The TRUTH About Whole Life Insurance (What Salesman WON'T Tell You!) | Wealth Nation

Find out all the details of whole life insurance before you get your next policy.

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Whole Life Insurance vs Universal Life Insurance: Which is Better?

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Disclaimer:
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Wealth Nation provides content for informational purposes only. While we aim to offer accurate and up-to-date information, always consult with qualified professionals before making any retirement, tax, or legal decisions.

The Infinite Banking Concept® is a trademark of Infinite Banking Concepts, LLC, with which Wealth Nation is not associated or endorsed.

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⏰ Timecodes ⏰
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00:00 Introduction
01:05 What is Term Insurance
03:23 Convertible Term Insurance
04:17 What is Whole Life Insurance
05:29 Cash Value Whole Life Insurance
07:58 Buy Term and Invest the Difference
08:44 Use Cash Value To Invest
10:13 Term & Whole Life Comparison
12:55 Death Benefit should Increase with your Income
14:00 What happens if I get a terminal Illness?
14:29 How Do Wealthy People buy Life Insurance?
16:05 Conclusion

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About:
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Whole life insurance is a financial product that often sparks both curiosity and debate. Is it a smart investment or a financial trap? What are the pros and cons that you should be aware of? We've got you covered.

Our goal is to provide you with the knowledge you need to evaluate whole life insurance objectively and make the best decision for your financial future.

If you appreciate our dedication to financial education, please give this video a thumbs up, subscribe to our channel for more insightful content, and hit the notification bell to stay informed about our latest releases. Share your thoughts and questions in the comments below, and our team will be here to assist you.

Thank you for choosing our channel as your reliable source for financial clarity. Let's demystify whole life insurance together and make confident financial choices!

[WealthNation]

✍🏾 Are you ready to Start a Policy? Complete our new client application.

[davidhayes]

Listen to this video several times. Thanks for cleaning things up

[jacquetbrown]

Very helpful and informative. I love the way he started giving information, and you come in and make it all come together

[davidhayes]

Great video. Good information. In the state that I live in, it's not really legal to call life insurance an investment.

[AdamDoran]

Great explanation! Thank you for clarifying the difference between term and whole life. Also, thank you for clarifying that whole life is not an investment, but can be used to support and work together with your investments.

[frytcjf]

Very interesting presentation, I am really interested in applying one of the life insurance you guy just said

[chriscarmona]

Hey guys, just discovered this channel. Love the way your presentation and the way you break down the info. Thank you for the knowledge share!!

[barbaramccullough]

Thanks for Info. Wish you had been around when I was young !

[SheisEileenLang]

Thank you for this detailed explanation.

[ralphwilliams]

Hey, Wealth Nation!
I'm brand new to your channel. Somehow, you came up on my feed.
Never heard of you before.

Here's a little background on me.
Currently, I'm 63, married, and have a $300K term life insurance policy with Northwestern Mutual when I was 56. I had lung blot clots at that time and thought it a good idea to get life insurance to protect my wife and give something to my children. However, for the last two years, our insurance salesman has been contacting me about converting $100K of the $300K to whole life. Now, honestly, I didn't really know the benefits of whole life insurance. Additionally, the monthly premium would increase over $120. Both my wife and I have term life insurance at $300K each. Our monthly premium is about $150.00. I just thought this guy wants to make more money off of us. However, this video and another video of yours have sparked interest in whole life insurance. Is there a less expensive whole life insurance policy that helps us have a better financial life? It's still a bit confusing to me. Dividends, cash value, policy loans? Help? Thanks.

[Elsarealtor]

Hi guys, I love you videos. I am only month doing whole life with o infinity bank. But I have to say that TERM has living benefits on it, special with National Life, it is not only for terminal cases..

[Breeze-gdwj]

What company your recommend for term and for whole life and do all insurance policies age out at 100 yrs old?

[danielj]

In the example of a person with a terminal illness (I'm healthy, just asking), would the convertible insurance policy still work or would it be denied?

[tj.henderson]

Ok, so there is universal, permanent/whole life insurance. That is cool. I will check you guys out.. You guys explained it very well.

[mysticalwolfakela]

This needs to be taught in HS! Thanks for the the info. I have a rep. Coming out to go over my policy. Im not sure if I have the best policy for me. How does it work if I decide to go through a different company?

[sewingseeds.]

What are the formalities when you take cash out to invest? Are there penalties, fees, do you have to pay that back?

[frytcjf]

Please send me more info, regarding this thank you and how to apply

[Moist_yet_Crispy]

@15:06 I don't understand how to get that going. I see it's important but I feel like the explanation kind of fell off. Could you please give some more information about how to bank will give you insurance like that? There's something I'm missing and I've rewatched that portion more then once. There defiantly missing info, meaning, why would the bank pay the premium? and what account would they be looking at to make that kind of decision and where or how to go about setting something like that up. What or how much money is required and in what kind of account or investment in order to qualify for this? Thanks in advance and great video!

[waifungilism]

How does the bank finance the premiums? What kind of net worth would qualify?

[Lon]

You almost made a convincing argument that there could be a case for whole life for someone. You do explain some of these concepts very clear, better than most other salesmen I've heard pitches from and I appreciate your knowledge... however everything you get with whole life you can do better with other products, so why bother packaging those features into a inferior policy?

Once you start talking about "OPM" then yeah I guess WLI allows you to leverage more of your equity, but you'd be better off and have more fun just learning to become a professional poker player.