We are doing something new. It’s a brand new way to elevate the conversation around money, wealth creation, and financial freedom.
We are always looking for ways to increase your clarity and elevate your competence in making great financial decisions.
Your goals are so important that we’re willing to make changes to bring you the best insights you need.
And that is why we’ve been busy working around the clock (well, not quite), getting ready to bring you …….
Insurance is a tool that transfers your risk due to an unforeseen event to an insurance company.
For example, if you had a high cost regarding your auto, home, etc., the insurance company takes the burden of financial responsibility, instead of you.
In most cases, the coverage is for something an accident, illness, fire, or flood that you hope never happens. You insure against having to pay for the loss yourself if it occurs.
When you purchase insurance, you are insuring against a loss. This is the case for life insurance. And it’s a correct way to understand life insurance death benefit, which is the portion of any life insurance policy that pays out to your family if you pass away.
But the cash value of a specially designed whole life insurance policy is the often undiscovered and underutilized tool. It is the portion of your death benefit that you have access to use during your life, better categorized as a living benefit.
It’s this cash value of life insurance that would show up as an asset on your balance sheet, and a premium asset at that.
How is my worth and my wealth connected?
Worth is intrinsic to being human.
It doesn’t increase or decrease based on my position in society.