Richard Canfield explains that the death benefit is the primary driver of cash value growth in life insurance. He recommends increasing the death benefit to build cash value while maintaining family protection.
What people don't really realize is what we wrote about in our book, which is cash fall as a leader and that the thing that actually makes the cash value grow is the death benefit.
That's right.
Reality is you actually want to continue increasing it to create cash value. So Nelson was trying to reference something very specific and one thing that he wasn't referencing was the fact that you still need to make sure your family is protected.
We're talking about someone, a family who wants to implement a process. But we're also talking about the necessity for death benefit and the way the policy is engineered and all of that. There's this back and forth, a lot of this noise that goes on out there in conversation about what's right versus what is wrong. And Nelson would often say that it's not that you're right and I'm wrong, it's just that we think differently and there's a big, big difference.