The Younger You’re The Healthier You’re -Whole life insurance #money #wealth #shorts #insurance

The younger you are and the healthier you are, the better rates you'll be able to lock in for the rest of your life. When you buy a whole life policy, you're locking in your premium, you're locking in your rate of return, you're locking in your death benefit. There's a lot of benefits to doing it early, but you might not be able to afford a lot of insurance early in your life. So how do we get around that? Two things. We're going to buy convertible term insurance to match our death benefit that we want, which is very cheap. For example, I have a $5 million policy policy for 10 years. It's only $111, and I can convert that into whole life at any time. They'll even rebate me a year of premiums. This is an important thing to understand if you're going to play the game with whole life insurance. It's a great asset, but you have to set yourself up for success and you have to make it automated and you have to make it so that even if you got hurt, you got sick, you weren't able to work, you have a dip in your income, you can still maintain and afford the base policy. So start with that base that you can afford no matter what, Wrap a disability insurance around that, and then make sure you have enough term to convert over the years to.