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Insurance
Before we can even begin to dive into any strategies involving permanent life insurance, I need to explain the basics of permanent life insurance as well as how corporate life insurance works. Okay, let’s break into it. There are two major types of permanent life insurance: Universal Life InsuranceWhole Life Insurance Both have MANY misconceptions around them...
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A unique and interesting insurance strategy that has been gaining a lot of popularity lately is a jointly owned critical illness policy, also known as a shared ownership critical illness policy. Firstly, let me explain the mechanisms of a critical illness policy and the various components that go into making this strategy, and then I...
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In another post I explained how Universal Life insurance works, in this post I’ll be going over how whole life insurance works. Whole life is a much simpler form of permanent life insurance that has been around much longer than universal life. Just because it’s been around for longer doesn’t necessarily mean that’s it’s a better product;...
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Now that you are an expert in the world of insurance and permanent life policies, I’m going to throw a couple advanced concepts at you. I’m going to first discuss the problem that this concept addresses and then you will see how insurance can be effectively used to solve it. Most successful business owners retain...
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Okay, if you thought back end leveraging was complicated than this next concept might actually melt your brain. I was thoroughly dumbfounded by this for at least 3 months until I finally wrapped my head around it. Once I fully understood the power of this strategy it literally blew me away. In the last email...
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Ahhh my poor misunderstood universal life. Universal Life (or UL) insurance was created in the early 80’s for wealthy Americans to have another mechanism to grow investments on a tax-free basis. The popularity of them grew quite substantially over the next 20 years as we had a very high interest rate environment. UL’s were used...
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