4 Mistakes People Make When They Buy Cash Value Life Insurance

Life insurance can be one of the most powerful and impactful assets in your life IF you utilize it properly. Unfortunately, most people don't view or utilize life insurance properly to enhance their entire financial journey. In this video, I talk about the 4 mistakes people make when it comes to how they decide to utilize life insurance in their personal finances.

🔎 Resources 👇

Link to @BetterWealth video reacting to Ed Slott:

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📖 Chapter Timestamps Here ⏰
0:00 Intro to 4 biggest mistakes with whole life insurance
1:08 Overview of what inspired this video
2:30 Mistake 1 - Thinking of Life Insurance As A Cost, Not An Investment
5:29 Mistake 2 - Pay As Little As Possible for Life Insurance
9:55 Mistake 3 - Not Understanding The Benefits of Life Insurance
16:00 Mistake 4 - Not Aligning Your Life Insurance Policy With Long Term Needs
17:00 Align Your Financial Decisions With Your Values & Beliefs

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VALUABLE CONTENT TO CONTINUE THE EDUCATIONAL JOURNEY:

How To Properly Structure A Whole Life Policy

Indexed Universal Life vs Whole Life - Which is Better

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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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[Dr.Mary.Kang.D.D.S.]

Thanks for this video - it was great! Watched the link you put as well on Better Wealth's page with Ed Slott. Both you and Ed mentioned that it's important that you do NOT own the policy yourself. How would you recommend that the policies are owned (ILIT or someone else) or how would the beneficiaries need to be set up to be estate tax exempt? Thanks so much! - Mary