Is Life Insurance A Good Way To Invest Your Money

Minority Mindset is a paid partner with Policy Genius. If you use them, we will get compensated but there's no additional cost to you.

Life insurance can be a crucial part of smart financial planning, but you have to use your life insurance the right way. In this video, you will learn if life insurance is a good investment for your money

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Is Life Insurance A Good Way To Invest Your Money
0:30 - Investing can be overwhelming so life insurance can make that investing process easier
1:32 - Is life insurance a good investment you can make
2:15 - How life insurance works
2:49 - How life insurance companies make money
3:55 - How to beat your life insurance returns
4:30 - The importance of term life insurance and how to use term life insurance the right way
6:24 - How much term life insurance will cost you
6:59 - How to get the best price on life insurance using out sponsor Policygenius
8:19 - Understanding whole life insurance and comparing that to term life insurance and investing your money yourself
10:41 - How to use life insurance the right way
11:24 - What happens if you outlive your term life insurance policy

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Video host: Jaspreet Singh

DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you.

DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

[NikhLogic]

Never invest your hard-earned cash in things you don't understand, just because someone else is doing it. Spend time understanding it first.

[BRIAN_T_WEBB]

WOW! I had no idea this is how life insurance worked. Once again you have put another notch on the knowledge wheel for me. Thanks again!

[wumawattsup]

Jaspreet, my life insurance paid out after I suffered a massive "The Widow-Maker" heart attack. I did not have to die to collect within the first year of being insured. Best return ever! I'm a subscriber of yours, by the way....nice content!

[loufeather]

Thanks for putting the truth out there. Life insurance is a back stop. Not an investment.

[alexandervaughn]

I get notifications when MM uploads videos but the last few days I have had that hardest times finding your videos. Just wanted to let you know. Thanks for the great content

[edp]

i feel so bad as i got screwed into doing a whole life with an annuity. been paying $400 a month for like 5-6 years now and all i have in the annuity is $9k. people, don't make the same mistake i did. National life brainwashed me since they claim they can cover you better if you get sick and life insurance actually pay for your medical bills.

[rlg]

I never knew how the insurance game worked. Thank You Mr. Jaspreet Singh!

[GhstNoName]

You had me at, "you're gonna know how to do that by the end of this video". 🤠👍🏽

[ariefraiser]

If you have someone depending on your salary then maybe life insurance is worth it. But as your networth increases I don't see any reason for carrying life insurance. It's just a waste of money at that point.

[winchucky]

Thank you for explaining this topic. I hope young married people watched this video. Now is the time to build your wealth. Again thank you will share with my young relatives.

[dellhpfree]

I don't click Like on most videos on Youtube, but when I do its only because the video recommends Term over Whole Insurance. Great job Jaspreet Bhai. Stay safe.

[sunny]

Thank you so much brother
I really needed this info. Keep it up♥️

[allaboutrainydays]

Wow!!!! Thanks thanks for the explanation!!!! This is amazing and very good help in understanding all this best explanation I’ve found

[danstarskycutamora]

I LOVE THIS. Cleared up all my confusions

[breannagraham]

Thank you for sharing this!!!! It’s SPOT on!

[josueosorio]

Thanks Jaspreet this was very helpful 👌

[StockInvestmentAnalysis]

Thanks for the video! I would rather invest money in a high quality insurance company that has taken a decent hit from the interest rate cuts by the Fed. I like Prudential in particular.

[gloriajeanwoodcreations]

Your funny and you explain things very well. Thank you

[jodyjones]

This is an overall good and safe analysis. But we can add a few details. They won't flip one's opinion one way or the other, but I'd like to add some important details to consider. Again, not knocking safe info for general investing and whole life plans are NOT for everyone. I'm adding, not arguing. :) In the larger goal of generating wealth, a whole life plan offers liquidity and *utility, not appreciation.

1) With a whole life policy you have *enforced savings. That's nothing to downplay. How much would many of us have if we HAD to pay ourselves as religiously as we pay our mortgage for a decade? When you sign a whole life policy, this is what you're achieving. Persistent weight loss, quitting smoking, going to the gym are all great goals we all fail at b/c we leave it up to discipline.
2) After a year or so, your whole life plan would have a cash value that is a fraction of the death benefit value. It is immediately available for you to take out as a loan at all times ...
... 2a) That money is yours. There is no tax paid to the distribution.
... 2b) That money is yours. There is no application, approval, or credit check.
... 2c) That money is yours, not directly tied to a market security or stock. There is no "down market risk" where you can't take out your $10k b/c some ETF is -40% down this quarter.

So, here's where the utility comes in: The fastest way to riches is to start a business - your whole life plan is your start up loan b/c banks don't lend easily to first time businesses. Did C-19 disrupt revenue - your whole life plan can pay your rent before you have to vacate. The market crashes by some once-in-a-century number, and you're fortunately still employed - your whole life plan is the hoard of dry powder you use to buy Apple at 60 % off.

Whole life plans aren't for everyone, but those who own them benefit from using them in these ways.

[NaturalyUnica]

Thank you so much for this information.