Why I'm Starting a New Life Insurance Policy
I'm 67, and I'm in the process of buying a new whole life insurance policy. Commonly, people have the misconception that you don't need life insurance at my age. Yet I'm here to say that it's never too late to start a policy, and it has more benefits than you may think.
So why would I want whole life insurance now?
On a purely practical level, I think it's always a good time to protect your family and your income. And at the core, life insurance is a death benefit. By purchasing a permanent policy, I can guarantee that my loved ones will have something when I pass some day. That's money they can use to start their own infinite banking system, among dozens of options.
I also believe that whole life insurance is a great asset to save money into. It's never too late to save money, and whole life insurance provides protection, liquidity, AND growth. This means I can use the money when I want, and be confident that it's safe. This can eventually be useful for income, big-ticket items, and opportunities.
In other words, people may seek life insurance for the death benefit, but it also has living benefits.
Hear more of my thoughts on buying whole life insurance below.
BONUS: What Dave Ramsey Gets Wrong
Password: Wh0leTruth! (the o is a zero)
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