How Does Whole Life Insurance Work As An Investment?
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- Опубликовано: 3 окт 2024
- No one enjoys investing in their death. We get life insurance to protect our loved ones, our business partners, etc. BUT WHAT IF YOU COULD LEVERAGE LIFE INSURANCE AS AN INVESTMENT FOR YOUR LIFE? In this episode, I show you how life insurance works.
Should you use just anyone to set up your policy? Find out here!
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Kris Krohn is not in the business of providing personal, financial or investment advice and specifically disclaims any liability, loss or risk, which is incurred as a consequence, either directly or indirectly, by the use of any of the information contained in this document. Also, Kris Krohn, this document, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Kris Krohn does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.
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You know your stuff because you explain it in a way that is cristal clear.
I love the value you bring in financial literacy.
Great explanation. I have done this with a few clients and it is a great strategy.
Your loan also collects compound interest while it’s taken out
How many people loose big or loose everything trying to make 20% per annum? This argument may work for a few very skilled and disciplined investors but comes with very significant risk for most.
Bruce talk to them because the thing is most people on here make an average of $60k to maybe $70k with about $60 bucks of disposable income if that they have so who are these really geared to?
Increase Your financial intelligence that’s how you make this work
People that use the stock market as a casino lose big. If you just invest in the S&P 500 over your life there is no amount of time period that whole life is a better investment.
No loan charge taxes
Pardon my thickness here, but I didn't quite hear the part about why one should get this type of insurance policy and borrow in order to invest in real estate or a business, instead of just going directly to invest in real estate or a business. Does it get you there faster somehow?
No...it's just a gimmick to get you to buy trash value insurance.
😂
Nope...but it does get the salesman to retirement faster.
They don’t get commission if you do that. Lol
Great video, short, clear and to the point.
I just retired is it too late I've never heard of this till now.
Nevermind you answered it after watching the video it's too late.
And you said if you set it up correctly do you have a vid on how to do so
I love this strategy. I wish I had started this when I was younger. It would have been so helpful.
True
Don't do whole life, just get term
Best video on the topic I’ve seen. Thanks. Time to put this into action. 💪
Don't do it lol
When you borrow against it are you charged interest on the loan against your savings?
If so that sounds so wrong. Why would you pay interest on your savings?
No
Yes
It doesn’t
Great video...insurance policy creates another option..and options create wealth
Lol wrong wrong and wrong
I’m just finding this clip and trying to find that link below I realize it’s broken and the page is a 404 down.
Can somebody provide some more info? Thanks
I appreciate all your value. Your amazing!
thank you.
Thank you very much.
Which companies can structure the whole life policy as you described?
This is my question! Tell me when you find out
Most any company can but the agent you use has to know how to create this type of policy. Many won’t even know these exist.
Northwestern Mutual. Find someone in your network that works there. Top company
A great concept! A few of the things you said were misleading (as an insurance professional), but definitely an underappreciated way to utilize a whole life policy.
@@staticshock2807 she doesn't know.
@@cryptosavy9716 Agreed.
What is misleading?
You can’t just say xyz is wrong or kinda wrong then walk away lol.
Details backed by facts (maybe post the links etc) or it’s not true lol!
Don't you pay interest on the loan you take out on the life insurance policy?
interest that you pay back to yourself too👍🏽
@@supps101 then you die to leave everything
When you die, it gets deducted from your death benefit
Great job sir
Great info. Thank you!
Can you teach me how im interested in it talking to some insurance agents they cant let you barrow unless you put a certain year to your whole life insurance policy.
Great explanation on Whole Life Insurance! 😊🙌 Finally understand my options.
is this a strategy that should only be done once you are already maxing out your company 401k, and also an IRA? Thanks
What insurance company do you recommend
I am interested in that type life insurance
Awesome Sauce Kris
"The difference between genius and stupidity is that genius has its limits." Albert Einstein
Where's the links your talking about can't find them.
do you need to deposit a large sum or just monthly payments to achieve the £300k death benefit in this example
Who even offers a life insurance policy where you can access your full death benefit while still living?
Thank you sir
Thanks for the brief explanation. It’s the 671 views for me ! Lmao 🤦🏻♂️
Hi Kris, what are your thoughts about having a trust in the life insurance?
You'd make the Trust be the beneficiary of your death benefit payout. And yes, this is often the way it is handled.
I'm 45, is it to late to start a whole life insurance plan
Don't do it
You have taught me so much thanks
Don’t you have to pay interest on your loan ?
LOL that kris didnt answer this!
Dudes a snake oil salesman lol.
Yes you do have to pay the loan back with interest, which is crazy to me why do I have to borrow from my savings??? If it's my savings!
Who are you paying the interest to? Yourself or the company?
How soon can you loan against your whole life policy
Could take 15-20 years to build up the cash value to a point where it makes sense to take a loan against it. Meanwhile if you just invest that premium in the stock market you can take it out at anytime and expect a 4-5x higher return
Can people apply from anyway in the world
Whats life insurance and how Do i get one?? Is it a bank, do i call someone ?
Life Insurance is an insurance policy. I know I refer to it as a bank in the video, but that is a metaphor as a bank is a "place that stores money" but Life Insurance is setup by a professional. hit that link if you want a consultation on how to set it up and see if life insurance is a solution for you.
Kris I’m 19 and I find this concept amazing but my only concern is at what age do I decided to set up this life insurance policy? More specifically what are the Benefits of setting one up when you are young versus setting one up later on down the road when I have a better job, income, etc?
Kevin Sosa when you are young the insurance cost it’s lower and you are healthier and that’s important to get approved
Never to early to start building capital. I suggest going to the Nelson Nash Institute and look for an IBC practitioner in your area.
@Kevin Sosa, The younger the better. The monthly premiums increase as you age.
Get it now.
Did you do it?
This is weird so many video contradict what he says. So confused
How do I do this???
What if u don’t have kids no one to benefits from is it still worth getting whole life insurance
"I've only met three people in the last decade that know how to structure these in a way that really benefits you and I..."
Bro, what?🤣
So the concept is so exclusive or uncommon that you, who works in the business, have only come across three people who know how to do this right? Yet everyone and their mommas are making videos about it touting how great of an investment vehicle it is, lol.
great description. it’s definitely the best option .
Makes me wanna slap policies on everyone I know Lol
Would you think "indexed universal life" can be used advantageously for this as well since it's safer than "whole life"
@@brooklynnbronx92 How is an IUL safer?
Who can you tell me that knows how to do this? I have whole life insurance but they never told me about his deal.
You can talk to my buddy Rob's team. www.kriskrohn.com/insurance
20% ROI on Realestate? Yeah, right buddy
Not unheard of. 15% is a more attainable number. You make it on free cash flow, mortgage paydown and price appreciation. Your investment might be 20-35% of the purchase price and that is the number your ROI is measured against. Just understand there are better options out there to build wealth.
I wouldn't put money into IBC, just go direct to real estate and save the cost of one loan. Far better off in the long term.
whats better tho/Term or Whole/
Term
Whole
Term
Can you give me the contact to open a whole life insurance policy as what you said. Do you know how to convert 401k into whole life policy without paying tax and penalty?
You cant. you will create a tax event if you convert a 401K into a whole insurance policy.
@@itsblossom-pv3fx not true... it's dependent upon certain factors and conditions such as age and amount put in and withdrawn-- you can allocate a certain amount of money into another qualified plan such as an annuity or WHL.
look at "1035 exchange" this is exactly that ^^
Hey Kris, I have crypto currency and what I wanna know is how can I tie in crypto profits with whole life insurance with out being taxed or is that not possible? another words I make huge profits in the crypto world and I don't want my profits to be reduced. is there a way to connect the two without an issue? Or is this a case of I should have purchased crypto through an IRA or LLC first? Any suggestions or legal loop holes?
Great question, I also have the same. Ask your local tax expert if you haven’t or try to dm Kris
If I’m 29 years old. Am I to late?
29! You're basically a spring chicken! It's definitely not to late for you.
Do somebody based in canada who knows such insurance ..
Yes having all. Thank you kris such a wonderful person, just join your 7f.h.
This guy is the epitome of the term “used car salesman.”
How so? Everything he’s saying is correct. What do you have against what he’s saying? Back it with facts.
I agree
Dear Lord , your level of intellect and common sense is zero!
njcd
To paraphrase financial expert Dave Ramsey ; Never use life insurance as an investment. Always use it as a protection , and buy only term, NOT whole life. Dave Ramsey also has lots of experience as a real estate investor in the past. Mutual funds historically have a rate of return much higher than life insurance. Although the value of mutual funds fluctuate, the difference in rate of return makes mutual funds far superior. After all, what does the insurance company invest in? Surprise! Insurance companies invest in the stock market. Some of these companies are also real estate investments within the stock market. with companies that hold real estate. The stock market real estate investments also have the advantage of not calling you in the middle of the night to report a toilet overflowed or a fire occurred on your rental property. Commissions on stock are generally much lower than on real estate too.
Edit- Watch out for those who hype life insurance like Nelson Nash!
Moreover, investments in the market should supersede what you are putting towards life insurance. But if structured correctly, life insurance is a great tool to use during down markets
Variable universal life insurance invests for you in mutual funds.
What bank is he talking about?
He's not. This is the 'word salad' sales pitch. Run!
I have a hard time believing that a real estate guy like you all in love of whole life lol. What's in it for you? 😆
Uhhhh, the commissions from the sale maybe?
90% commission
You should ask Dave Ramsey the same thing.
Okay
I’m coming in late in the game, I’m single, no family and i want to buy a home
Which type of policy would be best for me
Whole Life. Look into the Nelson Nash Institute. Find an agent in your area.
Term life not whole life, not index not universal
What company is the best for a whole life policy
New York Life Insurance
Hey starting an podcast are you willing to be on my podcast?
Hit me up if you need life insurance
I've had a whole life insurance policy on myself my daughter and grandchildren (riders).
How do I borrow from those policies? How do I know if the policy is written correctly
Tough to say without seeing the details of your policy. There are different ways that a policy can be setup. I'd still recommend hitting that button to have a consultation. www.kriskrohn.com/insurance
Don’t do it! Run.
@@Gevans5472 Why do you say don’t do it?
Never buy Whole Life. Never. Buy term, invest the rest.
if i were to put in 40k every year since age 19 to age 35 would i be able to live off of it?
If you put 40k into dividend paying stocks. Setting up drip.
You would be a multi millionaire.
Invest 40k a year into whole life.
You will make your whole life agent a multi millionaire lol
@@I_like_turtles_67 you have no idea what you’re talking about. If set up correctly the agent would make like $4k on that policy one time.
@@seestuff09 you have no control of the settings. The Insurance companies have their own designs/structure. You can only agree with their terms or just forget it
You can’t place 40k a year sir bc the max is 22k
For that commitment you can buy eight or nine houses and never have to work again. Or, you can buy this product and ensure the insurance salesperson never has to work again. Because he will buy the real estate.
The only person this type of policy benefits is the agent. Do your homework, there is nothing right with a whole life policy. It is a rip off, don't be fooled.
Amen.
True.
Yup you’re a lot better off just putting it in the market, especially with a taxfree 401k or IRA
You have no idea what you’re talking about. If done this way the insurance agent makes a 90% reduction in their commissions
Because I'm sure the agent is in the business of making 90% less
This was terrible advice. I hope you're not an investment advisor talking like that.
Why is that? I would like to know
Harry Sacks, I too would like to know why you feel this is terrible advice.
Time2Live I’m an insurance agent and can help with any questions
S&J I’m an insurance agent and can help with any questions
Uh oh not another buy term invest the rest guy