Charles NoonanPresident, Landbank University · Real Estate Developer & Instructor

WATCH THIS BEFORE GETTING A LIFE INSURANCE POLICY 😳#lifeinsurance #wealthbuilding #entrepreneur

22 Sept 2024 · 1 min

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0:36

Charles Noonan breaks down two life insurance structures: pick death benefit focus for legacy, cash value focus for investing. If you want cash value growth, choose the lowest death benefit possible because higher benefits mean higher annual fees eating into your returns.

Chapters

What we typically like to do when we're working with our clients is identify if they're looking to do a death benefit focus or a cash value focus. If you want a policy that you can use more of the cash to live a legacy, you want the lowest death benefit possible. Okay. And the reason for that is because the higher the death benefit, the higher the fees. So every year, the insurance carrier will be taking a larger amount from your cash value because they're anticipating that we're going to have to pay out a larger amount. Yeah, but if you're doing it for cash, you say, nope, my children have these other policies. I want to use this for investing. You do the lowest death benefit possible so that you can maximize your cash value.