Permanent life insurance can be a powerful tool if used and understood properly. What people need to understand, is that the money in the cash account, can be “borrowed”. Why is this important? Why not just cash out the money instead of take a loan? One simple, mind blowing answer. You can’t tax a loan.
If you have a permanent life insurance policy, you can get to that money without having to pay tax on it. You can sock away a lot of $$ in these policies too. If you want more control over your $$ and have the opportunity to keep more of your money, this strategy is very very strong. Listen to the podcast to learn more!
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Music by Roger Clyne and the Peacemakers