The Essential Guide to Whole Life Insurance for Ages 55+
Вставка
- Опубліковано 20 жов 2024
- Revealing the 5 best whole life insurance policy designs for anyone 55 and older who wants to grow and protect their wealth for generations to come!
Ready to set up your own And Asset Policy? Schedule a free clarity call - www.andasset.c...
Get FREE Overfunded Whole Life Insurance Education and Resources - bttr.ly/vault
________________________________
Website: bttr.ly/andasset
Email: bttr.ly/info
======================
DISCLAIMER: bttr.ly/aapolicy
*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 information on this channel. Neither host or guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.
Very educational…Thank you both! 🙏❤️🤓
So glad to hear!
As to your comment where you want to put policy on your grandchildren, and the need or requirement that your second generation in other words your children must have insurance, do your children have to own the policy where can I I be the owner of their policy?
Great question. You can own the policy still!
Regarding the SPIA/PDF strategy: I thought with a SPIA, you don't get the remaining cash if you die early? Wouldn't this be more similar to a MYGA than a SPIA? Or do you use a special SPIA that pays out in 10 years and pays a death benefit on extra liquidity? I am familiar with the PDF, but I was getting confused with the SPIA language.
SPIAs are a very unique annuity in that they can be customized based on your financial needs. The type of annuity design we use for this strategy is called a "Period Certain" annuity. This means that the exchange of $$ between you and the insurance company guarantees you a set return of income for a certain period of time. Such as 7, 10, 15yrs. This type of annuity would pay out to you (the annuitant) or to a beneficiary (spouse, child, trust, etc) in the event of your death prior to the designated period. The type of SPIA you are referring to is called a SPIA for life (sometimes that also includes a period certain) option, which means you will receive income from your SPIA until the day you die, or a fixed period of time if you die early into the lifetime income contract. In our example - the SPIA and PDF work the exact same way for the same illustrated period of time. I hope this helps!
@@AndAsset helpful, thank you!
@@DallinBunnell you always have been a supporter with what we are doing here at Betterwealth. You always ask great questions and your insight is always invaluable, I appreciate you!
@@DallinBunnell Man you on both channels making us better, thank you!
Pdf option is really bad earning 200k of 1m (20%) over 10nyears is really bad growth... Do math guys
This strategy is for those who have already passed their max risk stage and want maximum safety while still having a permanent life insurance policy.
I understand that 20% of 1 million is 200k over 10 years. However, the full 1 million does not sit in the PDF account every year; it gets smaller as that account funds the policy.
After 10 years, having 200k more than I started with, a permanent death benefit to my family, and a LOC I can access that has tax advantages is a pretty good gig for the right person.
For the younger wealth builders that have risk in the tank, I don't think this is a great strategy for them.
Generation policy is really bad for i.b over half go for insurance payment why?
Pdf is just a temp storage of money it can be anything does not have to be annuity but fine it works only if u have a lot of money and dont know where to put it. Most people are not in this game and again very bad for i.b as it structure to not using ur money for 10 years.
This is not an I.B video
First policy is a Pretty bad policy for i.b as u pay 36% for insurance, and u break wven at year, i reached it within 4 years
My policy is 90% cash 10% insurance and much much faster growth.
Yeah, I get that.
Policies four years ago were also different from those today. If all conditions were perfect, you could get a policy to break even in year 4 with the right company, age, health, etc. But this is an example of an older person and a company that favors long-term growth vs. upfront growth. Not all policies are created equal, but for this company, this was the maximum overfunding one could do at this age.
Send me your original policy with your age to dom@betterwealth.com, and I'll send you an apples-to-apples illustration showing that your policy may have broken even in year 4. I don't know how old you are, but let's say this company in the video example breaks even in year 6. This same design with this same company will likely outperform it down the road. (I am making assumptions without knowing anything about you, the company or policy)
Also, for people of the age of 65, their focus is not usually on infinite banking. This video is focused on preserving generational wealth and giving options.
LOL I have that policy with your company !! @@AndAsset