Life insurance serves as the gateway to financial solutions for the financially astute. Beyond its primary purpose of providing financial protection for loved ones in the event of the policyholder's death, life insurance offers a multitude of benefits that can significantly impact one's financial well-being. For the financially savvy individual, life insurance policies can serve as a versatile tool for wealth accumulation, retirement planning, estate preservation, and tax efficiency.

With various types of life insurance policies available, including term life, whole life, and indexed universal life, individuals can tailor their coverage to align with their specific financial goals and objectives. Moreover, life insurance policies often offer additional features such as cash value accumulation, dividend payments, and flexible premium payment options, providing policyholders with the opportunity to build long-term financial security and stability. 

Myth: I don’t need life insurance yet. 

Fact: It’s advantageous to secure life insurance as soon as possible.

Here are 7 key considerations:

Insurability

As you grow older and develop more health conditions, it’s tougher to gain approval. Get life insurance while it’s easy and lock in coverage for up to 40 years!

Flexibility: What if you want to switch jobs or go into business for yourself? When you have a policy that isn’t tied to your work, your options are not limited.

Family: Life insurance enables you to provide for a spouse, children, or other loved ones if you pass unexpectedly.

Debt: Life insurance can cover any debts like your mortgage. This is especially important if loved ones cosigned loans with you. Final expenses. Life insurance can cover funeral expenses and debts so your loved ones don’t have to shoulder the burden.

Legacy: Life insurance provides a tax-friendly way to pass wealth to children or other loved ones, changing a family’s financial trajectory. 

Health: If you are ever diagnosed with a terminal illness, an Accelerated Death Benefit Rider can advance a portion of your death benefit to help cover costs.

Value: Today, you may qualify for the lowest rates of your life, and you can lock them in for up to 40 years – providing coverage throughout your working life. 

In the United States, the concept of "tax pyramiding" illustrates how a single dollar can undergo multiple taxation occurrences as it circulates within the economy. Essentially, this means that the same dollar is subject to taxation at various stages of its utilization.

First of course, you have to earn that dollar. If you get it as wages, there’s Income Tax and FICA that gets taxed on it. If you get it as capital gains (buy stock for $50 sell at $51) the tax hits you that way. Some states have income taxes, and so do some cities, so if you live in, say, New York, you can get taxed four times before you even see what started as a dollar.

Next you may plan to spend that dollar. If you use it to buy things, there’s sales tax, gas gets taxed if you use it for that, and of course if you use it for your phone or internet, there’s both sales tax and fees on that. So spending your money can hit you a couple more times.

So, even at the basic level you can be taxed up to six times on a dollar earned and spent the normal way.

But you can’t complain about your taxes. That would probably get you fined.

This is how many American unknowingly pay as much as 50% in taxes!

1. Income Tax: Uncle Sam takes a slice of your paycheck right off the bat. Depending on how much you make, you could be shelling out anywhere from 10% to 37%.

2. Payroll Tax: If you're on the clock, part of your pay goes toward stuff like Social Security and Medicare. That's 6.2% for Social Security and 1.45% for Medicare, with your boss kicking in the same amount.

3. Sales Tax: When you splash your cash on stuff, don't forget about sales tax. It varies by state and city but can reach up to 10% in some places.

4. Property Tax: Own a pad? You'll likely be ponying up for property tax based on its value and where it's located.

5. Capital Gains Tax: Make some money off your investments? The taxman wants a cut, anywhere from 0% to 20% depending on what you're cashing in and how long you've held onto it.

6. Estate Tax: Even after you're gone, your estate might get taxed if it's worth a bundle, with rates climbing as high as 40%.

YOU WILL NEVER BE FINANCIALLY FREE UNLESS YOU MINIMIZE YOUR TAX IMPRINT.

"Everybody in our office is paying a higher tax rate than Warren" - says the secretary of world renowned business mogul, Warren Buffet. How could this happen? Donald Trump said it simple, "Because I'm smart."

Trump, who faced accusations of not paying taxes, retorted, "That's because I'm smart" explaining that he utilizes tax laws to his advantage as they're designed.

THE QUESTION IS:

Why should these laws only apply to ​billionaires like Buffett or Trump?

THE TRUTH IS:

Although these secrets have been well ​guarded for decades, anyone can access ​the benefits of the law when they know ​the language.

Life Insurance is the first word in ​your new vocabulary.

By leveraging the benefits of life insurance, financially astute individuals can safeguard their loved ones' futures while simultaneously enhancing their own financial prospects.

life insurance solutions:

Term Life

Term life insurance is an affordable policy that can protect your loved ones should something happen to you. Available 100% online or through an agent, term life insurance gives you the option to select your own term length and coverage amount, depending on your unique financial needs.

Mortgage Protection

As a homeowner, you probably have homeowners insurance, which protects your home and property from accidents and damage. But what about the people living in your home? Mortgage protection insurance covers your mortgage payments if you’re unable to pay the bills due to disability, critical illness or death and allows your loved ones to stay in their home.

Debt Free Life ®

Debt Free Life ® is a modern way to pay off your debt using the cash value of a specialized whole life insurance policy. Using our exclusive software, your certified Debt Free Life ® consultant will generate a personalized debt elimination report showing you how and when to pay off each debt and the projected amount of interest you’ll save, all without spending any additional money each month.

Annuity

Our Deferred Annuities accumulate money over a period of years (the "accumulation phase") by either making an initial deposit and watching it grow, or by making periodic deposits over time. Funds invested in retirement annuities grow tax-deferred. When you're ready to start drawing on your annuity, you "annuitize" the contract and turn it into an income stream so you receive a series of regular payments each month, quarter, or year.

Wealth Building Solutions

Indexed Universal Life (IUL) insurance offers a unique blend of financial security and compound growth, making it an attractive option for long-term financial planning and lifetime retirement income. Policyholders are offered the dual advantages of life insurance coverage and tax-free cash value accumulation.

In most cases, you can get approved almost immediately. Most policies are simplified issue, meaning that underwriting is automatic, and you won’t have to undergo a medical exam to qualify. If you are applying for a policy that requires a medical exam, it usually takes from three to eight weeks for the insurance company to review your application.

Like health insurance, having a pre-existing condition doesn’t necessarily mean you cannot get life insurance, but you might pay higher premiums for coverage. When you apply for life insurance, you will be asked a series of questions about your health, age, and lifestyle. We recommend connecting with a licensed agent who can shop for policies on your behalf. 

While we aim to empower each individual with the financial knowledge to be self sufficient in a chaotic world, consulting with a financial advisor or business expert is recommended to ensure your policy is structured properly and the right decisions are made for your specific situation.

Our licensed agents are extremely knowledgeable and can evaluate which insurance companies would be likely to approve your application, providing recommendations for you based on your budget. Get a good overview with a licensed agent who can provide expert advice and guidance to help you find the perfect strategy. 

Fill out this short 2-minute questionnaire to speak with an agent about developing a personalized plan based on your needs, goals, and financial situation.