You don’t have to die to win!
When you buy Life Insurance you buy it for a good reason. Generally, there is a need. Whatever the need there are two types of life insurance Term and Whole life.
The problem that arises within our human nature is that we tend to abandon anything that has a proven track record for a hot tip or a fast-tracked value added program. If people don’t understand something they tend to believe that it’s too good to be true, or it’s some kind of a scam. Unfortunately, the people with little knowledge always manage to pass along their expertise on a subject they know very little about.
Understand how you can benefit from insuring yourself today and spending tax-free in the future by contacting us at Info@henleyfinancial.ca for more information regarding the legacy of spending tax -free.
We can help you @ Henley Financial & Wealth Management we understand how this solution can best work for you and your family’s financial security.
Let’s explore the two types of insurance… Term and Whole Life
Term – is a type of life insurance policy that provides coverage for a certain period of time or a specified “term” of years. If the insured dies during the time period specified in the policy and the policy remains active – or in force – then a death benefit will be paid.
Therefore, the best day to die when purchasing a term policy is the day after you pay your first premium. It will never be worth more to your family’s financial security after that day. If you could tell me the day you are going to die and we could sell you insurance the day before then I would tell you to buy more term than you can afford.
Understandably a term policy is a short-term solution for a family with budget restraints, it has merit and a protection value. It has its place in many households and the coverage cannot be undervalued when looking at the financial security needs of the family.
Whole life – A life insurance contract with level premiums that has both an insurance and an investment component. The insurance component pays a stated amount upon the death of the insured. The investment component accumulates a cash value that the policyholder can withdraw or borrow against.
If you plan properly a legacy can be created with a large or small amount of money, which will create the greatest amount of wealth in a tax-free program. Because of how these policies are created there is a cash accumulation side to this insurance product. Any dollar value that fits into your own financial scenario will create a result, which has the ability to earn uninterrupted compounding values, create liquidity, and provide for collateralization, all this leads to the utilization of opportunity costs.
Using an insurance portfolio where dividends are guaranteed, once they are paid on the anniversary of the policy. You control the rate of return in your program without allowing the volatility of the market to affect your rate of return. All that is asked of you is that you contribute your premiums to yourself and your future. I refer to this as having an umbrella that will protect you for the future while providing for that tax-free rainy day.
If I told you… you could create a legacy like the Trudeau Family or the Kennedy’s, you would not believe that to be true. We know the dollar value might be different but the strategy is the same regardless of your last name. Most big family names you associate wealth with have used this strategy over generations to create and protect the wealth they have today.
If you knew what you know today – yesterday, would you be interested in the result? I believe most of us would say yes. Which means the value of hindsight understands the value of knowledge gained from our past. In life, we always want to believe that we are doing the best we can to create our own financial security based on the knowledge we have learned from our past.
Therefore, the challenge is upon you to create a safe financial family security blanket for yourself and your family. Win before you die!