Life Insurance 101

Life Insurance 101

We’re all going to die. So, if you do die
like what can you do to prepare your loved ones, your family
or your other responsibilities for your death day? You know life insurance doesn’t have to
be that dark of a conversation. I mean the reality is none of us really knows
when this miracle beating in our chest is going to beat its last beat. Or you
get hit by a truck, right? Like crazy stuff happens. We die and some of us get
into a position our life where we’re like, “Man, if I were to die I would be
worried for my loved ones what they’d have to pick up.” Now, regardless of what
age you are, understand that life insurance is your way of saying, “When I’m
done I want all of my affairs cleaned up.” Let’s talk about the big five reasons
why someone would want life insurance. And by the way, what is life insurance? Is
kind of crazy but it’s where you pay a small amount of money and then if you
die, your family and loved ones get a lot of money. And the reason why some people
engage in life insurance is because number 1, funerals are expensive.
Maybe it’s 10, 15 thousand dollars and they’re like, “Dude, that casket is
like four or five grand going in the ground.” Right? Or they have living
expenses that they want to deal with or maybe your spouse or loved one wants to
take a little break from work. You might have some debts like let’s get the house
paid off or let’s pay off the cars. I got some credit card stuff. Or I got real
estate or business stuff. College, my kids, I want them to be able to go or
retirement, right? Like, actually, if I die, you get X millions of dollars and that’s
the thing. Now, I do want you to know that I have a bonus for you when we get to
the end of this video. Because I’m going to be sharing with you how I leverage
life insurance as a living man to give me a very powerful living benefit in
business. And you’re going to want to hear this. But first, let’s just understand a
couple of things about life insurance. First of all, a lot of people think, “Oh,
life insurance is expensive.” That’s actually not necessarily true. Like for
example, for some for a healthy individual in their 30s, let’s say they
want $250,000 to go to a person of their
choice upon their death. Dude, that comes out to like $12 a month. Like we’re
talking… That’s not a lot of money. $12 a month quarter-million dollars. If you
want to be insured for a million bucks, that might cost you $48
a month, right? So, insurance doesn’t have to be very expensive and often times
people want to know insurance should actually get. A lot of
times people are looking for about 10 times of whatever their salary is or
annual income. So, for example, if someone made $50,000 a year, then they might want
a half a million dollars. Someone might say, “Hey, I want to know if I die that my
house gets paid off, the cars get paid off. And for that reason, I want to be
insured for $675,000”, right? So, you want to be
thinking how do you want your loved ones to be left when everything gets cleaned
up with the money that comes in from life insurance. Some of you might say,
“Dude, my spouse isn’t working. I don’t want my spouse to work.” So, I need to have
a certain amount of life insurance that can convert into a residual income that
they can live off of. Those are some of the considerations. Now, here’s something
that a lot of people don’t know about life insurance and I want to give you an
opportunity really understand this. By the way, if you’re connecting with this
conversation, I want you to understand that I’m
interested in life insurance for the living benefit that also comes with the
death benefit. And I’m about to show you how I leverage my policies to make me
loads of money. If any of that is interesting to you, there’s a link in the
description below where you can get with a member of my team and they’ll actually
help you explore the best companies with the best policies for doing life
insurance for your business purposes. So, check it out: If for example, understand
that there’s 2 types of insurance. There’s what’s called term and there’s
whole life. And term is generally for 20 years. If I’m 39 years old today and they
get my medical exam and basically say we’re gonna check out how healthy you
are. And based on your health and how much you want to get qualified for, these
are your terms for the next 20 years. It’ll be this amount every month but
you’ll get X. So, it’ll be $100 dollars a month but you’ll get a million
dollars if you die. And so that’s term. Term is cheap. It costs very little money
and it’s the easiest way to have something but be advised. 20 years
from now when your term runs out and you want more insurance it’s going to be when
you’re older, term becomes more expensive. That’s why some people say, “You know what?
I want to look at something that’ll be available for my whole life.” And this is
a different kind of insurance. There is a term
component but then there is another component that I want to share with you.
Let’s just say under this scenario that term is going to run me $100 a month for the amount of insurance that I want. I could say
instead let’s do a different kind of insurance where I’m going to pay my same
$100 a month for that but I’m going to pay an extra $400
a month to put into the policy to get some extra perks. So now, I’m putting in
$500 a month instead of 100. And why would I do that? Why
would I lock up 400 extra dollars that I could put into real
estate or build a business or having savings or spend you know flew fully.
It’s because there are some benefits of whole life that personally as a real
estate investor and business owner, I’m in love with to many reasons that I can
share in one video but understand this: This money that is sitting in this
account, I have the ability to borrow it. But when it’s sitting in there, I’m
earning closer to 5% on my money. In my bank I’m earning what like,
point oh nothing percent. So, by the way, 5% doesn’t make me rich. But 5% is respectable for money that’s
just sitting. You get me? Number 2, I can then borrow that money out and put it
into my investments. So, that’s a really important perk for me as an investor.
Number 3, this money that’s growing in here, guess how it’s growing? Its
growing tax-free. Do you know how cool that is? Dude, it if you got tax issues or
you want to pay less in taxes, all you do is switch your savings accounts and soon
you get massive benefit. And then the biggest reason that I’m really in love
with this is that this money is untouchable. Which basically means no one
can litigate it, the government, the auditors couldn’t even take it if they
wanted it. Because there’s this rule that currently has existed up until you know
that you can’t touch a man or woman’s life insurance. If you look at it it’s
like a bank. I leveraged my whole life insurance as my insurance bank account.
And it gives me all of these cool things. And those are some of the more advanced
concepts. So, when we talk about like life insurance 101, that was everything up
until right here. You just got more into a PhD
level which means that life insurance, I could actually have my money sitting in
insurance and in real estate and keep that real estate but pull it out and put
it in more real estate. Kind of my money sitting in three places at once.
Literally the same dollar earning in multiple places. Now, if that doesn’t jazz
or get you excited, I failed somehow in helping you
understand how financially powerful this is. So, I’m obviously a fan of this. I’ve
been leveraging this stuff for like 12 years.
I got multiple policies and I will tell you that most people don’t know how to
do this competently because it’s a specialized kind of product. But I do
have a team that does it extraordinarily well. And if you want to know who they
are, just click the link below and say, “Hey, Kris said that you’ll give me like
free consultation and kind of break this down for what it would look like.| And
there will be no charge, they’ll do all that for you. And really determine if
something makes sense. Thanks for watching today friends. That is life
insurance 101. We all going to die. And don’t forget that in that word funeral is the
root word fun. Right? Like let’s celebrate. Celebrate life and do the kind of life
insurance that allows you to celebrate life even more because it’s not just for
the death benefit. Don’t forget, there’s a massive living benefit. Take care,
subscribe, we’ll see on tomorrow’s video.

6 thoughts on “Life Insurance 101

  1. 1st

  2. The beginning 😂😂

  3. Plus the beautiful thing with whole life is you still grow your interest on the whole amount after borrowing from it, unlike a savings account.

  4. I'm getting life insurance today.

  5. When I was 18 I went to get car insurance and was getting all these high quotes because of my age then I found a really low quote that had whole life insurance bundled. It’s not a lot 25k but who knew at least that could’ve payed for my funeral. I’m 26 now and still have it

  6. I'm a life insurance agent and you are definitely right, most people do not leverage this! Cool video!

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