The Magic of Life Insurance

THE MAGIC OF LIFE INSURANCE

Yes, we know what happens if you have life insurance and you die too soon. Yet, few of us know or appreciate the value of life insurance to provide "income tax free" as a supplement to our retirement income.

JUST AS IMPORTANT, almost no one knows the value of using participating permanent life insurance during our lifetimes.  It can save you tens of thousands of dollars when used properly as your own financing company.

My favorite example comes from data posted by the NY Post on April 21, 2018.  "The average credit card has an outstanding debt of $16,000 at 18.6%."  The monthly interest comes to about $225.

You borrow the $16,000 from your Guaranteed Cash Value policy and pay off the credit card.  Each month you pay the interest charge only of $225.  In seven years doing just that on the credit card, you still owe $16,000.  Putting the same $225 back into the insurance policy and your balance is, get this, just $-0-.  You would not owe a penny of the credit card balance and your $16,000 is usable again inside your policy.

Did I mention your $16,000 is now worth about $21,000. Your money was growing even while you were using it outside the contract.  

What a tremendous asset; Guaranteed and Participating Whole Life Insurance!