What do Mortgages & Life Insurance have in common?
They both share a sense of urgency!
For a Mortgage, you know that urgency is to get your financing completed within the constraints of your contract to purchase a property. If that financing, for your mortgage/loan, is not completed in time you've lost that property.
And for Life Insurance, you'll discover how the urgency to put your financial plan in place with Life Insurance when you are:
younger and healthier helps you qualify for larger policies tied to lower premiums.
Participating Whole Life Insurance can then become a more affordable option to help smooth out your financial planning:
giving you the opportunity when the financial markets are down to avoid needing to liquidate assets in your portfolio or
not rushing to sell your home when you've just signed contract on your new dream property.
In those select times you can access cash or low cost policy loans from your Participating Whole Life Policy and give your:
portfolio time to recover or
wait just a little longer for that right offer.
In one of my earlier lives I was a mortgage broker and so I fully understand all about the urgency of having your financing in place.
I have discovered it's really difficult to time when opportunities will pop into your life. And then we find our well intended laid out plans, to have liquidity available, can sometimes lay havoc to our immediate cash needs.
You want to grab the moment, you know you deserve to, yet life sometimes gets in the way and makes it a little more messy to take advantage of that opportunity that just popped into your life. You have the assets; they're just not for the moment needed, liquid.
It comes down to learning to plan earlier for your unplanned "opportunities".
It's not easy to take the initiative to create a flexible sources of funds that you can count on for some future unknown opportunities. Many people are not aware of this concept of:
Cash Value of Participating Whole Life Insurance; giving you the opportunity to become your own banker.
With Participating Whole Life Insurance you have access:
to low interest rate policy loans
You determine payback schedule or not and
with repayment of your loans:
your cash value and death benefit will be fully restored
allowing you to access cash for future events.
Participating Whole Life - 10 Year or 20 Year Pay
makes it easier to commit to start paying for an Insurance Policy; the premium payments actually have an end date! With the above examples your policy is paid in full in either 10 or 20 years.
It's the Cash Value of Participating Whole Life Insurance that you want to capture; a great tool that takes early planning on your part so you won't have to let opportunities pass you by.
If you are fortunate enough to give your children policies when they are newbies you will be opening up for them a world of opportunities that they won't have to miss!
This would be a perfect fit, to purchase for them with either a 10 or 20 year pay Whole Life Policy. Maybe even ask the Grand Parents to partake in this life changing gift.
If you are not familiar with the concept of Cash Value of Life Insurance,
let's start the conversation.
Debra K. Bedell
Insurance - a great Hedge against Risk.