The Most Misunderstood Asset in History: The Positive Case for Whole Life Insurance

[@BetterWealth]

Want to join us in person for the best life insurance event of the year? Go Here: andasset.com/mastermind

[@johnp7739]

Since you mentioned HELOC, have you ever talked about velocity banking, using HELOCs for investments, etc? I've heard things about that but I'm not sure what I think about them.

[@chroniclesnate]

Greatly enjoyed our time together! Thank you again for the invitation brother 🤝

[@BetterWealth]

So much fun bro 🙏

[@AnthonyBove]

I think the reason i like you guys so much is because of the values you focus on, family, purpose, all the other things that have value besides money

[@BetterWealth]

Appreciate this comment Anthony!

[@TrentFortner]

Great session guys! I am proud of each of you for your impact in this industry.

[@chroniclesnate]

Thank you brother!

[@BetterWealth]

🙏🙏🙏

[@cwall216]

This was some outstanding content

[@BetterWealth]

Will be making a video soon on it 😊❤️

[@TorinZonfrelli]

Yes please do a visual 9:57

[@TorinZonfrelli]

Growing your wealth is playing offense. Defense is your protection. And when you play really great defense, you give your offense better opportunities. So damn good. I love this analogy. I’m licensed in home, auto and life and insurance and I’m totally going to use this phrase to help people understand why proper protection of their assets is so valuable.

[@chroniclesnate]

Glad you found this so valuable!

[@BetterWealth]

This makes me happy 🙏. Thanks so much for watching and commenting 🔥

[@lilo4518]

Great information

[@BetterWealth]

Thank you so much for watching!

[@jcrockett870]

You guys talk about policy design and how important that is... i just like to say i have the WL100 with Massmutual, and i gan do all the things you guys talk about. I like the death benefit because I am older and my term expired.

[@lindaniblackmogul6643]

Thanks guys i learned a lot ,a lot of professional finance guys attack me when i talk about this

[@BetterWealth]

Really glad this was helpful! People tend not to approach things objectively. We’re hoping to change the conversation around this in the finance world. It’s a big uphill battle but we think it’s possible!

[@rontreboski4865]

I do Enjoy the channel and the conversations. It makes me think of WL with so many wonderful features.. and I agree with so much of what is said, but When you compare it to a high savings Acct, VS the WL.. and if something happens, Let’s not say a death but a job lose, and now I have this WL Obligation or DEBT Obligation and I can’t pay for a few years then we Risk losing the whole policy or having serious loses like as if I didn’t pay a Mortgage on property, U compare it to a Saving Acct ( I can go a few years not contribute to the Acct ) and the Saving Acct is Much Less Risky and less reward, and yes we pay taxes on the gains and less reward.. but we need to compare all factors. I would be interested in seeing the stats on how many WL policy are written and how many Fold or Surrendered?

[@BetterWealth]

Great point! I should do a video on the flexibility of life insurance and looks at the stats as well! We try to design policies to weather major personal financial storms.

[@chadhanson3431]

~46 minutes- I would go with heloc because it above the line deduction re taxes if used appropriately. I would go to life insurance for bigger life issues.

[@terrysammon6077]

Great content. Does anyone know if Dave Ramsey, Suze Orman or The Money Guys (and all the other haters) have actually read Nelson's book BYOB. I've always wondered.

[@BetterWealth]

I am unsure but if I had to guess I would say probably not. I know Dave Ramsey has seen something because he understands some of the concept same with the Money Guy show.

[@amberdelgado9335]

Yes please break it down😊

[@denko44]

Infinite banking sounds good, but you gotta have a good chuck of cash for it to be practical. If someone is putting 2 hundred, 5 hundred.. or even a 1000$ dollars a month.. it's gonna be a long time before you can leverage your policy in a meaningful way. I see this making sense for people with higher net worth. It's an obvious no brainer then. It's alot less attractive for the average Joe, especially since not your whole premium gets dumped into your CV.

[@jrs66]

How do you use it for your first lein heloc ?

[@chaosdragun1608]

The main reasons ive used an overfunded whole life policy is to temporarily earn cash faster than a high yield savings account due to the tax implications on the savings account to pay off your debts faster.....yes you may be able to earn faster in the open market but it may also go down and take you longer. Once you're debt free, except to yourself, just utilize it for the death benefit minus the unpaid loans to yourself and i move onto other ways of building wealth. At the end of the day its a case by case situation but ive yet to find a better guaranteed way to grow my cash for the temporary purposes of getting out of debt with a remaining death benefit that will be there until i die.

[@yvonnehyatt8353]

I like R.Nelson Nash.His family has the wealth now.🌎.

[@cwall216]

Congrats on fatherhood!!!

[@lindaniblackmogul6643]

Does this work in the US only

[@BetterWealth]

We only work in the USA. There may be similar practices in other countries but we can only work with US clients.

[@steve-on3234]

It’s not infinite. You can’t take out but a portion of your cash value (meaning you don't have full access to your cash value like you would if you invested normally), or the policy will collapse (unless you keep adding money) and then you would you lose the life insurance and have a big tax bill on the gains.

[@firecraig]

🤦‍♂️you’re kidding right???

[@steve-on3234]

@@firecraig no I’m not kidding and I’m 100% correct. Are you saying that you can borrow all your cash value without having to pay out of pocket back to cover cost of insurance each year and let the policy collapse without triggering tax on all the built in gains? By the way I am a tax attorney. 😤

[@firecraig]

@@steve-on3234 I’m saying “you’re kidding right” because it’s mind-blowing how stupid people are. You clearly don’t understand the concept of using your cash value as collateral so that all of your cash value keeps growing. You mention other investments, whole life is not an investment, without realizing the second you pull out that other investment, it earns ZERO. Am I supposed to be impressed you are a tax attorney??? 😂😂😂😂

[@kenpowell3557]

why not your 401k loan?

[@firecraig]

The second you take it out, it stops growing. Not so with a policy loan from a whole life policy because you aren’t taking it out.

[@steve-on3234]

It’s not a scam. It’s a terrible product.

[@steve-on3234]

You guys need to quit selling this crappy product. Ripping people off. You need to tell them to get term and invest the difference. There’s just no other reason for not doing that. You don’t need to borrow from a life insurance policy when you can invest the difference and either spend what you’ve built up as your own cash value in a brokerage account or you can borrow against your stocks if you don’t wanna sell it and pay capital gains. Same thing you just not overpaying for an insurance policy

[@BetterWealth]

Thanks for sharing your perspective! Any desire to come on the show to present your ideas to our audience? Would give us the chance to have a good conversation and hopefully expand our understanding towards each other. Let me know 😁

[@steve-on3234]

Cash value is no stronger dollar than a dollar invested in a treasury or real estate. That’s where the life insurance companies put their money that they get from premiums to pay dividends.

[@firecraig]

Don’t know what you dont know.

[@steve-on3234]

@@firecraig then why don’t you try actually correcting me with facts instead of BS?

[@firecraig]

@@steve-on3234 gladly. Show me a treasury or real estate that you can borrow up to 96% of the value with zero qualifications or credit checks and no payment schedule. There you go ace. 😀

[@firecraig]

@@steve-on3234 I can gladly keep making you look stupid. Don’t believe me? What is the difference in cash value in a whole life vs a universal life policy? Does the life insurance company keep your cash value when you die? There you go. 😀

[@josephcopeland7071]

Couldn't make it through the whole video. There are too many ads. Most videos build off the same concepts, and I enjoy rewatching but not willing to sit through that many ads over and over.

[@BetterWealth]

Thanks for your feedback on this. We will have to look into this. I believe we don’t decide on where the ad placements go or how many but I will have our media team look into this. Thanks for sharing