Cash Value Life Insurance

Cash value life insurance is a type of permanent life insurance that combines a death benefit with a savings or investment component. When you pay your premiums, a portion goes towards the death benefit, which is paid out to your beneficiaries if you pass away. The rest goes into a cash value account that accumulates over time and earns interest. You can access the money in the cash value account while you are alive through loans or withdrawals.

One of the main advantages of cash value life insurance is that it provides both protection and a way to save for the future. The death benefit can provide financial security for your loved ones, while the cash value component can be used as a source of funds for various goals, such as saving for retirement, paying for education, or covering unexpected expenses.

There are different types of cash value life insurance, including whole life, universal life, and variable life. Each type has its own features and risks, so it's important to carefully consider your options and speak with a financial professional before deciding which one is right for you.

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Traditional life insurance only pays out if you die - that's really "death insurance", isn't it?

Modern Living Benefits life insurance policies also pay out while you're still alive if you get sick or injured... at no extra cost.

It's not more expensive, it's just more expansive.

The information contained in this video is not provided by a licensed attorney and it does not constitute legal advice. If you desire legal advice tailored to your specific estate planning needs, please consult a licensed attorney in your area.

The information contained in this video provides a general overview of different types of life insurance. Please contact your local life insurance agent to determine the best life insurance solutions for your specific financial and family needs.

[_hummingbirds]

However if you don’t pay it back with interest it comes out of your death benefit….. please give the full scenario and not mislead potential clients.

[arravolleyball]

What about the death benefit. If you're planning on passing the death benefit onto your family and thinking generationally, is whole life better?

Perhaps it depends on the internal numbers.

[gkcfsgx]

You can take a loan on a 401k or many other employer sponsored retirement plans too 🤔 I don't understand the comparison of the age 59.5 limit to the ability to take a loan on cash value life insurance

[johannapolanco]

You sure if you borrow from your own money they don't charge me 6%-8% interest rate to pay to the insurance company?

[FMD_]

I would love that. I have a family of 5 and need to make changes for the future. I don’t make that much money but I want to start now.

[edwardrudnesky]

Do not listen to this video. She’s leaving out important pieces of literally every point that is selling you. And I say that as a person who has been researching dividend paying whole life insurance policies regularly as I prep myself to dive in. I can tell just from this reel that she’d set you up for failure.

[richardburchett]

Next you're going to tell me that there's these things called investment accounts that I can put money into every month and they build compounding interest that I can draw out and spend later. Ever hear of them?

[sophiessimplecooking]

It would be great if most of premium would go to the cash value instead of DB.

[jamesmir]

and how much interest would the insurance company charge to borrow my own money? why not just get a term policy and invest in an index fund?

[BudgetGunGuru]

Where can I reach you ? I’m seeing all these videos on cash value life insurance but I don’t see any on where to go to get one set up. Other questions like how much do I need to put in each paycheck for how long until I can pull out x amount of dollars comes up too

[JuicefulHabits]

In general, how much monthly are these policies required?

[amaruhouston]

How much do you have to put down for them

[lescampbell]

Question I'm looking at the IUL policy a 500k policy looks like it runs about 2200 to 4500 a year plus or minus a few 100... And has an average return of 7.09% per year ... So question is if I buy a 500k policy does the 500k increase the 7.09% per year ( meaning I would make approximately 35, 000 after that first year on average ) or does just my premium of the say 3000 gain a 7.09% or would make only 210 after the first year ...

[CanadianAiden]

If you get hit by a bus, all of your savings disappear! The insurer keeps any and all of your savings!

[CleidiAyres]

What the best cash value life insurance in Europe?

[brysonutsler]

Can i access the face value of my policy or only the amount that i have paid into it?

[toyarj]

Put it into a Roth at work. You can take out what you put in at any time but not the growth.

[tirevelation]

If you take out the cash value & never pay it back, does it subtract from the coverage if payed out?

[rtmasse]

Or you could just take the cash that you are putting in this in the bank, keep 100% and you can use that for whatever you want as well 🤯

[nictoriousdetailing]

The way all these insurance "gurus" try to sell this type of life insurance is so funny just get term life insurance and just but the rest in real-estate or some other investment that you can just pull your money out. Their premiums are nearly as expensive as a mortgage each month plus all the fees they charge you it should be illegal straight up scam 🤣