1000% agree with you. Not only do you have the tools to differentiate what agent is actually helping you. You also have the clarity yourself to maximize every detail for your personal needs. Amazing video! Hands down. 🙏🏼🙌🤝.
Not only do you have the tools to differentiate what agent is actually helping you. You also have the clarity yourself to maximize every detail for your personal needs. Amazing video! Hands down. 🙏🏼🙌🤝.
So glad you made this video Chris. Probably just going to send it straight to my clients instead of taking the time during our meetings to explain it. I hope this video helps everyone also better discern who has their best interests in mind and who doesn’t!
Great video! Best explanation I have heard. My only question is with the example you provided 10K a year going into a policy. Would that 10K go into the policy as a dump or can you pay it monthly? And if you pay it monthly, are you still able to borrow 10K let's say within 30 days?
This is the best most honest and straightforward and understandable breakdown of IBC & why it matters that I've ever found! Instant subscriber here! Thank you 🙏🏽
The best and concise explanation I've ever heard on this subject. I have a specially designed policy and I'm looking to do another one. I've never taken any loans but this gives me confidence that I'm doing a good thing with my money.
Lost my notes - but was so impressed by you - took the notes again - and making sure they don't get lost because I am printing them now instead of waiting until later - thank again - you are the greatest.
Im so happy I found your channel today, this is absolutely the best video I have seen explaining IBC, I can't wait to learn more and then put it into action! THANK YOU!
I have no idea how this video started playing. I am just glad it did. I'm not to bright,but Im getting the jest of things. And , What I don't know I'm gonna research. Thank you dude, I'm subbing too.
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs. Theresa, I think she is the best broker I have ever seen
I do enjoy your content, I really do, but can you start putting together some short, factual packed, no loose jargon videos. It’s hard for my kids to stay focused, and I think it’s important for them to learn this. Much love
Chris, did you mean to write “ 15” on the 60/40 plan, first column bottom left? You’ve written 20 and that confused me until I figured it must be a typo. The other plans are all 5,10,15. Thanks. I love these videos!
Chris, I'm subscribed to several awesome people in the IBC community, but your explanation here is one of the best I've seen! It's wonderfully clear every step of the way and with great production polish. You get my sub AND the bell, sir.
Hi Chris, 1. Is it true that you NEVER have to pay back a policy loan (if you never deplete the cash value) because the loan and the loan interest will just be deducted from the death benefit payout to your beneficiaries ? 2. The Guaranteed Interest is written in the contractual obligations ? 3. Is this still advantageous if you will be retiring in only 9 years ?
Great video. Beginning around 37:00 when discussing borrowing from your policy. Yes, it may not "disappear" as in taking $10,000 out of a bank but 4-8% on $10,000 is a great deal. Especially, if that person does not pay the money back before dying. Also, you mentioned a 6% return because of the combination and the fixed percentage in the contract; not wholly dependent on the fixed percentage. Those dividends in a life insurance policy are not actually dividends. It's more of a refund. I enjoyed the video.
Not all term insurance policies go up every year. There are level term policies that stay the same monthly cost for whatever term you purchase it for. There are 10,15 and 20 level term policies that you can purchase.
This was a very eloquently conveyed video. I am curious as to why a “PROPERLY” structured IUL wouldn’t yield similar results? I’m not sure of the reasoning between IUL which people like D. McKnight or a C. Ray and others prefer vs WL embraced by N. Nash, S. Parisi (of IBC Global fame) or C. Guilliams.
Chris, a question regarding high net worth or someone that comes into sudden wealth. Say someone enters a venture partnership and receives 10 million dollars plus company dividends every quarter worth a few million per year. The intent is to invest in real estate and other passive income opportunities. What is/are some strategies? Can this individual capitalize the policy with the ten million? How would you advise?
Just started to follow you. Loved the educational content. And you broke it all down simple and clear. I do have a question I’m hoping that you can answer. I have a residential multifamily property. I collect rents on 3 apartments, and I live in one (owner occupied). Is it possible for me to use the Infinite Banking System to “funnel/direct” my money into, and pull out to make my monthly mortgage payment? Because I feel that despite me not paying my mortgage and my resident are, that this would be silly and foolish to not take advantage of especially since, theoretically, this would be 100% me using other peoples money to fuel and grow my Infinite Banking System 🤷🏽♂️
I have a couple of questions that I want to ask him, and they are these: What happens when the cash value of the whole-life policy, exceeds the death benefit? Can you borrow a value beyond that of the death benefit, up to the cash value? Can the death benefit be increased to match the cash value? What happens when the insured dies? Does the cash value come out and go to the beneficiary? Can the policy with all of it's cash value be willed to your revocable living trust? If the objective of infinite banking is to truly be infinite, then there needs to be a mechanism to pass the policy to the heirs of the insured, or to at least liquidate the policy for all it's cash value, and set up new policies fle the heirs, or somwthing. What to do?
The cash value will not exceed the death benefit. When the policy endows at age 121, the cash value and death benefit will be equal. The policy beneficary can be your trust. When the insured dies, the death benefit - loans gets paid to your beneficiary and they can create more policies,
Good job on the breakdown Chris. Little convulooted on the long term win for the 60/40 vs 10/90 but I agree it's the better long term over 19/90 or HECV. JACK
Like the concept of the HECV, but am being advised that at my age, a very healthy 63, that the cost of insurance is too high for the whole thing to work for me?
good job on the video. I have enjoyed many others of yours as well. I know you did one a year ago on differences you see in IUL vs WL, but you also got a lot of disagreement in the chat as well as a video by Doug Andrew hating on Whole Life. Unfortunately, I feel like these disagreements make IBC look like someone is just trying to sell their product. Doesn't seem like both of you could be right, so one is wrong or both are wrong. Could you try to comment or do a video in response to his to redeem IBC from what looks to be just a really good sales pitch by insurance salesmen? Hope that didn't come across snarky. I and others really want to learn and bless ourselves and those around us by truly understanding this stuff and not be dooped.
Lafayette Life, One America, and others we work with 5 carriers. Here’s where you can book your call with the [BYOB] Money Mentor Team: go.oncehub.com/TMM-Coaching looking forward to connecting more with you!
When your paying back the loan is all 100% going straight back to the insurance company separately or is the money combining with your monthly premium payments and accelerate your cash value because then your dumping more money into your account?
In other words if I have the money to make a big purchase on something(home improvements, vacation, ext), is it better for me to take a loan out instead of buying it in cash on the spot?
I watched this video and then had my "Getting started call" I told him I wanted a 90/10 and he is trying to steer me toward a 70/30. He's saying the 90 wont compound as quickly as the 70. Can someone advise my why he'd give me the opposite advise of Chris? I also wasnt crazy about the monthly handling fees or the historical dividends of the company he was steering me towards.
So basically I'd save $10k, then buy an insurance policy, then continue to pay into this policy at $10k/yr - which is about $833/mo; all while trying to save at my normal rate and paying bills and living. I think the concept behind this is great - but I would def need to be making a lot of money even to start. This is not for paycheck to paycheck households AT ALL
So… his example with buying a car and paying 500/m. He said you get that money back for use? How? Are you not paying back that loan to the insurance company at 4%
I had the same question. He makes it seem as if you are adding those $500/m payments into your premium policy and compounding additional interest. I believe it is a set $10k annual policy so those payments are just redirected to the insurance company. Correct me if I am wrong. Also, if you take out a loan to completely pay off a car with no financing and monthly payments, wouldn’t you now have a financial obligation to make monthly payments to the insurance company at 4%? So instead of my money making the full 6%, I’ve cut it down to a spread of 2%? I’m currently financing my car 3.69% and mortgage at 3.75%. I only see the benefit if you have outrageous credit card debt at 20% to pay off or if you just have to invest in real estate at inflated rates. I guess the greater the risk, the greater the reward.
Banks and investment "advisors" subconsciously perceive the threat that IBC represents to the centralized banking system... If everyone woke up and started saving in IBC plans, the bank and stock market casinos would crash overnight as people learn how to completely control their own money... Eventually some money would exfiltrate back into banks and markets as policy loans, but the power share at the institutional level would be massive... Also guaranteed policies need the market to perform...
great job explaining the IBC "process". I have watched a lot of videos , and yours was the most clear and made sense! Question... I own a lot of apartment rentals. Let's say I want to sell a building and put the proceeds into your IBC system/process/product. How can I do this without paying capital gains on the sale of the apartment building?
Thanks, I appreciate the feedback! I’m not a CPA so what I’m about to say would need to be done under the advice of tax accountants and real estate attorneys. The plan would be to sell the apartment into a properly structured trust. The trust could sell the asset with proceeds being allocated to the corpus of the trust. The trust could then purchase the policy.
Hey Sven. Rather than sell a property and have to worry about the taxes and the capital gains etc... Why not just take out a tax-free loan on the property and invest the money into its key personnel as a life insurance policy being you? If I'm correct, the loan is tax-free, the investment into your policy through your company or LLC structure is also a tax deduction and write-off. Then the cash value in your policy is loanable to you and therefore also not taxable as a loan.
Can you use your cash value to help pay for next year's premium? That would be a great way to sell this idea to a standard broker. Basically guaranteeing the next 30 years of commissions? Ca-ching.
For the banking purposes we do we recommend a minimum of 10X your age monthly. So if you're 35, $350/m Certainly the more you contribute the more you have use and move. Just like in your home, the more you pay your mortgage the more you increase the EQUITY value.
6 minutes in and he's explained the infinite banking concept clearly and more descriptively than the other 50 videos I've seen. Thank you!
Real talk bro
Yes. THANK YOU FOR CLARITY
Facts!!!!! This is the clearest explanation I’ve heard in the last 100 videos
1000% agree with you. Not only do you have the tools to differentiate what agent is actually helping you. You also have the clarity yourself to maximize every detail for your personal needs.
Amazing video! Hands down.
🙏🏼🙌🤝.
Quality content, videos like this and insight from an expert goes a long way.
Couldn't agree more, their insight really helps, that's why I am now being coached by one, Edwin Earl.
@@finntomkins6825 hello Finn, can you link me to one? i have seen some of the benefits and i would also like some assistance.
INVESTWITHEARL
on telegram
Not only do you have the tools to differentiate what agent is actually helping you. You also have the clarity yourself to maximize every detail for your personal needs.
Amazing video! Hands down.
🙏🏼🙌🤝.
Your words mean so much, thank you friend. keep hanging with us!
Absolutely 🙏🙌🤝, your work is pure.
Thank you.
God bless you.
I almost never subscribe from a single video. Your explanation is incredible. You show true mastery over your realm of knowledge. Thank you.
the joy you have doing this and meeting people is amazing and yet you stay so humble and pay everyone a lot respect
Best explanation/analysis I’ve seen on this topic. Subbed.
So glad you made this video Chris. Probably just going to send it straight to my clients instead of taking the time during our meetings to explain it. I hope this video helps everyone also better discern who has their best interests in mind and who doesn’t!
Glad he referenced the spread in regards to the difference in interest paid back.
Great video! Best explanation I have heard. My only question is with the example you provided 10K a year going into a policy. Would that 10K go into the policy as a dump or can you pay it monthly? And if you pay it monthly, are you still able to borrow 10K let's say within 30 days?
So far I have had at least 4 different versions of explaining the benefits of Infinite and yours is the best
That means so much !! thank you!
This is the best most honest and straightforward and understandable breakdown of IBC & why it matters that I've ever found! Instant subscriber here! Thank you 🙏🏽
The best and concise explanation I've ever heard on this subject. I have a specially designed policy and I'm looking to do another one. I've never taken any loans but this gives me confidence that I'm doing a good thing with my money.
Lost my notes - but was so impressed by you - took the notes again - and making sure they don't get lost because I am printing them now instead of waiting until later - thank again - you are the greatest.
0:45 4:15 commission 6:15 mec 7 payroll 7:15
10:30 HECV 13:15 90/10 15:30 reduced paid up additions
Finally... someone who explained this infinite banking so I could understand it!! Great Job Chris!!
Glad it was helpful!
Im so happy I found your channel today, this is absolutely the best video I have seen explaining IBC, I can't wait to learn more and then put it into action! THANK YOU!
I wish I had this video 40 years ago!
This is the most well explained IBC presentation I have watched so far on this subject. Thank you so much Chris
The transparency down to the commissions sold me! I need several of these policies asap!
Add me on linkedin and we can chat about how to get you policy set up properly like in the video! www.linkedin.com/in/spencer-turkal-1607ab206
Thank you for taking the time, it matters ❣️✌️
You are so welcome
Please explain more about the segregated account
Great demonstration Chris. Thanks for sharing your knowledge on the topic. much appreciated!
One of the best breakdowns I’ve heard so far!!!✅🔥🔥🔥💰💰💰👍🏽💵💵💵
I have no idea how this video started playing. I am just glad it did. I'm not to bright,but Im getting the jest of things. And , What I don't know I'm gonna research. Thank you dude, I'm subbing too.
Thank you for an articulately explained video . Helped me clarify , the machine and process of byob! Great Stuff !
Mrs. Theresa Walton the bitcoin trader is legit and her method works like magic I keep on earning every single week with her new strategy.
Wow I'm just shocked someone mentioned expert Mrs Theresa I thought I was the only one trading with her
She helped me recover what I lost trying to trade myself.
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs. Theresa, I think she is the best broker I have ever seen
She's amazing with her skills. She changed my 0.5btc to 2.1btc
Who's this professional broker everyone is talking about I always see her post on the top comment on every RUclips video I watched
I do enjoy your content, I really do, but can you start putting together some short, factual packed, no loose jargon videos. It’s hard for my kids to stay focused, and I think it’s important for them to learn this. Much love
Hi Parick, wow thank you for sharing content to your kids. Will let Chris know, we appreciate your suggestions 🤩
Noted! let me know if you like this shorter video ruclips.net/video/55aS0QPprF4/видео.html
Thanks a lot for the very detailed layout and simple explanation of the cash flow.
Best video on IBC. I learned a lot.
thanks so much
Awesome 👏 😎. Now I can have my cake and eat it too😋.
Wish I watched this dude 10 years ago. Dropping 💎💎💎
FREE GAME. Do NOT LET THIS GO OVER YOUR HEAD.
your videos are fire!!! Thanks for explaining them so well.
I appreciate that!
Nice teacher, good info .
do you have any videos about a dump in?? i would like to see how a policy work for something like that.
Chris, did you mean to write “ 15” on the 60/40 plan, first column bottom left? You’ve written 20 and that confused me until I figured it must be a typo. The other plans are all 5,10,15. Thanks. I love these videos!
sorry that must be a typo
I'm liking what I'm hearing.👏🏾👏🏾👏🏾 Subscribing.
Commission is based on payments, not face value
This was a great video.. thanks for the knowledge
Glad it was helpful!
i love this thank you so mush
This is so detailed. Thank you.
Chris, I'm subscribed to several awesome people in the IBC community, but your explanation here is one of the best I've seen! It's wonderfully clear every step of the way and with great production polish. You get my sub AND the bell, sir.
Thanks Duane
Hi Chris,
1. Is it true that you NEVER have to pay back a policy loan (if you never deplete the cash value) because the loan and the loan interest will just be deducted from the death benefit payout to your beneficiaries ?
2. The Guaranteed Interest is written in the contractual obligations ?
3. Is this still advantageous if you will be retiring in only 9 years ?
Whats best company to use
Best video I have seen ! Thanks so much for speaking a language we can understand! ❤
Very interesting. Do the insurance companies know that people do this? Is it frowned upon?
Great video. Beginning around 37:00 when discussing borrowing from your policy. Yes, it may not "disappear" as in taking $10,000 out of a bank but 4-8% on $10,000 is a great deal. Especially, if that person does not pay the money back before dying. Also, you mentioned a 6% return because of the combination and the fixed percentage in the contract; not wholly dependent on the fixed percentage. Those dividends in a life insurance policy are not actually dividends. It's more of a refund. I enjoyed the video.
thank you!
I love you. I didn't see any show explaining it better. Awesome!!!! Thank YOU. I wish you to be in Canada that I can meet you in person.
Thank you
Not all term insurance policies go up every year. There are level term policies that stay the same monthly cost for whatever term you purchase it for. There are 10,15 and 20 level term policies that you can purchase.
This is amazing !! All over this !!
This was a very eloquently conveyed video. I am curious as to why a “PROPERLY” structured IUL wouldn’t yield similar results? I’m not sure of the reasoning between IUL which people like D. McKnight or a C. Ray and others prefer vs WL embraced by N. Nash, S. Parisi (of IBC Global fame) or C. Guilliams.
Chris, when you take money out, how is that debt structured? What are the payback terms back to the policy?
Genius.
Where can I buy insurance like that
Which company?
How do I start looking into these life insurance?
Chris, a question regarding high net worth or someone that comes into sudden wealth. Say someone enters a venture partnership and receives 10 million dollars plus company dividends every quarter worth a few million per year. The intent is to invest in real estate and other passive income opportunities. What is/are some strategies? Can this individual capitalize the policy with the ten million? How would you advise?
Yes they certainly can and we just did one for $2.55m that was insane.
Great content!
Thank you, I am on my way.
Excellent explanation!! Filled in some of the gaps for me regarding policy design!
Loving this content...Thanks Chris!!🤟
Just started to follow you. Loved the educational content. And you broke it all down simple and clear.
I do have a question I’m hoping that you can answer. I have a residential multifamily property. I collect rents on 3 apartments, and I live in one (owner occupied). Is it possible for me to use the Infinite Banking System to “funnel/direct” my money into, and pull out to make my monthly mortgage payment? Because I feel that despite me not paying my mortgage and my resident are, that this would be silly and foolish to not take advantage of especially since, theoretically, this would be 100% me using other peoples money to fuel and grow my Infinite Banking System 🤷🏽♂️
I have a couple of questions that I want to ask him, and they are these: What happens when the cash value of the whole-life policy, exceeds the death benefit? Can you borrow a value beyond that of the death benefit, up to the cash value?
Can the death benefit be increased to match the cash value? What happens when the insured dies? Does the cash value come out and go to the beneficiary? Can the policy with all of it's cash value be willed to your revocable living trust?
If the objective of infinite banking is to truly be infinite, then there needs to be a mechanism to pass the policy to the heirs of the insured, or to at least liquidate the policy for all it's cash value, and set up new policies fle the heirs, or somwthing. What to do?
The cash value will not exceed the death benefit. When the policy endows at age 121, the cash value and death benefit will be equal.
The policy beneficary can be your trust.
When the insured dies, the death benefit - loans gets paid to your beneficiary and they can create more policies,
Thanks for breaking this down Chris
You bet!
Totally understood..Super awesome and ty so much!!! 😁🤑🤑🤑
Can I got a life policy on me can I use that for my bank
Most valuable video watched on RUclips!
Any thoughts on the risk of failure/bankruptcy of insurance policy providers guaranteeing the compounded interest and dividends?
What are some specific policies company/policy that should be considered? You mentioned only about 10 policies actually work for IBC.
Great content , how can I open or become my own bank.?
If that's wasn't clear enough...I'm not sure what else could be....
Excellent video
What company would this example have worked for? You said there was one of ten that charged only 4%
Good job on the breakdown Chris. Little convulooted on the long term win for the 60/40 vs 10/90 but I agree it's the better long term over 19/90 or HECV. JACK
Like the concept of the HECV, but am being advised that at my age, a very healthy 63, that the cost of insurance is too high for the whole thing to work for me?
When I run an illustration for a 60/40 it MECs at year 12 on $1000 monthly premiums.
Increase your face value.
good job on the video. I have enjoyed many others of yours as well. I know you did one a year ago on differences you see in IUL vs WL, but you also got a lot of disagreement in the chat as well as a video by Doug Andrew hating on Whole Life. Unfortunately, I feel like these disagreements make IBC look like someone is just trying to sell their product. Doesn't seem like both of you could be right, so one is wrong or both are wrong. Could you try to comment or do a video in response to his to redeem IBC from what looks to be just a really good sales pitch by insurance salesmen? Hope that didn't come across snarky. I and others really want to learn and bless ourselves and those around us by truly understanding this stuff and not be dooped.
You totally used the black kitty with gold eyes for thumbnail click bait. It worked. What's your baby's name?
1. Phishing
2. Smishing
3. Vishing
4. Malware
5. Spyware
6. Keyloggers
7. Spoofing
8. Skimming
9. Ransomware
10. Adware
what's the maximum I can put in at once . I knew about IBC for 8 yrs and never had it explained better .
I’m ready to do it. How do I get it started ?
What are the insurance companies that have the most IBC friendly policies?
Lafayette Life, One America, and others we work with 5 carriers. Here’s where you can book your call with the [BYOB] Money Mentor Team: go.oncehub.com/TMM-Coaching looking forward to connecting more with you!
Does it matter whether you go direct recognition vs. non direct recognition?
Im Ready.. Lets go..> I need you ... Wow.. so much info... Just sent a consultation request in
When your paying back the loan is all 100% going straight back to the insurance company separately or is the money combining with your monthly premium payments and accelerate your cash value because then your dumping more money into your account?
In other words if I have the money to make a big purchase on something(home improvements, vacation, ext), is it better for me to take a loan out instead of buying it in cash on the spot?
I watched this video and then had my "Getting started call" I told him I wanted a 90/10 and he is trying to steer me toward a 70/30. He's saying the 90 wont compound as quickly as the 70. Can someone advise my why he'd give me the opposite advise of Chris? I also wasnt crazy about the monthly handling fees or the historical dividends of the company he was steering me towards.
Great video
What happens to the account when the policy holder passes? Does the beneficiary get any of it or only the death benefit?
So basically I'd save $10k, then buy an insurance policy, then continue to pay into this policy at $10k/yr - which is about $833/mo; all while trying to save at my normal rate and paying bills and living. I think the concept behind this is great - but I would def need to be making a lot of money even to start. This is not for paycheck to paycheck households AT ALL
I believe he is only giving an example of starting with $10,000. I dont believe its a set in stone amount.
I am 72 in good health . Is the death insurance going to make this not work for me
Curious about the death benefit in the 90/10; does the 351K include the 250K term?
So… his example with buying a car and paying 500/m. He said you get that money back for use? How? Are you not paying back that loan to the insurance company at 4%
I had the same question. He makes it seem as if you are adding those $500/m payments into your premium policy and compounding additional interest. I believe it is a set $10k annual policy so those payments are just redirected to the insurance company. Correct me if I am wrong.
Also, if you take out a loan to completely pay off a car with no financing and monthly payments, wouldn’t you now have a financial obligation to make monthly payments to the insurance company at 4%? So instead of my money making the full 6%, I’ve cut it down to a spread of 2%? I’m currently financing my car 3.69% and mortgage at 3.75%. I only see the benefit if you have outrageous credit card debt at 20% to pay off or if you just have to invest in real estate at inflated rates. I guess the greater the risk, the greater the reward.
I’m pretty sure one is still earning 6% compound interest on the full amount of money even after they take it out.
By paying back the loan on the car you are freeing up that cash value again to use as collateral again.
Banks and investment "advisors" subconsciously perceive the threat that IBC represents to the centralized banking system... If everyone woke up and started saving in IBC plans, the bank and stock market casinos would crash overnight as people learn how to completely control their own money... Eventually some money would exfiltrate back into banks and markets as policy loans, but the power share at the institutional level would be massive... Also guaranteed policies need the market to perform...
🙏🏽 thank you
great job explaining the IBC "process". I have watched a lot of videos , and yours was the most clear and made sense! Question... I own a lot of apartment rentals. Let's say I want to sell a building and put the proceeds into your IBC system/process/product. How can I do this without paying capital gains on the sale of the apartment building?
Thanks, I appreciate the feedback! I’m not a CPA so what I’m about to say would need to be done under the advice of tax accountants and real estate attorneys. The plan would be to sell the apartment into a properly structured trust. The trust could sell the asset with proceeds being allocated to the corpus of the trust. The trust could then purchase the policy.
Hey Sven. Rather than sell a property and have to worry about the taxes and the capital gains etc... Why not just take out a tax-free loan on the property and invest the money into its key personnel as a life insurance policy being you? If I'm correct, the loan is tax-free, the investment into your policy through your company or LLC structure is also a tax deduction and write-off. Then the cash value in your policy is loanable to you and therefore also not taxable as a loan.
Can you use your cash value to help pay for next year's premium? That would be a great way to sell this idea to a standard broker. Basically guaranteeing the next 30 years of commissions? Ca-ching.
would love to know which ten he is talking about
I'm ready for you to coach me on this insurance
Does the H.E.C.V policy have a minimum deposit amount?
For the banking purposes we do we recommend a minimum of 10X your age monthly. So if you're 35, $350/m Certainly the more you contribute the more you have use and move. Just like in your home, the more you pay your mortgage the more you increase the EQUITY value.
Please clarify for me, if one dies before the term expires does the person get the cash value in addition to the death benefit?