The Performance of Whole Life Insurance VS High-Yield Savings, Bonds, & More!
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- Опубліковано 9 чер 2024
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Introduction - • My Biggest Misconcepti...
Part 1 - • This Calculator Change...
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*This video is for entertainment purposes only and is not financial or legal advice.
Financial Advice Disclaimer: All content on this channel is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered. - Розваги
Want FREE Whole Life Insurance Education? Go Here: bttr.ly/vault
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Hope you all are enjoying the Truth Concepts series with Todd as much as I am! Subscribe and turn on bell notifications if you want to see more videos like this!
Really enjoy listening to Todd. I think another video that speaks to the “distribution phase” of WL would be great
Super eye opening watching what the calculator demonstrates, regarding what you would have to earn in another area, as a simple comparison. Very very enlightening. Todd really knows his stuff!
I love this series with Todd. Keep em coming please : )
We have 4 more episodes recorded already!
When is Todd going to be interviewed by Dave Ramsey lol 😆😆😆
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These are REALLY fun to watch. Thanks, guys (& Kim in the background)!
Love it bro!
This is eye opening
Love this series Caleb! Thanks for the value you add for customers and financial professionals ❤
So am I! Thank you!
Amazing information! I knew WL was good, but now I see it’s great! So glad I’ve been able to learn about it and implement this into my life. Thanks for what you do!
Great video...learning alot...but I have so many questions because I'm definitely interested in learning more about life insurance policies as your own bank.
That’s great to hear! Glad this was helpful for you! We have free educational materials you can check out here that will help you in your journey! Go Here: bttr.ly/vault
Feel free to leave any questions you have in the comments also or send to us at info@betterwealth.com and we’d be happy to answer them!
Thank you I wil definitely check it out.
Love the calculator! How can I access the calculator?
truthconcepts.com
I watched the whole vid, I was really hoping you would have compared to index funds. Index funds, like SPY, QQQ, VOO, and others, earn an average 10% per year. Yes, there are bad years, but 10% is average including the bad years. Then you can borrow against your equities without selling shares using a SBLOC. I argue this is better than whole life, even if your not doing it in a tax advantaged account
Great idea for a video! We’ll look into it.
@taon4835 Where can I learn more about this strategy?
If you think that will perform better then you can have the same tax control advantages of life insurance with VUL. Whole life compared to index funds never makes sense. One operates in guarantees, and the other is probability based. Using a VUL as the alternative would be a better comparison where you can isolate the pros/cons of using an insurance contract. Many insurance only folks don’t discuss it because it requires investment licensing to offer.
Whats you may find interesting is this. You can buy the same index funds in an insurance contract as you could with a brokerage account. Even with the cost of insurance, the tax savings on withdrawals could end up coming out ahead of brokerage accounts overall. So, instead of paying short term or long term capital gains (which in my state of California would be like 33%+ for an average income earner), you could have investment growth inside an insurance contract and still have the borrowing privileges you have with all cash value life insurance. Usually the devil’s advocate is that the universal design will have a huge cost of insurance in later years, but you can shrink the death benefit over time if needed. Interesting time to be alive. That kind of product hasn’t always been around, and it’s a shame so many are opting for IULs and getting low cap rates if the individual is bullish in their outlook. They’d be better off with a product without a cap.
Am i othe only one life wtf... who has this kind of money to put away a year? 27,000 a year. like every video theyre working with these huge numbers. can you break down some more reasonable numbers for poor people? like how about a hundred a month? what can i do with that?
and yall using all these acronyms like PUA? not one video ive seen has actually told me what that means.
I need some one to break this down like theyre talking to a five year old.
Thanks for the question! To answer your question straight forward, these are real numbers and policies we work with all the time. It might seem out of reach for a lot of people but a lot of our clients can do larger amounts in their policies.
We generally don’t encourage people to move forward with this type of life insurance unless they can commit to $10,000 a year into the policy. This obviously isn’t set in stone because ultimately what matters is people’s monthly cash flow. We don’t do this because we don’t want to work with people who can’t pay but because the policy’s will not perform as optimally as we and the clients would want. There are plenty of people who would be willing to take $100 a month from you but you’ll find that the policy won’t be structured to your benefit or have any real positive long term impact.
For people that this type of policy doesn’t make sense for we usually recommend they look into convertible term insurance which gives you protection but also allows you to convert the policy into a whole life insurance policy when it financially makes sense. I hope this is helpful and that it’s clear, our aim is not to design a policy for anyone who’s willing to give us money but that we want what’s best for the client and most of the time that can’t happen unless you have a certain amount of money expendable for this strategy. But we certainly don’t think that should prevent anyone from educating themselves so that when this type of policy does make sense they are well informed and ready to go!
Here are a couple videos that may be helpful on this topic!
1. ua-cam.com/video/QOxiGjYnW8o/v-deo.htmlsi=lZV1s5qA_CU6uOxv
What is PUA?
2. ua-cam.com/users/shortsHXGPf2lwXMM?si=eIWk2REt67PGWtWG
Clearly shows how whole life is a scam. $27k a year for holding your money and giving you a $1M death policy is extremely expensive. What’s not mentioned is that to get this cash value you have to follow the life insurance company’s rules and restrictions.
I have term insurance for $400 a year through Costco’s protective life for 1.25M benefit.
Don’t let this sales pitch fool you into thinking a 1.8k is the annual premium for term life.
Not sure you were paying attention to the video - the $27k a year premium gives a $3.4 million death benefit at year 35, not $1 million (and continues to grow from there).
$1.8k for a 30 year $1 million term policy wouldn’t be out of the question for someone with a standard rating at age 35. Your $1.25 million policy for $400 is certainly not a 30 year term policy at age 35. Regardless, you can put whatever number you want in the calculator - a 22% marginal tax bracket is a lot lower than what many people are going to actually be taxed at. The math still favors life insurance vs a savings account or bonds any way you cut it for most people.
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