Whole Life Insurance and How Your Cash Value Grows - Episode 162

Summary:

Best selling author Kim Butler and co-host No B.S. Money Guy Todd Strobel talk about how your cash value life insurance grows and how to get an accurate long term view by comparing it to bank rates.

Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode.

 

Links in this Episode:

Get the free ebook and audiobook - Financial Planning has FAILED

Submit your questions hello@partners4prosperity.com

Kim’s latest book Busting The Life Insurance Lies

Quick read Live Your Life Insurance

Free financial calculators at Truth Concepts

 

Show Notes:

00:00 Introduction

00:28 Today’s topic: Whole Life Insurance and How Your Cash Value Grows

01:06 The whole life cash value is the perfect emergency fund

02:36 Kim’s newest book Busting The Life Insurance Lies talks about calculating internal rate of return on page 228 in the book

05:25 If you look at whole life companies website you’ll see a gross dividend around 6% which is irrelevant because fees are not factored in

07:39 Your cash value should be looked at when viewed over time, not 5 to 7 years

09:00 The rule of thumb is cash value whole life insurance grows at 2-3 points above bank rates

10:05 What happens when interest rates come up on CD’s?

10:46 When purchasing life insurance you’re purchasing an asset

12:25 Books: Live Your Life Insurance and Busting The Life Insurance Lies to learn more

13:30 Financial calculators at Truth Concepts