Wall Street is a Casino and They Are Gambling with Your Money

Wall Street is a Casino and they are Gambling with Your Money 

Asset managers and the big banks on Wall Street speculate and make bets with other people's money. Not only do banks run their business like casinos, they actually own, operate and finance gambling establishments. 

Derivatives are unregulated bets and expose investors to unforeseen risk. Credit default swaps are derivatives that were in part blamed for our current economic recession, yet the gambling goes on. 

401(k) participants, mutual fund holders and retail investors are unknowing participants in the derivatives markets as asset managers speculate with currency derivatives, interest rate derivatives, credit derivatives and equity derivatives. The total derivatives market is estimated to be a QUADRILLION dollars.

Hypocritically, all of the major banks hold their Tier 1 capital, their most important asset, in permanent life insurance called BOLI. Even the FDIC recommends that banks hold their assets there. That's right, while the big banks and asset managers encourage you to gamble, they play it safe by owning cash-value life insurance. 

Why gamble with your money? Turn the tables on the Wall Street Fat Cats and take control of your finances. You can own a safe asset that provides you with protection, savings, growth and banking features.

Are you sick and tired of seeing the Wall Street mobsters gamble with your money? Are you ready to tell the big banks and Wall Street good bye? Discover how you can free yourself from the corrupt system where the odds are clearly stacked against you.

Request a meeting and learn how you can fire your banker. You can bypass the Wall Street Casinos and take back control of your financial future when you learn how to Become Your Own Banker. Follow this link: http://legacyinsuranceagency.com/infinitebanking/ibc-meeting 

Until next time,
Barry Page

Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com

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You can also learn more by visiting our other websites and blogs:
Shield Financial Consulting www.shieldfinancial.com Family Bank Business www.familybankbusiness.com

Barry Page, RFC is recognized as a leading expert on finance, life insurance and private banking. He is a financial consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the United States.


Contact me today by following this link: http://legacyinsuranceagency.com/contact 

Brace Yourself for Financial Armageddon

Brace Yourself for Financial Armageddon
How To Protect Your Family, Home and Future  

For the past year or so I've been relatively quiet compared to my emotions about the state of our financial markets. From my perspective I want to share with you what I know, but on the other hand I risk the chance of sounding negative. I can't stand aside quietly anymore, brace yourself for financial armageddon!

Ezekiel 33:6 - But if the watchman see the sword come, and blow not the trumpet, and the people be not warned; if the sword come, and take any person from among them, he is taken away in his iniquity; but his blood will I require at the watchman's hand.

The evidence is everywhere and even the media are getting nervous as the financial gurus predict economic collapse.

Jim Cramer, a former hedge fund manager and host of CNBC’s Mad Money, declared on Meet the Press with David Gregory, “I’m predicting bank runs in Spain and Italy within the next few weeks.  Without a coordinated policy, there is going to be financial anarchy in Europe and it's going to cause a slowdown worldwide, China and here.”

Even members of the Federal Reserve itself are speaking out. In a recent news story with Reuters, Richard Fisher, President of the Dallas Federal Reserve, said "We ... know that monetary policy is necessary but not sufficient to achieve full employment because it's also a function of fiscal policy. And there lies the problem."
http://www.reuters.com/article/2013/03/26/emirates-fed-fisher-bonds-idUSL5N0CI0F820130326 

Well known financial analysts who predicted the last crash are giving their warnings. Jim Rogers is prediciting a major crash ahead for U.S. investors. "I don't trust the data from any government, including the U.S.", Rogers said. "We know that governments lie to us. Everybody's printing money, but it cannot go on. This is all artificial."
http://moneymorning.com/ob-article/jim-rogers-major-crash-ahead.php?

Harry Dent Predicts Global Economic Crash in 2013 on CNBC. "We are primed for a crisis... It's not anything that should be unexpected." A market crash is coming in 2013 or 2014, Dent warned in an article in USA Today. “This will be a repeat of 2008-09, only bigger, when it finally hits... Get out of the way.” 

Peter Schiff has constantly reminded the public of dangers that lie ahead. Schiff also points out specific ways that they can profit from economic collapse by investing in gold and silver and has even written a book, Crash Proof.

Alex Jones says Financial Armageddon has already started. He warns us against the EU and IMF in this video: http://youtu.be/ho41rbmusko

Even others will profit from the major losses that others will take. George Soros is said to have made $1 Billion just since November betting against the Yen, according to Bloomberg. 

How will the chaos happening in Europe effect the United States? The Cyprus government has agreed to a bailout deal with international creditors. It will receive 10 Billion Euros, (about $13 Billion) from Troika lenders, a group comprised of the International Monetary Fund (IMF), the European Central Bank and the European Commission. 

European bailouts will mean American taxpayers will fund a major portion of them. The Federal Reserve provides 20% of the money for the IMF, and they are the entity that will lend the money. The bailout will be used to pay save the banks and the taxpayers will absorb the losses. 

Enough bad news, or shall we call it reality news, what can we do protect ourselves from loss? While taking this all in, think about your family and what is absolutely most important to you. If something bad happens, what do you want to happen? In order to survive, you need a plan.

Psalm 49:10 - For he seeth that wise men die, likewise the fool and the brutish person PERISH, and leave their wealth to others. 

What You Can Do Now To Protect Your Home and Future?

1. Have an Emergency Plan - The best thing is to have multiple plans, a plan B and C.  Do you have your relatives most recent contact information handy? Could you provide space or bunk with them in case of an emergency? Do you own a tent and sleeping bags if you had to rough it outside?  If the day comes and you have to leave for somewhere, where would that be?  You need to have an emergency plan.

2. Protect Your Valuables – Secure your home and always lock your doors and windows. Safeguard your valuables by being discreet and not leaving valuables in plain sight. Consider owning a gun for protection. 

3. Stockpile Food and Plant a Garden - Stock up on clean drinking water and essentials, including  non-perishable foods. In times of emergency you may find that water purification tablets come in handy. Food will become one of the most valuable commodities in existence in the event of an economic collapse.  If you do not have food you will not survive. Now is the time to buy seeds, before the mad rush. Take the time to prepare your soil and learn how to plant a vegetable garden. 

4. Remain Liquid and In Control of Your Money - You may be surprised that your money is not completely safe in the bank. It’s a good idea to keep an emergency fund close to home, preferably protected in a safe. You’ll want to spend less, save more, and curb investing in speculative products or buying anything that isn't necessary.

5. Spend Time With Your Family - Eat meals together as a family. Research shows that family meals produce positive kids. Pray Together. Our country was founded on faith and we need it now more than ever.

Saving money is what built this country. While the media and financial pundits will tell you that saving is a bad thing in tough times, and would suggest that "now" is the time to invest, having liquidity and access to capital when you need it will always put you in a favorable position. In uncertain times with markets and banks teetering on collapse, safety and liquidity are key to surviving.

You can protect your family and your wealth by creating a system of finance that is independent of traditional banking models. By utilizing a little known financial tool that out dates the Federal Reserve and the Internal Revenue Service, you can virtually become your own banker. This tool is called dividend paying, whole-life insurance. And, even though you may have been told by my the media and entertainers, parading as financial gurus, that whole-life insurance is a bad place to put your money... they are wrong!

Life insurance has survived depressions and recessions and has been around for centuries. While stock markets have remained volatile, owners of this centuries old financial tool have been able to rest easy and prosper. When properly administered, permanent life insurance from a mutual company, can be used to create your own family banking system that can live on for generations. You can learn more about family banking here: http://familybankbusiness.com

You may also want to consider keeping a portion of your portfolio in precious metals, not as an investment, but as a form of insurance. Historically, precious metals have served as a store of wealth and have long been prized as the only truly reliable hedge against inflation. As tangible commodities with intrinsic value, they offer distinct advantages over stocks, bonds and other paper assets. While the value of stocks can decline absolutely, precious metals such as gold, silver, palladium and platinum always retain a value, regardless of market conditions. Even when compared to other hard assets, such as real estate or fine works of art, precious metals 
compare favorably based on their high degree of liquidity and portability. Learn more about precious metals and how you can own them here: http://www.shieldfinancial.com 

In closing, I'm urging you to take the steps necessary to protect your family, home and future. Burying your head in the sand could result in the demise for your family. And, all that you have worked all of your life for could be gone. The government will not save you. Take action now!

Until next time,
Barry Page
Legacy Insurance Agency, PLLC
www.legacyinsuranceagency.com
Shield Financial Consulting
www.shieldfinancial.com 
Family Bank Business
www.familybankbusiness.com

Barry Page is recognized as a leading expert on finance, life insurance and private banking. He is a financial consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning. 

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the United States.

5 Ways to Use Your Life Insurance While You’re Alive

5 Ways to Use Your Life Insurance While You’re Alive
How to finance all of your purchases through you’re own bank

How would you like to use your life insurance while you’re alive? What if you could finance all of your major purchases through your own bank, just as you would with a traditional bank? You can! I’ve put together a list of my top 5 favorite uses of life insurance that you can start using today.

Because of misinformation in the marketplace, most people believe that they should own the cheapest life insurance available. If you follow this advice, you will miss out on life insurance’s most valuable uses. Term insurance provides a death benefit to your heirs, but what about you? If setup correctly, one of the benefits of permanent life insurance is that it allows tax free access to capital while you’re alive. So, if you understand how it works, you are better off owning the most expensive life insurance available. In other words, typically the more you put in, the more benefits you will enjoy.

When you think about it there are 3 to 5 major expenditures that most people make over their lifetimes. So, I thought I would show you how you can take these 5 expenditures and finance them through your life insurance policies. Yes, you may want multiple policies.

1. Automobile Purchases

2. Business Equipment

3. Family Home

4. College Education

5. Funding Retirement

1. Automobile Purchases
Most of us drive and purchase new cars every 4-5 years. Let’s take an automobile that would cost say $30,000 and finance it for 48 months at 6% interest and include an inflation rate of 3% and taxes of 10%. If you traded the cars in, over the course of your lifetime (48 years/12 cars), your adjusted cost after trade and sales tax would be $85,275. However, the lost opportunity costs, had you been able to earn 6% interest on that same money, would be $343,405! What if you could finance all of your automobile purchases through your policy and recapture the costs? You can!

2. Business Equipment
If you plan to start or grow any business venture, you will need access to capital and business equipment. What if you could finance the equipment yourself and/or start your own leasing company without depending on traditional banks? You can! You may also be able to take additional tax benefits when paying interest.

3. Family Home
Assuming your family is growing are you decide to purchase a second home, what if you could finance it through your life policy? You can! All you have to do is capitalize the policy and purchase the home outright through your policy or start paying your traditional mortgage off early using your policy as your own bank.

4. College Education
Without a doubt, funding a child’s college education is one of the main concerns of parents today. While college tuition costs are outpacing inflation, most college savings plans have lost money. What if you could pay for your child’s college and recapture the money to use for your retirement? You can!

5. Funding Retirement
If you ask retirees today what their biggest concern is, most will answer outliving their money. When depending on government programs and a pension, this can be a problem. Maybe that’s why this demographic is one of the largest purchasers of permanent life insurance today. What if you could supplement or fund your retirement completely using your life insurance policy? You can! Having a permanent life policy at retirement allows you to spend your other assets down completely, without the concern of running out of money or leaving your heirs with nothing. And, retirees will appreciate the ability to have access to capital for business ventures and long term care if needed.

So, there you have it, 5 ways to use your life insurance while you’re alive! But, don’t take my word for it, ask any of the hundreds of thousand of Americans who are enjoying the benefits of owning permanent life insurance. The naysayers don't own permanent life insurance and don't know.

You owe to yourself and your family to explore permanent life insurance. You don’t have to get caught up in all the hype of Wall Street, or the misinformation from the media and so called, "financial gurus". And, you don’t have to take unnecessary risks with your money. Life insurance has been around for hundreds of years and has proven to be sound and stable. Maybe that’s why banks own it as their tier 1 capital.

I’d like to recommend a book for you to read, Becoming Your Own Banker by R. Nelson Nash. This book outlines exactly how you can utilize life insurance to finance all of your purchases over your lifetime. If you practice the principles outlined in this book, it will literally change your and your family’s lives forever. You can learn more about the Infinite Banking Concept and purchase the book at http://www.infinitebanking.org/

Free yourself from financial slavery and stop depending on the government and financial institutions. You’ll be glad you did.

Until next time,
Barry Page, RFC
http://legacyinsuranceagency.com/

Barry Page, RFC is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.

His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protects their savings, but also provide tax advantages. His business is based in Ocean Springs, Mississippi and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

Are You Tired of the Market Roller Coaster? Here's What To Do

Discover the Alternative To Traditional Investing

While the market goes up and goes down, you don't have to. You can get off of the roller coaster and discover the alternative to traditional investing.

There really is a better way... and it won't keep you up at night.

You’ve probably heard that life insurance is a bad investment. And, that you should buy the cheapest term insurance available. Well something else that you’ve probably heard is “you get what you pay for.”

YES! You can protect your hard earned money and build wealth using tried and true, dividend paying, life insurance.

While the investment firms and banks want you to believe that the stock market is the ONLY way to invest and make money, they too own life insurance.

BOLI is the name for Bank Owned Life Insurance, and if you'll do your research you'll find that all of the major banks own lots of it. As a matter of fact the FDIC (Federal Deposit Insurance Corporation) actually encourages banks to own life insurance: http://www.fdic.gov/news/news/financial/2004/fil12704.html

Total BOLI Assets (in billions)
Held by Bank Holding Companies in 2007
BHCS BY ASSET SIZE 2007 2006 Change
Over $10 billion $ 104.63 $ 88.59 18.1%
$1B - $10 billion $ 9.89 $ 9.55 3.6%
$500M - $1 billion $ 3.03 $ 2.86 4.5%
All $ 117.55 $ 101.00 16.4%
*Source: Michael White-MullinTBG BOLI Holdings Report - 2008 edition

BANKS THAT OWN BOLI State BOLI
Bank of America NC $ 13,883,173
Wachovia NC $ 12,874,000

JP Morgan Chase OH $ 7,181,000

Citibank NV $ 3,281,000
Regions Bank AL $ 1,253,146
Bancorp South MS $ 168,005
*Partial list compiled from: The Pirates of Manhattan

If permanent life insurance is such a bad investment, why do you think banks own so much? And, if you listen to who is saying “buy term” it’s usually the banks and Wall Street. Why? Because they are now selling term insurance and it is the MOST Profitable for them, and of course they want to sell you their mutual funds. Mutual fund managers rake in hundreds of millions of dollars every year, while you take the risk and whether or not they make money or not.

So, why do they tell you to "buy term and invest the difference", while they do just the opposite? Well, that's how they make their money, even if you LOSE... That's right, they make money even when they lose your money. They tell you to buy while the market is down, and to "dollar cost average", what a bunch of crap! Yet, they still won't you to bail them out!

Have you ever considered your what YOUR LIFE is worth to YOUR FAMILY? This is your Economic or Human Life Value. Winston Churchill said this about using life insurance to protect the economic value of a human life:
“If I had my way I would write the word insurance over the door of every house because I am convinced that for the sacrifices which are considerably small, families can be secured against catastrophes which would otherwise smash them up forever.”

The political commentator, humorist and international celebrity Will Rogers said this:
“A man who dies without adequate life insurance should have to come back and see the mess he created.” Rogers later died, in 1935, in a plane crash in Barrow, Alaska—and life insurance benefits were one of his estate’s largest and most important assets.

You too can enjoy the many benefits of life insurance while protecting your family. Here's a partial list of what life insurance can do for you:

• It takes care of your family if you die too soon.
• It takes care of you if you live too long.
• It is self-completing if you become permanently disabled.
• The waiver of premium guarantees the premiums are paid.
• It can have catastrophic benefits if you have cancer, heart attack or stroke, to help even if you don’t die.
• It can have terminal illness benefits that will pay when you are diagnosed, allowing you to put things in order before you die.
• It can provide long-term care benefits, drawing from your cash-value.

And, if that isn't enough to get your attention, then you may want to learn about the banking benefits of dividend paying, cash-value life insurance. The Infinite Banking Concept is a way to recapture the interest that you pay to others and put it back into your "bank". You can learn more and order the book Becoming Your Own Banker here: http://legacyinsuranceagency.com/byob

So, get off the roller coaster and stop risking your wealth. You don't have to get out of the market, but you may want to diversify with some safe alternatives like annuities and life insurance. Download a Free Report: http://legacyinsuranceagency.com/alternative

Until next time,
Barry page, RFC

Barry Page is recognized as a leading expert on life insurance and private banking. He is a Registered Financial Consultant and independent life insurance agent who helps clients with tax advantaged investment alternatives. He specializes in showing families how to protect their assets, income and lives utilizing a macro-financial approach to planning.
He has created a service that caters to families and business owners that are frustrated with the risks involved with the stock market, but still want competitive returns. His specialized knowledge and services help consumers find alternatives to traditional investing and the stock market that not only safely protect their savings, but also provide tax advantages.

His business is based in Ocean Springs, MS and he services clients throughout the Southeast. He can be reached here: http://legacyinsuranceagency.com/contact.html

The TRUTH about Fractional Reserve Lending and The Federal Reserve

Fractional reserve lending is a practice created by the Federal Reserve that allows banks to lend money based on a fraction of the deposits they hold in reserves. Ironically, the majority of banks hold their Tier 1 Capital (reserves they can't afford to lose) in permanent life insurance, but they won't tell you that.

Watch this video as Ron Paul tries to get Ben Bernanke to talk about transparency of The Federal Reserve. And, after all is said Barney Frank steps in and says we should certainly look into what Reagan and Nixon did… http://www.youtube.com/watch?v=5gH2U1ly_aM

Currently, Bernanke is trying to end minimum fractional reserve lending for banks, meaning they would have NO LIMITS on lending! At the present time, banks may not create any more than $9 in additional loans for each $1 they hold in reserve. However, Federal Reserve Chairman Bernanke suggests that this may be changed to ANY amount in loans REGARDLESS of what is held in reserve. If this happens, fractional-reserve banking will become zero-reserve banking, and hyperinflation will occur.

All of this was predicted in The Creature From Jekyll Island: http://legacyinsuranceagency.com/creature.html

Meanwhile, China is raising their fractional reserve limits: http://www.worldmarketmedia.com/970/section.aspx/916/china-to-raise-reserve-requirement-ratioagain

If you are concerned about your family's financial future, this is all the more reason for you to create a system of finance that is not dependent on banks or the government. Learn how: http://legacyinsuranceagency.com/IBC/theinfinitebankingconcept.html

Until next time,
Barry Page, RFC

Barry Page is a Registered Financial Consultant and helps families to live debt free and create generational wealth. He publishes multiple websites and blogs including this one, and can be reached at http://legacyinsuranceagency.com/contact.html

8 Scary Truths About Your IRA

8 Scary Truths About Your Qualified Plan (IRA)
And, How To Avoid Being Taxed to Death!

If you are pondering the thought of contributing more than your match to your 401k or whether or not to make an end of year contribution to your IRA, THINK AGAIN!

Before you put another dime into your 401k, 403b, TSP, SEP or other IRA you need to know what the government and your employer aren’t telling you. And, the truth may scare you!

Here are the scary facts about qualified plans that you’ll want to know.

SCARY TRUTH #1:
While many people think their Qualified Plans, that’s your 401k, 403b, TSP, SEP or IRA, save taxes; they don’t.
They do 2 things:
1. They defer tax
2. They defer the tax calculation

SCARY TRUTH #2:
Your employer may be making decisions about how your 401k is managed, without your knowledge. More and more employers are now automatically directing more of their employee’s pay into their 401k, and often it is into more risky investments; even though you may have previously chosen your own investments. Much of the money is being re-directed into “target-date” mutual funds, These funds lost so much money last year, that lawmakers and regulators are now analyzing and scrutinizing their actions. Morningstar reported that many that were at or near retirement with these type funds, suffered losses of 32 to 41 percent.

Even scarier, the fees charged on target-date funds are “significantly higher than those charged by other funds on plans’ investment menus” according to MoneyCentral.msn.com on October 10, 2009.

In comparison, the growth in a properly funded permanent life contract is both guaranteed and exponential. You can also predict the minimum guaranteed value of the plan, the minimum guaranteed income you can take from the policy, and how long you could take the withdrawal.

SCARY TRUTH #3:
Many of the important decisions about your employer sponsored IRA (401k, 403b, TSP, etc) may be made by people who may have No Training or education.

According to the November, 2009 issue of SmartMoney Magazine (“The Accidental 401k Planner”), as many as 90% of the country’s employees’ 401k plans are watched over by people who “need no special qualifications and no investing expertise or experience”. Many managers hire brokers to suggest mutual funds, and brokers are not legally required to choose funds with low fees, so the outcome could cost you tens of thousands of dollars over your lifetime.

SCARY TRUTH #4:
The true impact on your wealth from 401k hidden fees is ENORMOUS! While you may be aware of some charges, many fees are not required to be disclosed to you in the 401k or mutual fund prospectus.

And, even scarier, according to a 60 Minutes report, “401k Recession”, over your working career, this can result in your losing up to half of your nest egg!

By utilizing the Infinite Banking Concept™, you can kiss hidden fees goodbye. All costs are already included in the premium, and by properly funding a participateing whole-life policy, you will actually experience reduced costs that are associated with other contracts. So, why not request a Free, No Obligation Financial Analysis now?

Just click the link below to start enjoying the benefits: http://legacyinsuranceagency.com/financialanalysis.html

SCARY TRUTH #5:
As you near retirement your money in your 401k is more at risk. This is because the losses can be greater as your plan accumulates over time. A market loss in your last working years could be devastating. In a recent story in Time Magazine (“Why It’s Time to Retire the 401k”, October 9, 2009), they reported that during the recent market downturn, 401k’s of 55-to-65-year-olds lost a quarter more than those of their 35-to-45-year-old counterparts.

A dividend paying, whole-life policy actually becomes more efficient over time, and can provide you with peak growth at retirement, when you will need it most, without the risk associated with the stock market or other investments.

SCARY TRUTH #6:
Borrowing from your 401k can cause double taxation! If you borrow money from your 401k, for any reason before you’re 59½, in most cases you’re required to pay back any loans back in full with interest within 30 to 60 days, or you’ll have to pay income taxes, PLUS a 10% penalty. But, what’s worse is when you repay the loan you are using after tax dollars, so you will end up being taxed again upon distribution.

With a whole-life contract you can set the rules for borrowing and repaying the loan. And, the money received from loans is tax-free up to the cost-basis. Another benefit is that a properly funded policy will also continue to grow, even with a loan against it. A properly trained agent can show you how to receive even more tax advantages from your policy. The average family could expect to recapture hundreds of thousands of dollars over their lifetimes, just by using their life policies as a resource, without having to depend on banks or other financial institutions.


SCARY TRUTH #7:
Deferring income taxes could cause you to PAY MORE IN TAXES! And, that’s assuming tax-rates don’t increase at all. If you are deferring taxes now in a lower bracket, and you get normal cost of living raises, at retirement you could be in a higher tax bracket resulting in a higher tax rate. If taxes go up in the future, then things get even worse.

With a Maximum Efficient Contract, you could enjoy as much as a 150% better lifestyle at retirement without even touching your life insurance policy. If you make withdrawals from your policy, they could be completely income-tax free under current tax law.

SCARY TRUTH #8:
The government is in control of your Qualified Plan! And, just as they change tax laws every year, they can change the rules for your IRA. Think about what’s going on right now with government spending. Where will the money come from to fund these bailouts? Do you know that Congress has changed the rules on taxation of Social Security over the years so that now as much as 85% of Social Security income can be taxed?

So, why not take advantage of a properly funded whole-life policy that can give you protection and peace of mind without government control?

Qualified Plans: Trick or Treat?

Have a wonderful Fall Holiday!
Barry Page
Infinite Banking Think Tank Member
Financial Consultant
www.legacyinsuranceagency.com

Learn more about Infinite Banking here: www.infinitebanking.org

How To Buy Whole Life Insurance

Discover The Benefits of Cash Value Dividend Paying Whole Life Insurance

Once you learn how to buy whole life insurance, and truly understand how it works, you can use the cash value to finance everything you buy. This requires discipline though and should only be used with the aid of an experienced agent.

All life insurance policies pay a claim when you die, but whole life can provide many economic benefits while you're alive. If the policy is set-up correctly when you initially make the purchase, you can use it much like any other financial account as a place for your money to reside. The important step is to buy cash value, dividend paying whole-life insurance from a mutual company.

There are but a few mutual companies left today. Most of the life insurance companies have demutualized and become stock based companies. This means their obligation is to their stockholders. Mutual companies have an obligation to their policyholders. To name a few, MassMutual, Guardian, Northwestern Mutual and New York Life. There are more, but those are the major players that have been around for a while.

Before we get started on how to buy whole life insurance, let's take a look at how the policy works. With a Whole Life Insurance Policy the premiums remain fixed for the life of the policy. A portion of the premium is used to purchase and accumulate a guaranteed cash value thus adding a savings element. You can purchase paid up additional insurance as well to increase this cash value. Dividends, which are not guaranteed, may also increase policy cash value. Provided that premiums are paid as specified in the policy, the policy remains in force during the insured's entire lifetime.

The part of your premium that goes into a cash reserve and accumulates as cash value is tax-deferred and can be tax-free if accessed correctly. Generally you can access this cash value at any time, for any reason (Imagine doing that at your bank without a lengthy application and credit report). The reasons could be many including financing a car, a hardship, college, marriage, retirement or critical illness.

While providing many benefits of its own, whole life insurance also makes your other assets stronger. By providing protection, a hedge against inflation and significant tax benefits. With permanent life insurance in place at retirement the owner of the policy can spend down all of his assets if needed without fear of running out of money.

Some of the many benefits of owning whole life insurance:

• Tax Deferred


• Tax Free *


• Estate Tax Free *


• Unlimited Contributions *


• Competitive Return On Investment


• Guarantee


• Creditor Protection *


• Unlimited Investment Options


• Collateral


• Liquid, Use and Control


• Disability Waiver *

*Benefits may vary based on your situation. All benefits should be examined by an experienced agent and may not work in all cases.

Before you purchase whole life insurance, follow these steps:

1. Interview and find an agent that represents a mutual life insurance company. Ask the agents how much life insurance they own, and how much is whole life (Pay close attention to see if they mention "human life value" or "economic value".
   
2. Once you find an agent and decide on a mutual company, decide how much life insurance you want. You will find this is different than what you may have been told to buy, or how much you need.


3. You may want to own some term insurance to help you achieve your human life value. If the term is from a mutual company, it is usually convertible to whole life at a later time.
   
4. After you decide how much you want you can then determine how to fund the policy. Your agent should help you here, that's what he gets paid to do. Factors will include how long you want to fund the policy and how you foresee yourself using the policy in the future.


5. A few important riders you should look for include the waiver of premium, and paid-up-additions rider. The waiver will protect you in the event of your disability and the PUA will allow you to overfund the policy as you want to help grow your cash value.
   

Follow these steps and buy whole life insurance while you are young and healthy. If you have health issues, then you can buy it on your spouse, children or loved ones and you can retain ownership. Whole life insurance can provide many benefits while you are alive and allow you to pass on a legacy of financial independence to your heirs.

Enjoy Life Today, Leave a Legacy for Tomorrow sm,
Barry Page

Barry Page is an experienced life insurance agent. He can be reached at: http://www.legacyinsuranceagency.com/