10 Mistakes When Buying Life Insurance: Infinite Banking скачать в хорошем качестве

10 Mistakes When Buying Life Insurance: Infinite Banking

Top 10 mistakes people make when they're buying life insurance. https://themoneyadvantage.com/10-mist... 👉👉 Want the Exact 🏦Privatized Banking🏦 Strategies Our Clients Are Using to Build Financial Freedom? CLICK HERE For the #1 Secret: https://privatizedbankingsecrets.com/... 👉 👉 Listen to The Money Advantage podcast: https://themoneyadvantage.com/subscri... We want to help you make the best life insurance purchase decision possible. 1) Not buying your full human life value What do I mean by that? There is an amount that the life insurance company will issue you as the maximum life insurance that you qualify for. That is the amount that you want to have in place. The reason is that if you're just doing a needs analysis based on maybe your mortgage, loans that you have outstanding, cost to send the kids to college, they tend to lean towards having the minimum required to keep your families lifestyle, in your absence. You wanna make sure that your death benefit is high enough so that your family can keep living the life you want to create for them. 2) Not getting the right policy type. We've talked before about term life, universal life, whole life. Term insurance is something that is enforced for a length of time. This is not going to be your whole lifespan. That is something that you might need to put in place if you're trying to get your full human life value. You're going to want to make sure that that's not where you stop. The reason is that you want a product that's gonna be with you for your full lifespan. Here's a note about universal and variable types of insurance policies, and why we usually do not recommend them and why we generally don't use them. With those types of policies, you can often run into problems where the illustration shows you putting in a certain dollar amount of premium to maintain that policy and keep it enforced. The cost of insurance over time can creep up to the point where you actually need to put more dollars in than what was shown in the initial illustration just to keep the policy enforced. That, unfortunately, is a really precarious position to be in, especially when you're facing your 70's and 80's, and you're looking at the period of your life where you really need that policy to be able to pay out for you. We wanna make sure that you have whole life insurance. Whole life insurance will be in force for your entire life, and it will build cash value. A valuable component of you being able to control your capital and have it safe, liquid and growing. 3) Trying to save money Now if you're just trying to get the cheapest product today, you're going to buy something different than if you're looking at the best cost over your lifetime. If you're looking for the cheapest possible, you're probably gonna cut corners on human life value and not get as much insurance as you need. if you're looking to save money, buying only term insurance is not the way to go if you're looking at a big picture perspective over your entire life. 4) Relying on group coverage. This might be coverage that's available to you through an employer, and it's probably very low cost per the amount of death benefit you get. It's typically not portable. Meaning that when you leave that job, whether voluntarily or involuntarily, you no longer have life insurance. Make sure that you have your own life insurance policy, that you are the owner, and it's not dependent on an employer. 5) Wrong product design. This is very specific to you and what purpose you want to accomplish. For instance, if you are looking at a policy that has the maximum early cash value and a maximum long term growth for infinite baning. You want to make sure that you have a policy that's designed correctly. Most agents, unfortunately, are not familiar with designing policies that are meant to be used. They're typically looking at policies that just accumulate cash value and a death benefit over time, however, if you want to use your cash value you really need to make sure that you have specific elements in place in that policy. If designed properly you can access at least 50-60% of your premium dollars in the first year, as soon as your check clears, you can then borrow against it and put it to work in an outside investment. 6) Not being with the right insurance carrier. A) It needs to be with a mutual company. B) They need to have high financial ratings. That means a Standard and Poor's, Fitch's or A.m. Best rating of A or better. C) A Comdex score of at least 80 or better. D)100 plus year history of paying dividends. Meaning that they've been stable enough to pay through the Great Depression and the Great Recession, and they're probably not going to be failing anytime soon. **Not enough room to put all 10 in the description. See link above for full details.** #lifeinsurancemistakes #mistakeswhenbuyinglifeinsurance