Not exact matches
In a nutshell, while most whole life
insurance is fixated on
maximizing the death benefit
of a policy and just allowing cash values to grow over time, strategic self banking focuses on
maximizing life
insurance cash values, so the whole life
insurance plan can be
used strategically as a savings and personal financing vehicle for the purpose
of recapturing your cost
of capital incurred when having to deal with third party lenders or
using your own cash.
When working on these strategies for my clients, I have a life
insurance expert that I always
use to find the most preferred underwriting and pricing in order to
maximize this specific transfer
of risk.
Our attorneys are certified in the intricacies
of personal injury law and how they can be
used to
maximize your settlement with the negligent parties and their
insurance companies.
By having an experienced Abels & Annes attorney act as the sole communicator with the
insurance adjuster on your behalf, you can trust that we will say the right things to
maximize your claim assessment instead
of giving the adjuster any information that could be
used against you.
In the
insurance world you will see universal life
insurance being
used more in advanced estate planning after other tax - free / tax deferred options (like 401ks, IRAs, etc...) have been maxed out and customers are seeking ways to
maximize their money in a tax deferred way to help minimize current tax obligations that can't be gained
using other forms
of investment vehicles.
A Return
of Premium policy ensures you get all or some
of the money you paid in back as a refund for not
using the policy; however, this option also comes with a higher premium payment since the
insurance company will have a shorter period
of time to
maximize the profit potential
of the premiums paid in.
Earnix, a pricing analytics platform, found that 45 %
of larger
insurance companies
use this tactic to
maximize their profits.
When working on these strategies for my clients, I have a life
insurance expert that I always
use to find the most preferred underwriting and pricing in order to
maximize this specific transfer
of risk.
One
of the ways we encourage our clients to
maximize their whole life
insurance policy is to
use the cash value as collateral for a life
insurance loan to purchase other income producing cash flow assets, such as real estate and other investment opportunities.
However, in order to understand this list in context, please take a moment to read through the rest
of our article that focuses on strategies you can
use along side the best life
insurance for seniors to
maximize wealth building and legacy creation.