In this episode, we are going to talk about insurance.  There is life insurance and death insurance.  Today we are focusing on life insurance. Today I am joined by Jason Henderson.  Jason is an insurance expert who is going to talk about why you need life insurance.  

In this episode, Jason shares everything you need to know about cash-value insurance.  He shares ways to get started as well as questions you need to be asking yourself to take advantage of extra cash flow now.  He also talks about the numerous benefits including more cash flow and tax benefits.  

Show Notes:

[01:09] You need a trust to avoid probate.  You need a doable power of attorney with everything going on with COVID. Life insurance is going to recession-proof and economy-proof your portfolio.  A lot of people are too heavy in one asset class.  

[01:35] Jason has been doing insurance work for about sixteen years previous to those years he was a scientist. 

[03:05] Jason shares why he pivoted from science to insurance. 

[03:58] Insurance isn’t a necessary evil.  It is an asset. 

[04:44] There is a different type of life insurance where you actually become the first beneficiary of the policy.  It is a type of insurance meant to help in tough times so you are able to do what you set out to do in life.  

[05:30] With this type of insurance you are actually buying a portion of the insurance company that can be sold.  It is an asset that is guaranteed to increase in value every single year.  

[07:24] Cash-value life insurance is not changed very much based on the current presidential administration.  

[08:11] The death benefit comes income tax-free to your beneficiaries. 

[09:28] Cash-value life insurance already has disability and long-term care built into it.  

[11:01] A policy can be designed toward cash value accumulation or towards death benefits.  

[11:55] If you design it right a major portion of your first year’s premium is going to be available in cash for you to use.  Each year you are going to have access to even more. 

[13:57] Most people when they talk about life insurance they talk in terms of death benefits.  

[14:27] It is all about the cash and using that cash to build wealth in other ways. 

[16:18] We always want to avoid being audited.  We don’t want to do anything to get sideways with the IRS. 

[17:35] Click here to schedule your appointment with Jason.   

[18:24] There is no right, wrong, absolute answer in the financial and insurance industry. There is the individual answer. 

[19:42] You NEED some insurance. If you owe someone or love someone you need insurance. 

[20:10] The other part is how much do you want to deposit each year and have access to more money?

[21:58] Jason shares some of the questions people need to be thinking about prior to scheduling a call. 

[24:17] There are two types of insurance companies.  There are stock companies and mutual companies. 

[25:09] It is sometimes called participating insurance because you participate in the company profit.  

[27:13] Grab an appointment with Jason and figure this out.  

[29:06] People need to be extremely strategic with their money and where they are going to put it given the new administration. 

[29:20] The world is your oyster.  This makes everything possible. 

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