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BetterWealth with Caleb Guilliams
The Complete Guide to Overfunded Whole Life Insurance | Garrett Gunderson
Aug 24, 2023
Garrett Gunderson, New York Times bestselling author, joins BetterWealth to discuss overfunded whole life insurance, comparing it to other insurance options and financial instruments. They dive into the benefits of saving money, choosing the right insurance company, exploring various financial options, and utilizing life insurance for compounding and control. They also explore the advantages of owning a cabin, and ultimately delve into the benefits of overfunded whole life insurance, highlighting its ability to enhance assets and aid in estate planning.
01:00:43
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Quick takeaways
- Life insurance provides stability, availability, and tax advantages, making it a favorable savings vehicle for those looking to save without market risks.
- Life insurance serves as a foundational asset for entrepreneurs and investors, offering stability, risk-free capital, and various benefits like mortality hedging and interest rate hedging.
Deep dives
Understanding the Philosophy and Profitability of Life Insurance
Life insurance can be seen as a profitable investment in its term insurance portfolio. The frustration lies in selling index universal life (IUL) policies for income, which involves overfunding and minimizing insurance coverage. However, life insurance should not be solely viewed as an investment but rather as a short to medium-term cash storage for opportunities. Unlike other investment options, life insurance offers stability, availability, and tax advantages, making it a favorable savings vehicle for those looking to save without the risks of the market or other investment avenues.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode