The Prosperity Podcast Why Use Life Insurance in 2023? - Episode 497
Whole life is an insurance product that is designed to help families build and store emergency opportunity money. Although it is oftentimes a misunderstood space in personal finance, it is the most valuable tool for building liquid emergency money.
In this episode, Spencer Shaw and Kim Butler discuss the reasons why whole life insurance is a better investment than other options like savings accounts or CDs. They mention that the monthly premium forces you to save, the life policy earns a higher rate of return, and the growth is not taxed. They also talk about how this investment is long-term and can be passed down to future generations.
Spencer and Kim also talk about the advantages of life insurance as an investment. They explain that the industry is regulated by the state, rather than the federal government and that this makes it more trustworthy. They also explain that life insurance companies are mutual companies, meaning that they are owned by their policyholders and that this gives them more control over their own destinies.
Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers thinking and strategies today!
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Show Notes
- The big WHY: Why should you start whole life insurance?
- What is liquid money?
- The importance of life insurance
- Why whole life insurance is the best way to build wealth
- Benefits of life insurance
- Why the life insurance industry matters
- Working with a mutual life insurance company
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