Understanding the Modified Endowment Contract (MEC)
A Modified Endowment Contract, also known as a MEC, could be a great way to pass on assets to your heirs. Or, it could be the worst thing to happen to your whole life insurance policy. In this article, we’ll break down the pros and cons of a Modified EndowmentContinue Reading
COVID-19 and Life Insurance
The effects of COVID-19 on life insurance companies and their policyholders is the number one question our Wealth Strategists have been addressing over the past several months. Our most common questions include: How does COVID-19 affect my whole life insurance policy? Do mutual life insurance companies have the funds toContinue Reading
Converting Military Life Insurance to Whole Life
Military life insurance is one of many benefits offered to active duty service members and veterans, but it’s not the only insurance option available. In fact, permanent life insurance policies like properly structured whole life insurance can offer more coverage and benefits than Servicemembers’ Group Life Insurance (SGLI), Family Servicemembers’Continue Reading
What Is The Guaranteed Insurability Rider?
If you knew that you were guaranteed to be eligible for life insurance, would you buy coverage? If you currently have life insurance, do you wish you had more coverage? One of the biggest reasons people don’t have adequate insurance is because their health prevents them from qualifying for lifeContinue Reading
Top 5 Common Financial Fears and How to Face Them
As adults, there isn’t a whole lot that keeps us up worrying at night, but financial fears can creep in at any time. If you’re worried about money, you’re not alone; finances are one of the most common stressors in adults of all ages. Are you ready to get overContinue Reading
How to Create a Private Family Banking System
Having a private family banking system is easier than you think. In this article, we’ll explain what family banking is, show you which financial tool to use for optimal growth and protection of your family’s wealth, and outline the benefits of having your own family banking system. Plus, we’ll explainContinue Reading
Should I Use a Policy Loan or Pay Cash?
Were you raised to believe that debt is bad? In America, we’re often taught that a high credit score and zero debt are the ultimate financial goals. Ask anyone who has amassed a significant amount of wealth, however, and you’ll see that cash isn’t always king. What is a PolicyContinue Reading
What Are Life Insurance Policy Riders?
“Life insurance policy riders? You mean there’s even more to consider?” You’ve done your homework. You’ve compared different types of life insurance. You’ve decided on the coverage you need at the price you can afford. But there’s another level of customization for your policy that provides you and your familyContinue Reading
How Whole Life Insurance Compares to a 401k
Life insurance vs. a 401(k)—is there more than one way to save for your future? When it comes to retirement, you have more options for saving money than qualified plans, like an IRA or 401(k). Life insurance is another vehicle that helps you achieve your retirement goals, often with moreContinue Reading
Cash Flow Banking With Whole Life Insurance
What is Cash Flow Banking? Cash flow banking is a concept that allows you to capture the opportunity cost of your dollars. It lets you be your own bank and earn interest on yourself. This is most commonly achieved using dividend-paying whole life insurance. Whole life insurance is used becauseContinue Reading