A savings account with your local bank is a smart investment. But how many benefits does it provide for you and your family outside of earning interest? The best savings account for financial security, protection and generational wealth is a life insurance policy.
Factum Financial is a leader in providing guidance on how you can use life insurance products as long-term financial tools. Here are five reasons you should put all of your eggs in the life insurance basket.
Guaranteed Debt Removal
More than likely, you have health insurance, car insurance and homeowners insurance. Why shouldn’t you have life insurance, too? Debt is common for individuals and business owners of all classes.
If you have unresolved debt issues upon your death, a life insurance policy satisfies the payment of those debts. Your loved ones or business partners will not be held responsible for those liabilities. This includes loans for automobiles, properties and consumer debt.
Factum Financial believes in educating our customers on how to build wealth. Young families that have debt inquiries rely on us to give them answers.
In recent years, we have all witnessed the destruction that flooding and other natural disasters can bring to families in the United States and abroad. The funds in a savings account could assist you with recovery efforts if you encounter such a tragedy.
However, a large cash value sum with a life insurance policy would provide so much more for you and your loved ones. The amount of money in your savings account may not be as readily available as you think. A federal rule called Regulation D (or Reg D) stipulates that only six monthly transfers and withdrawals can be made from your savings account.
Any transactions beyond that limit can result in your account being downgraded or closed. The rule protects the banks and ensures that they have enough money, not you.
When you approach retirement, your paycheck that contributes to your savings account also retires. But the income from your life insurance policy does not. The plans you have made and dreamed of for post-employment can be implemented without stress or worry.
Our team at Factum Financial can show you how to begin a small business, purchase a new home or travel around the world with money from your policy. We strive to give financial wisdom to our customers that they can pass on to their families and peers.
Early Bird Gets The Worm
Now is the time to obtain a life insurance policy. The earlier you start, the better the benefits you will receive. As you advance in age, the more your qualifications for a policy decrease. Unfortunately, age advancement brings health decline for many people.
The Infinite Banking Concept (IBC) created by R. Nelson Nash encourages you to bank on yourself. By becoming your own bank with the proceeds from your life insurance policy, you set up your family and descendants for cash flow for generations to come.
At a young age, you qualify for benefits and advantages that will accumulate for many years.
Peace Of Mind
It has often been said that the only things certain in life are death and taxes. Prepare yourself to deal with both with a life insurance policy from Factum Financial. It is a secure, stable option that benefits those you leave behind, and it is tax-free.
Be assured that your family and your business will be taken care of financially. Our firm provides expert advice to individuals and business owners on how they can use life insurance products to protect themselves while also building wealth. We know that investing in a life insurance policy is an investment in you.
Contact one of our wealth strategists at Factum Financial today at 480-525-8180 to begin your path to financial freedom.
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