JIM KAIGHN INSURANCE AGENCY- HOME OF THE "INSURANCE DOCTOR"

By :JIM KAIGHN, CLU,CHFC,RHU AABA,BSBA,LUTCF

                                                         The Forgotten Retirement Planning Tool--LIFE INSURANCE
 
As I have mentioned many times in my past articles, insurance is not taught in the high school or college systems.  So, since Life Insurance is dealing with money and its value, neither is
money growth or how money can work for and with you taught in schools. Most young adults learn what they know about money from their parents, who learned it from their folks.. and so on!!
Problem is.. None of them learned the right way or have NO IDEA what it is about.  Our economy runs on one thing..MONEY--CASH--MOOLA!! People need to learn  how money works and how it can get you into deep trouble
or how it can make you feel good.  Most people have always heard about 401K accounts they get at work. You are told at work this is a great way to save for retirement some 30-40-50 years down the line.. What they do not tell you is, how your money MAY NOT be there later on, due to things like stock market crashes, financial advisors who only look out for themselves , or charge you fees even if your funds go up or down!! Of course, you have NO IDEA WHAT THEY ARE DOING OR NOTHING ABOUT MUTUAL FUNDS, OR STOCKS (PREFERRED OR COMMON) OR BONDS OR T- BILLS... You are depending on your financial future to something you have NO KNOWLEDGE about. Are these profits taxable and how, can I lose money, can I be penalized for needing money early..( Alot of penalty rules are written in the tax code mainly by lawyers).  I could go on and on about this, but I want to educate you the value of using PERMANENT LIFE INSURANCE as a tool for retirement planning.. Many educated and learned scholars will POOF at the idea of using life insurance to earn savings..I t is because
it is so simple so easy to understand, they want to keep things complicated so you have to depend on THEIR VAST KNOWLEDGE AND EXPERTISE..BALONEY, all types of accounts have their merits if handled by the right people in the right way.. MY EXPERTISE IS IN LIFER INSURANCE, 50 YEARS WORTH!!Permanent Life Insurance has cash value features that are GUARANTEED TO GROW  EVERY YEAR, NO MATTER WHAT THE ECONOMY OR THE STOCK MARKET IS DOING..Like the sun rising and setting, these values go UP.UP..UP11 Another main feature is that certain plans pay DIVIDENDS IN THEIR CONTRACTS,above and beyond the GUARANTEED CASH VALUES.. These values are not guaranteed, but most major companies have paid DIVIDENDS FOR OVER 100 YEARS++.. These plans are called PARTICIPATING PLANS, meaning they pay to you, the policy owner, some of their profits each year!!
Now comes the best part THESE VALUES GROW TAX FREE AND CAN BE TAKEN OUT TAX FREE!! Even if your policy is worth more in these values than your total premiums paid in,properly advised these funds are TAX FREE!!
Now, most agents do not sell these policies, because many large companies have quit offering them.. They would rather push low cost TERM INSURANCE..Now, do not get me wrong, for I do also sell term insurance, but only if the need of the person, family or business warrant it.. Now, sure, some other financial plans can be bought on a tax free advantage, (ROTH IRS, SOME GOVERNMENT BONDS, ETC)..But again, YOU have no idea how these things work..Oh, and one last thing.. If you die before retiring or wanting to take out your earnings, all your family gets is the amount of money in these accounts..AFTER THE GOVERNMENT GETS THEIR FAIR SHARE.......Life Insurance will pay the ENTIRE amount of the insurance to the family..usually many, many many times more than the cash money is worth,, AND THE MONEY COMES TO THE FAMILY OR BUSINESS TAX FREE!!
No federal, or state taxes..(in 99% of the cases)..So, if you would like more info on this idea, or others, call me at 252 335 5983 or 252 202 5983, or my e-mail is "insdr@roadrunner.com"
Until nest time, HAPPY TRAILS TO YOU!!  THOUGHT OF THE MONTH-- If you compare yourself with others you may become vain and bitter, for always there will be greater and lesser persons than yourself!!