Robert Kiyosaki LOVES Whole Life Insurance: The Secret Tool of the Wealthy

Robert Kiyosaki has recently come out and endorsed whole life insurance as an alternative. The wealthy understand that it is a secret tool for them to know what their money can do for them. People like Robert Kiyosaki, Warren Buffett, and some of the most successful people in the world are proof of its benefits.

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🤔 ABOUT LIFE180 😃
Chris Kirkpatrick launched LIFE180 as a solution to a problem. As the director of business development for a Fortune 1000 life insurance / broker dealer, he became disenchanted with the financial industry because of the lack of education provided to clients and how "financial advisors" were really just glorified sales people.

So... LIFE180 was launched to help give relevant financial education for people to create wealth. Along the journey, LIFE180 has evolved. Chris quickly realized he was passionate about not just helping entrepreneurs on how to leverage their money, but how to build their businesses.

Over the past 5 years, Chris has spent thousands of hours mastering the art of online business development for himself and clients. In 2020, LIFE180 morphed into a full service online business launch and development agency. If you need any help creating more revenue or generating more leads online, LIFE180 can help.

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*All content in this video is for educational purposes only and is not to be interpreted as personal financial advice.

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[LIFE]

If you want to learn more about Whole Life Insurance and how it can work in your life text:
IBC to 26786 to watch the explainer video

[prima]

Before you buy any type of insurance with a savings plan, be certain of the following:

1. There are no surrender charges.
2. There are no cancellation charges.
3. The minimum interest rate is guaranteed.
4. You don't pay interest to borrow against the policy (It's your money).
5. You will never, Ever, EVER pay taxes on your savings.
6. When you die, you get both the savings AND the death benefit.
7. Most importantly, that the premium payment is high enough so that with every payment, you are contributing to the savings plan for the life of the policy.

[jaredmestas]

Where can I find a video or article of Robert Kiyosaki himself talking about whole life insurance?

[LIFE]

What are some ways to create cash flow outside of wall street? Comment below!
Let's discuss your finances or life insurance business - click on the scheduling link in the description.

[mikegillum]

A lot of comments on here are missing the point. The loan provision is why this is so great. Where else can you get money from a tax-advantaged account under the age of 59.5, utilize it (leverage it) and your compounding is uninterrupted? Name

I'll save you the

This would be the only place, my friends.

[scottwjohnson]

Life Insurance is all about numbers and contracts.

Most people can understand more about 401Ks than whole life insurance.

[billhancoc]

If you have the money, Whole Life insurance with one of the strong mutually owned companies is a great way to diversify your portfolio by adding another conservative asset to it! Nothing wrong with including it as one of many assets you put money in. Me personally, I like the idea of having investments that are both in the stock market and not in the stock market. I think of it as a natural hedge versus market volatility, if you do it right it can't hurt you.

[JohnSmith-mmpu]

For those that believe Dave Ramsey is against whole life, that's not entirely true. He and every other term insurance proponent agree that Indexed Universal Life can be a suitable tool, but only for the super, super wealthy--those who have already maxed out every other tax-advantage savings plan and have a lot of cash just sitting around. For the majority of Americans, whole life is not a suitable product.

[PattyKakes]

I became an agent a few months ago and this is the most I've learned in that amount of time. Thank you for the free information.

[victorbarton]

Didn't even talk about direct vs. Non-direct recognition in Life insurance contracts. Another MAJOR benefit that broke people will never comprehend and or use. You don't put all your money into WL, but it should deff be PART of your portfolio. You will be grateful when all your stocks, bonds, and other correlated assets are down 20-30%+. And if you're worried about the cost of insurance you're probably too broke to get whole life... People spend more money on the damn weekend and then they complain about the "fees" about whole life...who cares lol at least you are setting aside money consistently.

[LIFE]

I have received a lot of questions about, "what is a properly structured whole life policy? What does that even mean and how do I do it?" So I recorded this video to explain it all:

Give it a watch and let me know if you have questions.

[anacastaneda]

The biggest corporations in the world like Wallmart and others the frist investment is the whole life insurance. Whole life has great benefits financial and like he say tax free loans. You can build your own bank and still have death benefit. Whole life money in this policies can not touch for your debts that is one of the bisgest reasons to keep a wholelife in addition the compund interest. He is doing a hard work to explain how wholelife can be very beneficial to you!!! Listen insted to critizar.

[chriss]

The thing i dont get about loosing to inflation is what about the money your putting into the account each month? Doesn't that help you beat inflation you usually put in way more than the interest you get.

[godsbarbie]

I love what your saying, how and where do I start?

[bobjohnson]

Can anyone see the downsides of getting a whole life policy with the premiums being paid by an employer? I was offered this but it was a bit confusing. The advisor was talking about it serving as a transfer of ownership after a certain amount of years but part of my policy would go to current owner? Any info would be greatly appreciated!

[quantruong]

Love how your message hasn’t change over the years. Very consistent!

[harryseibert]

The real reason why Robert Kiyosaki loves Whole Life is not for the policy holder who bought this "investment" But for the sales people who sell whole life- they become wealthy (the sales person) by receiving 50% commission on a sale of whole life. As long as that policy is active they (salesperson) receive residual income month after month. Residual income is the key to success. Whole life is the tool for the salesperson to use to become wealthy and that's what Kiyosaki loves residual income!

[RandyDensmore]

There has never been anything easier than convincing fools that the cheapest is the best. This guy could look a lot more intelligent and trustworthy, but he could not be more correct. Maybe 90% of these cash value products are not good, but if you dismiss the other 10% you are missing a potentially great vehicle for yourself and your progeny.

[kylepanesar]

insurance companies only pay out about 3% of term insurance. most term insurance policies expire when you need insurance.

[JeremyKeeler]

Well, first let me state that not all whole life policies are created equal. A high return policy typically pays north of 5%-7%
If you place your money in a savings account you are looking at an APY of less than 1%, sometimes as low as .5%. Inflation is generally accepted to be at 2% as of October of 2018. In reality, it's closer to 4% But if we come to a middle ground of 3% that means that even if your savings account pays a whopping 1% return, you are losing 2% of the purchasing power of your money every year. In a high yield whole life policy, you are beating inflation and then some. Also, if you take a loan out on your cash value, you are receiving a loan directly from the insurance company, not from your account. The insurance company uses your cash as collateral. Meaning that if you have $50, 000 in cash value in your policy and you borrow say $15, 000, you are borrowing that 15K from the insurance co. and not from your account. This means that the cash value of your account doesn't drop to $35K, it stays at $50K
The money that you borrow will usually have an interest rate of 4-5 percent. So, at the very least the loan is essentially free, and if you earn over 5%, then you are actually earning more in dividends and interest than what your loan is costing you.
Imagine you own a bank and you are the only customer. If you borrowed from the bank you owned you would have to pay your bank back, but when you pay your bank back, that money is basically flowing to you. Again, not all policies are equal. I have a Universal Life policy from State Farm that I got 17 years ago. I recently borrowed from it's cash value, but they pay so little and charge so much on interest I am not coming out ahead and in fact, am paying out 2.5% of penalty. That's an example of a poor policy. A good policy pays 7% interest and costs you 4 or 5 percent in interest. Plus a non-stock whole Life company is not tied to the stock market, so if the stock market crashed tomorrow, the value of your policy would not drop 1 penny. But a ROTH IRA or a mutual fund or an insurance company tied to the market would lose value instantly.
There are people that stash millions in cash into whole life policies and then loan out money to house flippers at 10 to 14% all the while earning money off the full cash amount of their policy. It's a beautiful system!