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As you might imagine, that commission can be highly motivating, especially given the median insurance agent income of ,000.

To make matters worse, many of the worst policies offer the highest commissions.

Whole life insurance provides a guaranteed death benefit that is PROJECTED (but not guaranteed) to grow slowly so that if you die at your life expectancy or later you’ll leave behind a little more than the original policy death benefit.

A whole life policy I looked at recently projected the death benefit of a

As you might imagine, that commission can be highly motivating, especially given the median insurance agent income of $47,000.To make matters worse, many of the worst policies offer the highest commissions.Whole life insurance provides a guaranteed death benefit that is PROJECTED (but not guaranteed) to grow slowly so that if you die at your life expectancy or later you’ll leave behind a little more than the original policy death benefit.A whole life policy I looked at recently projected the death benefit of a $1 Million policy, bought at 30, would be $3.17 Million at death at age 83.

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As you might imagine, that commission can be highly motivating, especially given the median insurance agent income of $47,000.

To make matters worse, many of the worst policies offer the highest commissions.

Whole life insurance provides a guaranteed death benefit that is PROJECTED (but not guaranteed) to grow slowly so that if you die at your life expectancy or later you’ll leave behind a little more than the original policy death benefit.

A whole life policy I looked at recently projected the death benefit of a $1 Million policy, bought at 30, would be $3.17 Million at death at age 83.

The most extreme advocates may even argue that you don’t need ANY other financial products during your entire life since whole life insurance can apparently take care of all your needs including mortgages, consumer loans, insurance, investments, college savings, and retirement.

The problem is that for every use of whole life insurance, there is usually a better way to deal with that financial issue.

This can be useful for some unusual estate planning issues.

However, there is a better product that provides this and is much less expensive than whole life insurance.

Million policy, bought at 30, would be .17 Million at death at age 83.

The most extreme advocates may even argue that you don’t need ANY other financial products during your entire life since whole life insurance can apparently take care of all your needs including mortgages, consumer loans, insurance, investments, college savings, and retirement.

The problem is that for every use of whole life insurance, there is usually a better way to deal with that financial issue.

This can be useful for some unusual estate planning issues.

However, there is a better product that provides this and is much less expensive than whole life insurance.

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A whole life policy would be devastated by unexpected inflation, since the dividends are backed primarily by nominal bonds, whose values would be murdered in a high inflation environment.That sounds great, almost like an inflation protection of the death benefit.Except historical inflation is something like 3.1%.That cash value grows in a tax-protected manner, and you can even borrow the money in there tax-free (but not interest-free.) Upon your death, whatever you borrowed (plus the interest) is taken out of the death benefit, and the rest is paid to your beneficiary.(You get the cash value or the death benefit, not both.) This investment aspect allows those who sell this product to find all kinds of creative reasons you should buy it and creative ways to structure it.