https://www.youtube .com/watch?v=ZFLAsu97C9M
Get Term Life Insurance HERE: https://whiteboardfinance.com/go/havenlife In this video I will breakdown Term Life Insurance vs. Whole Life Insurance, to give you an idea of which is best for you. Life insurance is one of those necessary things in life, because life happens! It’s better to have life insurance and not need it, than need it and not have it. The fact is, we all eventually need life insurance and this video will hopefully help you decide which is best for you. Term life insurance provides coverage for a specific amount of time (usually 20-30 yrs). If you or your spouse passes away during this time, your beneficiaries will receive a payout from the policy. Term life is much more affordable than whole life. Typically this works out to be $7 per month in 20 yr term, vs $100 with whole life cash value. Term life has no cash value until the death occurs, so it’s not worth anything until you need it, which is fine. Whole life is a form of permanent life insurance with 3 components: 1. Premiums 2. Death Benefits 3. Cash Value Accumulation (savings aspect) When you pay your premium a portion is applied to the death benefit and cash value. The first 5-10 years a majority is applied to the death benefits (cost of insurance) along with fees and commissions. After this, the cash value will receive a great portion of the premium Beneficiaries are only entitled to receive the death benefit portion of the policy when you die!! You have no choice in how the life insurance company applies the premium you pay. You can cash in or surrender your policy at any time to get your money out, but you lose the insurance! Get Term Life Insurance HERE: https://whiteboardfinance.com/go/havenlife Instrumental Produced By Chuki: http://www.youtube.com/user/CHUKImusic ABOUT ME 👇 My mission is to provide my viewers with actionable content that enables them to create financial wealth. My videos are a reflection of my real-world experience as a real estate investor, stock market investor, student of finance, and entrepreneur. This channel allows me to share my passion for personal finance, stock market investing, real estate investing, and entrepreneurship. I produce content that I would want to watch, and because of that, I give 100% effort in every video that I make. I also believe in complete transparency and open communication with my audience. Subscribe if you are interested in: #Investing #PersonalFinance #Entrepreneurship #StockMarket DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments. AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion.
*Get Term Life Insurance HERE:* https://whiteboardfinance.com/go/havenlife
@Shayna Lusk that is too high.
@Shayna Lusk it is how your policy was designed and structured, maximizing the cash value using blended term, ask your advisor
@Shayna Lusk that is too much if you are 27
Marko, i have not heard much about Haven Life, are they 100% online if we have question or need help do they have live person to chat and talk to? do they require us to do health screening? are you using Haven life?
What do you mean you can pay off your debts with the term life
What is the different between these and indexed universal life insurance?
IULs are worse than whole life. In an indexed universal policy, you are charged for having a term policy (death benefit) as well as a cash value benefit. Hence, the insurance company takes your cash value and “invests” it to mirror the index funds of the stock market. Keep in mind, it’s NOT invested in the stock market. Here are the problems: Every month, you are charged a fee/commission to manage your account/cash value. Your gains are capped that limit yours “investments.” Your ever increasing term policy goes up every year because of your age which will cause the insurance company to take money out of your cash value to cover the costs. Thus, you now have to pay out of pocket to cover your term policy because the insurance company eats most of your cash value to fund said death benefit and to pay themselves “fees.” Here’s the kicker, unless you have a “Plan B” rider that is an additional cost, when you die, the insurance company KEEPS your cash value and only pays out the death benefit. Scam.
This is why I’m subscribed 💪 Preciate you bro
You don’t lose your cash value if you borrow against it
Either you’re lying or stupid. What part of “The insurance company keeps your cash value” do you not understand?
Investing in crypto currency is the best investment anyone can do This season because it has made a lot of people millionaires. I pray that anyone who reads this will be successful in life
Crypto is the new gold
Making them to remain poor out of ignorance
I have been surviving through my investment with him, am so glad I invested when I did. cause I’m earned close to $110,000 US dollar
All thanks to my friends who introduced him to me.
Crypto Currency = Digital Beanie Babies. Look at it tanking in the stock market since last year. Garbage.
Loved your video sir thank you much for explaining it so well
Good life
Ive been schooled!!! This lesson was easy to understand !!!! ❤️
Thank you for explaining. Question how can we run our own whole life insurance? Because I seen a lot of TikTok’s saying open your own. How you do that?
You only need to buy term. Stay away from whole life insurance. See video.
you make so much sense explaining everything, you are a perfect teacher literally.
Then why does whole even exist?
Some billionaires use it to pass assets along to heirs, but not for investing. Also banks buy whole life insurance (BOLIs) to fund employee compensation programs, again, not for investing.
Wtf.
need a deeper dive on how term helps pay off debt. i did not grasp that
It doesn’t Much like car insurance policies, you only paying for the insurance. Got it?
@astroman30 got it, so what he was saying was kinda bs?
@Matthew Aron No…the gentleman in the video is 100% correct. Term insurance (which is all you need) only pays for the insurance. Whole life insurance (which is a scam) charges you 20 times more in premiums mostly because of this nonsense within it called “cash value.” Hence, you just want term insurance and invest the difference.
Yo… this is the first commercial/sponsored ad from a YouTuber that I actually literally enjoyed.
This was very helpful!! Thank you so much. I almost purchased whole life insurance but now feel like I avoided a scam and will not be purchasing from them. Your video was very informative and easy to understand.
😩12:36…I feel bad enough as it is , I don’t know why I still come back to this video so you could laugh in my face😂
Maaaann, you have made this soooooo simple to understand. THANK YOU!!
*Awesome!!!! your potential seems limitless.* I have always been fascinated by investing, but without any knowledge on what’s best to invest in, I find it difficult to begin. *I ask politely, what’s the best sector to invest in?*
@Emerson Hoffmann I’m very interested and need to start now. If you don’t mind how can I get in touch with your financial consultant?
@Mitchell Ayla I work with an Investment Analyst *(Donald Nathan Scott).* Quickly do an internet research with his full names as mentioned where you can easily get in touch and as well write him.
Glad I stumbled upon this, my wife and I invests with Donald. We knew how to make a living but never had any knowledge of how to grow our money. Thanks to Donald, we are living off our investment and happily retired with a good stream of income.
YouTube has been helpful to many in making financial decisions but it’s not enough as most people don’t understand just by watching tutorials. Its advisable to work with a Financial Consultant with high-level investment experience for positive results.
The journey to financial independence begins with a step, I realized this working with Donald Nathan Scott. I encountered and operated with him since 2016 and his professionalism have been the best for my finances . Now I’ve acquire a passive income stream which makes life feels easy.
Thanks all the f&@k are scan if I save $100 a month x 20 year = 24,000 that cover any funeral not bs thanks Marlon 😎😎😎
Tnk u