Jayson Lowe says high cash value life insurance works well for inheritances, but the money alone isn't enough. You also need to teach heirs your values and how to manage it, ideally with help from a coach or practitioner who can guide the next generation.
Is high cash value life insurance a good way to leave an inheritance? I would actually suggest that it's a great way to leave an inheritance because leaving an inheritance of money is one thing, especially when it's income tax free. But leaving an inheritance of values, an inheritance of knowledge of what to do with that money, an inheritance of stewardship on how to keep that money exactly where it belongs, which is in the family and not on the books of someone else's bank. This tool, high cash value life insurance, is just that, it's a tool. And if you put that tool in the hands of someone who's never been taught how to use it, not only are they not going to turn out any good work with that tool, they're going to break the darn tool. And so having high cash value life insurance is one thing, having a great coach, a competent practitioner who can counsel you and help you to best utilize it, and also help you to best transfer the knowledge and the stewardship and the values to your family, who's going to be left behind with a significant windfall of tax free money. My goodness, this is the very best tool to get that job done, bar none.
