Betty Grable’s legs were insured for $1Million, each! Bruce Springsteen’s voice is insured for $6 Million. And there is more than $10 Million worth of “Alien Abduction” insurance, written around the country.
The primary purpose of life insurance for most people is to care for their beneficiaries and allow them to maintain their standard of living, after the policy-holder dies. But what about taking care of your family while you’re still alive?
Though medical debt is still the leading cause for bankruptcy filing, other news about how people fail financially involves job loss, divorce, or mismanagement of money (Bankrate.com). The question is, how do you secure yourself for the unexpected?
Whole Life Insurance is a foundation that ensures security. As the name implies, this type of policy covers you for your entire life, regardless of your age or the condition of your health. It’s permanent. Like Term insurance, Whole Life offers a guaranteed death benefit but unlike Term insurance, Whole Life offers additional value or living benefits, as well.
For instance, one of our clients, a successful land developer, lost most of his fortune during the late recession. He chose to wait the market out for several years as he used his whole life cash value as a buffer during low income times. Because of this some of our agents refer to permanent insurance as a super savings account. Looking at traditional life insurance as a maximized savings account is just one of the many advantages. When you own this asset you receive,
- Retirement Income
- Tax Benefits
- Guaranteed Growth
Visit our Infinite 101 page to learn how Whole Life Insurance can protect you!