Create Your Own Bank
Curious about the strategy Walt Disney, Rockefeller, and many more used to build their legacy?
The Answer: Properly structured whole life insurance policies.
Life Insurance
At Prevail, one of our financial strategies involves empowering individuals to become their own family bank through the strategic overfunding of life insurance policies. By diligently building up the cash value within these policies, individuals can unlock a powerful tool for accessing cash when needed, such as for major purchases like a new car. The unique feature lies in the ability to leverage policy loans against the accumulated cash value, providing a flexible and efficient source of funds.
What sets this approach apart is its safety and tax advantages – under most circumstances, the growth of your money within a properly designed life insurance policy remains tax-free. It's a method that not only offers financial security but also turns life insurance into a dynamic asset that can be harnessed for wealth-building opportunities. Explore the transformative potential of this strategy with Prevail and take a significant step towards mastering your financial destiny.
01
Do I need life insurance?
While life insurance is crucial for individuals with dependents relying on them financially, it may not be essential for everyone. Those without dependents or significant financial responsibilities may find that other investment or financial planning options better suit their needs.
02
How much life insurance do I need?
Determining the right amount of life insurance for an individual involves a careful consideration of various factors. It's essential to assess one's financial obligations, including outstanding debts, mortgages, education costs, and day-to-day living expenses. Additionally, factoring in the provision for future needs, such as children's education and potential medical expenses, is crucial. Individuals should also account for their income replacement needs and any existing savings or assets.
A comprehensive evaluation of these elements ensures that the chosen life insurance coverage adequately protects loved ones and provides a financial safety net in the face of unforeseen circumstances.
03
What's the advantage of permanent life insurance?
Permanent life insurance, often considered a compelling option for wealth accumulation, offers both a death benefit and a cash value component. Unlike term life insurance, which provides coverage for a specific term, permanent life insurance lasts throughout the policyholder's lifetime, as long as premiums are paid. A significant advantage lies in the cash value, which grows over time and can be accessed through policy loans or withdrawals. This unique feature allows policyholders to accumulate wealth in a tax-advantaged manner, fostering financial growth while maintaining a life-long coverage safety net. While the premiums for permanent life insurance tend to be higher than those of term life, the potential for long-term financial growth and the added benefit of a death benefit make it an attractive option for those seeking both protection and a means to grow their money.
Mapping out the
Millionaire Mystery
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By Brent Kesler & Chris Naugle
Mapping Out the Millionaire Mystery expands upon the two-hundred-year-old strategy used by the wealthy to eliminate debt, grow their wealth, minimize taxation, and leave a legacy.
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Brent and Chris teach it in a way that is technical enough for the educated reader, yet simple enough for anyone to apply.
Becoming Your
Own Banker
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By R. Nelson Nash
Finally! A book that tells the truth about Dividend-Paying Whole Life Insurance. Exercise your imagination with this major paradigm shift. Reading the book just one time won’t do the job.
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There have been many people who have had a glimpse of what this book is all about, but none, to my knowledge, has put together a comprehensive rationale such as you will see here. Read it with an open mind and you will discover an exciting new financial world!
Child Millionaire
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By Cole Snell
What if what you do now could provide for your child’s college costs down the road? What if it could eventually fund a car purchase, business investment, or a future wedding? And what would it mean if the future generations of your family never needed to go to a bank for a mortgage or line of credit?
Child Millionaire explains how to go about creating familial wealth for generations to come.
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Ready to Learn More?
Click the button below to schedule a consultation with our life insurance agent. We are happy to answer any questions you may have about life insurance. We can also provide you with an illustration that shows how you can use a permanent life insurance policy to grow your money and become your own family bank.