In the late 1960s, a musician named Edwin Starr rose to fame with a song titled, “War.” The chorus of the song is “War, what is it good for? Absolutely, absolutely nothing.” This song became a cultural song for the time period and has been popular ever since. Using this chorus, I want to pose a similar question about life insurance and ask: What it is good for? What about Life Insurance with a paid-up additions rider (PUA rider)?

What is Life Insurance Good For?

Forget about the fact that you may have never heard of the “Infinite Banking Concept” or a PUA rider. If you were to go out and buy a life insurance policy what would be your primary motivation for doing so? Well, for most people it is to buy just that…life insurance. They feel like they have some need to cover what we refer to as their “human life value.” When people approach life insurance in this way, looking for just a death benefit , a death benefit (if anything) is all they will ever get in return for their annual premium for the life insurance policy. With this in mind, most people would say that the primary reason for life insurance is to provide a potential death benefit.

Life insurance has tremendous value, but because most people have a hard time buying something just to protect against their premature death, many people today chose not to own it. There is, however, a way to make life insurance much more than just an annual premium cost for a potential future death benefit.  This is where the PUA rider comes in.  With Infinite Banking-focused life insurance, we use a very unique blend of both life insurance together with an additional rider that provides immediate cash into the policy called “cash value.”

What is a PUA Rider?

The PUA rider provides the insured with a small packet of insurance that is immediately paid for and is added to the overall life insurance contract. The primary reason why this PUA rider is so important is because it provides immediate cash value (liquid cash) to the policy holder. This cash value, along with the death benefit of the life insurance policy, provide the foundation for creating a process that gives you immediate life benefits in addition to a permanent and guaranteed death benefit. With the PUA rider at the foundation, you can now use your policy for your entire lifetime, in addition to the peace-of-mind that comes with knowing that you will pass on a tremendous legacy upon your death.

With this in mind, I would say (or maybe sing) “PUA, what is it good for? Absolutely, absolutely EVERYTHING!”

To learn more about this unique rider and how we can use it to customize a plan for your financial goals, please reach out to us today for a free consultation.

Ryan Lee

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