BEST Whole Life Insurance Good Investment

Permanent life insurance is coverage for your entire life. Under this type of life insurance policy, your coverage will never expire and will never need to be renewed. This is, of course, assuming the premiums are paid in a timely manner.

Whole Life Insurance coverage is for your entire life. Unlike term life insurance, which only pays out if you die during the policy term.

The amount, for which you are insured, also known as the death benefit, will be paid to your beneficiaries at the time of your death.

Whole Life Insurance vs Term

Whole life is a hybrid investment and insurance product that covers you until death. For someone who is 30 years old, the premiums can be less than $800 per month, and they don’t change over the life of the policy.

Whole life insurance is a more complicated product than term life insurance.

Like universal life or variable universal life insurance, whole life offers an insurance payout and, over time, the policies accrue a cash value that can be withdrawn.

Typically, a whole life policy’s cash value increases by a guaranteed minimum per year and by a larger, “expected” amount that varies each year with changes in the financial markets.

Term life insurance does not offer a cash value.

It only serves to insure you against death during the policy’s term.

Why buy Life insurance?

Life insurance financially protects your loved ones in the unlikely event you or your spouse dies before your family builds a significant net worth.

You want to have enough in assets, so that your family could pay off the mortgage and maintain your standard of living, even if one or both parents dies.

You want to buy the most cost effective bridge from your current state until the point at which it’s likely your family would have enough in assets to cope with that kind of change.

Whole Life Insurance Good Investment

Investment grade life insurance is the best passive investment vehicle available. The main reason? It’s tax-exempt.  

By comparison, money inside life insurance grows tax-free whether it is owned personally or owned by Corporations and Holding Companies. 

Tax efficiency is why life insurance generally performs better than most other asset classes.

Whole life insurance has outperformed most investment types in the last 20-25 years.

As a matter of fact, whole life insurance has had an average rate of return of about 9% per year in the last 60 years. 

But there’s more to it.

Whole life insurance as an investment also prevents investors from making major emotional mistakes.

When stock markets are collapsing, typical investors fear losing all their money and when markets are performing extremely well, investors have a fear of missing out on great rates of return. 

This general behaviour leads investors to buy high and sell low.

A big advantage with whole life insurance is that it offers consistent rates of return on an annual basis.

Once the cash value and death benefit of your insurance is at a specific value, it will not go down.

The cash value and death benefit will keep going up and up each year.

Wealth Tax Free Appointment

If you’re interested in learning more about how you can help grow and protect your wealth tax-free, book a complimentary one-on-one online meeting with us today.

We’ll gather quotes from independent life insurance companies to find the best value for your specific situation (it can often be a six-figure difference or more). Then, we’ll work together to put your wealth to work for you.

Call us at 813-964-7100 or 716-565-1300

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