Whole Life Insurance

Converting term life to whole life insurance

5 Steps to Converting Term Life to Whole Life Insurance

There are two types of life insurance that we heartily recommend. One is dividend-paying whole life insurance—usually set up to maximize cash value—and term insurance that is convertible to whole life. (Read “Convertible Term Life Insurance: The Third Option” for an excellent primer on convertible term life insurance.) Converting term life to whole life insurance …

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lots of cash

How to Use Life Insurance to Get Cash Quick: 9 Options Using Whole Life

“The best things in life are freeBut you can give ‘em to the birds and beesI need money;that’s what I want!”-from Money (That’s What I Want), written by Berry Gordy and Janie Bradford. For over 50 years, people have been singing along with the chorus, “I need money –  that’s what I want!” And for …

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field of flowers with an alpaca. Whole life insurance is like gardening. Emergency and opportunity fund.

An Emergency Fund AND Opportunity Fund in One: How Whole Life Insurance is Like Gardening

Life insurance is a valuable asset to have for wealth protection, yet did you know it can also be an efficient savings account? With the right type of insurance, you can have a cash value account that is part emergency fund and part opportunity fund. Or, as we call it, an emergency/opportunity fund.  While most …

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Dividends life insurance

Understanding the Power of Dividend Paying Whole Life Insurance

With all of the stock market volatility and low-low interest rates, there has been a resurgence of interest in dividend-generating assets. Most people think of stock dividends, but stocks aren’t the only asset that can generate dividends. In fact, you can buy dividend paying whole life insurance, which is often what we recommend for those …

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risk insurance

Are You Insurance Poor? The Truth About Insurance Deductibles and Premiums

“Insurance Poor” is when you’ve got tons of insurance coverage…at the cost of “crushing” payments. In other words, you’re so poor from making the payments to protect yourself from the “what ifs” that you don’t have money for much else! When you’re insurance poor, it’s likely that your insurance deductibles and premiums are the culprits. …

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applying for life insurance, questions to ask when buying life insurance

Questions to Consider AFTER Applying for Life Insurance

After applying for life insurance, what questions should you be asking your agent? Last week, we published an article, “Life Insurance Questions to Ask BEFORE Applying” that gave guidance on: choosing life insurance companies evaluating types of insurance policy time frames avoiding common mistakes, and pitfalls, and more. Today, we’re continuing the conversation with questions …

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How much permanent benefit high cash/value dividend paying whole life am I entitled to?

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