The other day, Mike and I were talking about a particular company that promotes the “Dangers of (Insert Product)”. You can find them everywhere. The purveyors of fear! It is a sales tactic that many proclaim is the best motivator. Please spare your words and comments as this is not about discrediting the method.
But let’s talk about the message. In 20 years as an agent, I have sold and owned MANY assorted products from whole life, term, IULs, annuities, and health related insurance. We have contributed to IRAs and 401Ks and invested directly in stocks, bonds, and mutual funds. My dad and his siblings were notable examples of managing investments to retire comfortably.
The Right Product
My husband Mike has a great mantra.
The right product, for the right need, and the right time.
Let’s get real with the marketing gorillas. Regulators won’t allow products to exist if they are truly harmful to a client. Let’s talk about the right fit for an IUL.
Generational Wealth for kids and grand kids
I am not a Rockefeller. Am I that old that you may not know who that is? Most Americans are living just in or above their means. When you think about long term money you must consider the “Time” you have for growth. The remarkable thing about kids and grandkids is that insurance companies see them having the “most time”. It also means that the costs of insurance are at their lowest.
For our first Grand Daughter at 2 years old, we started investing ~$60/mo.
an initial death benefit of $100,000 @ age 65 will be $764,000.
Cash Access @age 65 would be $626,000.
Cash Access @age 75 would be $1,288,000.
For a small monthly payment, Generational Wealth is incredible!
Come back next week for more ways IULs can be a smart choice!