For many people, life insurance is nothing more than a monthly expense you’ll never see a benefit from, since by the time it becomes useful, it is a bit late for you to enjoy your new found wealth.
In an attempt to remove this common way of thinking, we would like to take this time to introduce you to a valuable use of life insurance. Loans, that’s right, loans. Now of course a term policy has no cash value so it can’t serve the same purpose. However, a whole/permanent life policy with its wonderful cash value account can be used to finance nearly anything.
It is kind of like being able to give yourself a loan. Think of it like this…….if you take a loan for any purpose, we’ll just say a car for now, what are you left with after you pay it off? You have used car. What if you had given yourself the loan? Not only do you get the car, but you get your money back as well. A life insurance policy can be a benefit, not only in the event of death, but also while you are alive as well. For more information, please contact us.