When to Recommend an MEC (Modified Endowment Contract) – Episode 193

Summary:

In this short episode, best selling author Kim Butler and No B.S. Money Guy Todd Strobel break down the benefits and uses for an MEC (Modified Endowment Contract) versus a Single Premium Life Insurance Policy.

Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at welcome@prosperitythinkers.com and we may answer it in an upcoming episode.

Links in this Episode:

Listener gift eBook:  Activating Your Prosperity Guide

Kim Butler’s book: Busting the Life Insurance Lies

Kim Butler’s book: Live Your Life Insurance

Show Notes:

00:00 Intro

00:20 Todd + Kim

00:33 Single Premium Life Insurance question

01:29 When Single Premium Life immediately turns into a MEC

02:44 You can borrow against Life Insurance

03:27 What a MEC is good for

04:51 Bridge Loan Investments

06:18 MEC is not a liquid asset

07:41 Underlying expenses with Life insurance

08:24 Have confidence in a dividend, not in the stock market.

09:41 Are there any particular strategies Kim would use?

10:47 If you’re more focused on a legacy, then we recommend MEC

11:23 Listener resources- Live Your Life Insurance, Busting the Life Insurance Lies

12:20 Listener gift- Financial Planning Has Failed eBook (now Activating Your Prosperity Guide!)