Don't Fall for Whole Life Insurance Policies!

I go LIVE almost every week...Don't forget to Subscribe and Hit that bell icon so you get a notification every time I upload a new video or go LIVE

If you liked the video, please give it a "Thumbs up!" and please subscribe to see more!

#Taxes #avoidtaxes #paylesstaxes #tax #realestateinvestment #Markjkohler #KKOSLawyers #markjkohlerLIVE #Entrepreneur #rentalrealestate #taxplanning #smallbusiness #taxlaw

[justinh]

How about when your parents get you a whole life when your 16 and you pay required amount on it to keep it each month and the put a rider on it to allow you to increase in 25k increments if you want without having to do another medical exam once every 10 years. This happened to a friend of mine. After he increased his policy from 25k to 50k there was a hidden charge and within 3 months his policy was cancelled due to falling behind on premiums which he was previously paying once a year and growing the policy. Of course he finds this out at 38 yrs old while being just diagnosed with cancer. Terrible policy and they avoided paying out the 50k policy when he died 6 months later. He had a policy until he needed it. His parents were told the policy could go for 15 years without a payment. Also when he called to explain that something happened the insurance company said that once it's cancelled they cannot reinstate without a medical exam and with advanced cancer he wouldn't qualify. Thanks for bringing this up Mark!

[haneefshaheed]

Nah, I definitely respect this one! Dude was honest and very realistic; things happen, and you must be prepared for whatever…👌🏾.

[wholesomenesstv]

Omg!!! My exact sentiments Mark. I see people whose only income source is a job, paying $500 monthly premiums on IULs. If they lose their jobs, that will probably be their first bill to cut off. I’m all for affordable term, which is something people can maintain irrespective of what happens. Like you said, if a person is financially solid, they can go for it, but not when income source can’t be relied upon. Great video as always. Thanks Mark.

[Firm_letterGaming]

I was thinking about getting it but after a few vids like this one, I'm going to do my homework a little bit more but thank you for the information mark

[pj]

Very good piece to the total plan FOR THE RIGHT PERSON. You are spot on Mark.

[CapitalWorksPro]

FINALLY SOMEONE COVERED THIS, THANK YOU MARK!!!

[bdewealth]

Not mad at you. That is why I'm careful on who I sell the policy too. I'm very careful. They need to have financial stability.

[GW-MD]

Great informative video. Thanks!

That Mark himself foregoes personal ownership of one of these policies says everything you need to know!

[jesham]

Dessert! Perfect timing for this analogy. Thank you Mark!!!!

[bothhandsfinancialgroup-le]

Mark that was well said. I ageee with you 1000 percent. Many agents are selling whole life and how awesome it is without ensuring it is in the best interest of the client because it is so lucrative and this is why agents get a bad rap. I wanted to hate this video at first but everything you said is spot on. Thanks for shedding the truth

[TheWalkOnCoach]

I was scared about what you were going to say at first to make me want to cancel my policy lol but I agree 100% with your point.

[gregoryalipit]

Totally agree Mark. Why sell something to someone who can't afford it? CLIENTS first, then you get paid. You help them out, you get paid, and keep your integrity at the same time. Only someone who doesn't know what they are doing will hate on you for this opinion. Keep up the great content Mark. You're helping a lot of us save $100k+ in taxes, legally.

[PenelopeJaneSmith]

Thanks, Mark! I really appreciate your perspective!

[avanandez]

You laid it down gently Mark....thanks for addressing this!

[timiadetona]

This was actually a fair assessment 👌🏾 Have a strong cashflow. Use the whole life insurance as one of your strategies.

[eveharmonyhealth]

So informative, and true! Thank you Mark! I’m still a big fan of your work :)

[freeofthree]

I love you so much! 😍😍😍 I could listen to you all day long. Thank you 🙏

[thejimmyorozco]

No heat, I like keeping things simple for myself and my clients with term insurance and investing the rest in an account where you can control where to invest the money thank you Mark for the video

[__Ryan_]

Great video! Very simple and to the point.

[davidsisk]

🙏 Thank You, you are totally honest and I appreciate your advice, and to Hell with the Hate Mail !! Lol, your are only giving your honest, wholesome opinion!!!God Bless You and your family Sir!!