the cash value in ur insurance. And your living benefit comes out of your death benefits
Who wants to wait until they 80 to build that cash
Beautiful Queen
1
Shes amazing
The worst investment strategy ever smh 🤦♂️
It’s working well for me lol
You missed it 😂
@@The_Walking_Asset no it’s not stop lying
Well it might be working for him. If the policy is structured properly. Otherwise u might be right about being the worst investment ever.
I also use the policy my concern is that how come she put in 939 monthly inside the policy for 12years and only had 60k in cash value? That is my concern. I only funded mine with 800 monthly and this is my 14months into and I have 16k in my cash value already and the rider on the policy I have 8k inside with a 357 monthly payment.
Its not a investment 🤦 its a vehicle to use for your investments