How to Leverage your Whole Life Insurance through the Cash-Value Part
In today’s episode, we will speak to Sarry Ibrahim from Finasset Protection.
Sarry is a financial professional and a member of the Bank On Yourself Organization. He is specialized in insurance and in particular whole life insurance.
Sarry will give us an introduction to whole life insurance: What it is, how it can benefit you, how you can leverage it with the cash value part, what the risks are, and the differences with term life insurance. I must admit whole life insurance is a little foreign to me too but Sarry’s explanations were most helpful and I hope you will be able to evaluate as well if whole life insurance is something for you or not.
…or listen on Apple Podcasts
This episode is for you if, like me, you are curious about whole life insurance, what it is, etc, and wonder if it can be something to consider for yourself or not.
- Whole life insurance has 2 main functions: The cash value part (the main focus of this episode) and the death benefit.
- For whom is it? This can work for people who:
- Want to start planning their retirement from a young age
- Want to build your own pool of money, you want to access and control regardless of market conditions.
- Earn a stable income.
- Risks: You control the terms of the loan, if you cannot pay back in a year, you can extend the payback period. However, if you need to borrow but have not been able to fund your account, it will not work.
- If you feel this is something for you, do your homework and do some more research or consult with a professional (everyone has a bias, do not forget 😉. For now, I am not convinced this is something for me and I prefer the volatility of the stock markets in order to grow my money since I am it for the long-term
Who is Sarry?
- Website: Finassetprotection.com
- Book recommendations:
- Best purchase under 100 dollars: Hiring virtual personnel that can assist you with admin stuff which ultimately saves you time and hassle!
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