Many individuals go to great lengths to secure their assets. Whether it be hiring an attorney or setting up an account, people are anxious to ensure they’re protected. It’s a matter of fact that we live in a litigious society, and if by chance you get caught in a financial scrape, or for whatever reason you default on debts, a judgment can be placed against you. When a judgment is ordered, creditors can then have access to your assets-bank accounts with cash, your home, your business, etc. If a creditor wants payment, they will go to great lengths to know where a person keeps their money. One of the little-known ways to protect your assets-cash included-without paying a hefty fee to an attorney is provided by a Whole Life Insurance Policy.
The concept and use of insurance has been around for thousands of years. Permanent Life Insurance as we know it today, has been in use for over a hundred years. One benefit to owning a Whole Life Insurance Policy, is that it naturally comes with built in protection.
Permanent Life Insurance is a type of asset that provides a safeguard for your money, as you reinvest your cash value into other performing assets. If the stock market is where you like to earn a passive income, you can invest with your cash value; which can buffer the stress that comes with market downturns and volatility.
In addition to enhancing your investment strategy by protecting yourself with a Whole Life Insurance Policy, this cash value asset can also be protected from creditors. Though exemption laws vary from state to state, typically cash value insurance is one of the few assets protected from divorces, lawsuits, or even bankruptcy.
If you are looking for ways to protect your assets and maximize your wealth and personal economy, a Whole Life Insurance policy is the best financial vehicle available to ensure you meet your needs. Download the article to learn more!
A Wealth Maximization Account is the backbone of The Perpetual Wealth Strategy™
