-
How Does Life Insurance Work?
Life insurance is essentially a contract between the insured and the insurance company that pays out if the policyholder, the insured, dies. The life insurance money generally goes to a family member or beneficiary.
But, how can this even be profitable for the insurance company? Everyone dies, after all. Well, this all has to do with how the contracts are set up.
Media:
Brittle Rille - Reunited by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1200047
Artist: http://incompetech.com/
published: 03 Jun 2022
-
Martin Lewis' Guide to Life Insurance - Different Types | This Morning
Money Saving Expert Martin Lewis is here with his guide to how it works, what to consider and where to get it from.
published: 10 Jul 2018
-
Why Is Term Insurance Better Than Whole Life Insurance?
Don’t waste money on whole life insurance. Get a term life policy today: http://bit.ly/2CmkuN1
Visit the Dave Ramsey store today for resources to help you take control of your money! https://goo.gl/gEv6Tj
Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: https://www.youtube.com/c/TheRamseyShowEpisodes?sub_confirmation=1
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show...
published: 20 Oct 2016
-
Life Insurance Agent Explains: How Does LIFE INSURANCE Work? | Wealth Nation
Life Insurance Agent Explains: How Does LIFE INSURANCE Work?
00:00 Introduction
00:22 What is Life Insurance?
02:52 Types of Life Insurance
05:07 What affects your ability to get insurance?
07:40 How Much Insurance Do I Need?
09:44 Video Summary
11:14 Conclusion
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JOIN THE WEALTH NATION COMMUNITY NOW!
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RECOMMENDATION:
HOW TO USE WHOLE LIFE INSURANCE TO CREATE CASH FLOW:
https://www.youtube.com/watch?v=Zwp-SjhD14A&list=PLO_zFk7XLo2_Yj4M1aBBbRc7O8j5pBbn9
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🤔 Whether you're a first-time buyer or simply curious about thi...
published: 21 Jul 2023
-
What is Life Insurance?
When you depart this world, your loved ones could be left with a lot of expenses and no way to pay them. Life insurance can help ensure financial stability.
There are a number of different types of life insurance policies. They differ primarily in how long you are covered for and the amount you’ll pay in premiums. In broad strokes, life insurance policies fall into two main categories: Term Life Insurance, a temporary insurance policy that covers you for a distinct time period; and Whole Life Insurance, which provides death benefits for your entire life. Life insurance can give you peace of mind knowing that your loved ones will not suffer financially if you were to die unexpectedly.
published: 14 Jul 2016
-
Why Dave Ramsey HATES Whole Life Insurance!
Why Dave Ramsey HATES Whole Life Insurance!
Subscribe and never miss a new highlight from The Ramsey Show: https://www.youtube.com/c/TheRamseyShow?sub_confirmation=1
Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET
Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6
Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews, and more!
Watch and subscribe to all The Ramsey Network shows here: https://www.youtube.com/c/TheRamseyShow/channels?view=49&shelf_id=5
Ramsey Solutions Privacy Policy
https://www.ramseysolutions.com/company/policies/privacy-policy
published: 07 Dec 2022
-
Types Of Life Insurance Explained
There are many different kinds of life insurance. Term Life, Whole Life, and Universal Life are just three of the most basic kinds. Check out life insurance expert Byron Udell break down the main three different types of life insurance.
Visit our blog and learn more about how much life insurance you need and the kind of coverage that fits your life. If your thirst for knowledge extends past the common questions, peruse our blog at your leisure.
Blog: http://bit.ly/2DR415l
How much life insurance do you need? Learn! http://bit.ly/2YMUAji
3 Reasons People Put Off Buying Insurance. Know it! http://bit.ly/2YPV5J8
GET A QUOTE! http://bit.ly/2YOuSdZ
Read the Video!
Hi. I’m Byron Udell, Founder and CEO of AccuQuote.
Since 1986, we’ve helped millions of people save money on their life insu...
published: 21 Jan 2016
-
Life Insurance Explained - What Is Life Insurance?
Get a free life insurance quote*: http://bit.ly/PolicygeniusLifeYT
*Minority Mindset is a paid partner with Policygenius. If you use them, we will get compensated but there's no additional cost to you
Get a 10-Day Free Trial of Market Insiders: https://theminoritymindset.com/Market-Insiders
What is life insurance - life insurance is a financial instrument to protect your family against a tragedy. But not all life insurance is the same, in this video we explain what life insurance is
Subscribe To Our Channel: http://bit.ly/M2YouTube
🚨Read Our FREE eBook🚨 Get Richer Sleeping - Investing 101: http://bit.ly/m2InvestingeBook
Recommended:
ARTICLE - Understanding Life Insurance: https://theminoritymindset.com/understanding-life-insurance/
Why Financial Education Is More Important Now...
published: 24 Sep 2020
-
Enhanced Loan to Value Ratio of Whole Life Insurance
published: 26 Feb 2024
-
How Whole of Life Assurance Works - Episode 262
http://meaningfulmoney.tv - The other type of life assurance is Whole of Life (I talked about Term Assurance in epsiode 261). In this video I explain how whole of life assurance works, and why I don't think it's a good idea in the vast majority of situations.
published: 22 Nov 2012
3:36
How Does Life Insurance Work?
Life insurance is essentially a contract between the insured and the insurance company that pays out if the policyholder, the insured, dies. The life insurance ...
Life insurance is essentially a contract between the insured and the insurance company that pays out if the policyholder, the insured, dies. The life insurance money generally goes to a family member or beneficiary.
But, how can this even be profitable for the insurance company? Everyone dies, after all. Well, this all has to do with how the contracts are set up.
Media:
Brittle Rille - Reunited by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1200047
Artist: http://incompetech.com/
https://wn.com/How_Does_Life_Insurance_Work
Life insurance is essentially a contract between the insured and the insurance company that pays out if the policyholder, the insured, dies. The life insurance money generally goes to a family member or beneficiary.
But, how can this even be profitable for the insurance company? Everyone dies, after all. Well, this all has to do with how the contracts are set up.
Media:
Brittle Rille - Reunited by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1200047
Artist: http://incompetech.com/
- published: 03 Jun 2022
- views: 103840
2:37
Martin Lewis' Guide to Life Insurance - Different Types | This Morning
Money Saving Expert Martin Lewis is here with his guide to how it works, what to consider and where to get it from.
Money Saving Expert Martin Lewis is here with his guide to how it works, what to consider and where to get it from.
https://wn.com/Martin_Lewis'_Guide_To_Life_Insurance_Different_Types_|_This_Morning
Money Saving Expert Martin Lewis is here with his guide to how it works, what to consider and where to get it from.
- published: 10 Jul 2018
- views: 62472
9:04
Why Is Term Insurance Better Than Whole Life Insurance?
Don’t waste money on whole life insurance. Get a term life policy today: http://bit.ly/2CmkuN1
Visit the Dave Ramsey store today for resources to help you take...
Don’t waste money on whole life insurance. Get a term life policy today: http://bit.ly/2CmkuN1
Visit the Dave Ramsey store today for resources to help you take control of your money! https://goo.gl/gEv6Tj
Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: https://www.youtube.com/c/TheRamseyShowEpisodes?sub_confirmation=1
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
https://www.youtube.com/c/TheRamseyShow?sub_confirmation=1
• The Ramsey Show (Full Episodes): https://www.youtube.com/c/TheRamseyShowEpisodes?sub_confirmation=1
• The Dr. John Delony Show: https://www.youtube.com/c/JohnDelony?sub_confirmation=1
• The Rachel Cruze Show: https://www.youtube.com/user/RachelCruze?sub_confirmation=1
• Anthony ONeal: https://www.youtube.com/user/aonealministries?sub_confirmation=1
• The Ken Coleman Show: https://www.youtube.com/c/TheKenColemanShow?sub_confirmation=1
• The Christy Wright Show: https://www.youtube.com/c/ChristyWright?sub_confirmation=1
• EntreLeadership: https://www.youtube.com/c/entreleadership?sub_confirmation=1
https://wn.com/Why_Is_Term_Insurance_Better_Than_Whole_Life_Insurance
Don’t waste money on whole life insurance. Get a term life policy today: http://bit.ly/2CmkuN1
Visit the Dave Ramsey store today for resources to help you take control of your money! https://goo.gl/gEv6Tj
Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch debt-free screams, Dave Rants, guest interviews, and more!
Want to watch FULL episodes of The Ramsey Show? Make sure to go to The Ramsey Show (Full Episodes) at: https://www.youtube.com/c/TheRamseyShowEpisodes?sub_confirmation=1
Check out the show at 4pm EST Monday-Friday or anytime on demand. Dave Ramsey and his co-hosts talking about money, careers, relationships, and how they impact your life. Tune in to The Ramsey Show and experience one of the most popular talk radio shows in the country!
Ramsey Network (Subscribe Now!)
• The Ramsey Show (Highlights):
https://www.youtube.com/c/TheRamseyShow?sub_confirmation=1
• The Ramsey Show (Full Episodes): https://www.youtube.com/c/TheRamseyShowEpisodes?sub_confirmation=1
• The Dr. John Delony Show: https://www.youtube.com/c/JohnDelony?sub_confirmation=1
• The Rachel Cruze Show: https://www.youtube.com/user/RachelCruze?sub_confirmation=1
• Anthony ONeal: https://www.youtube.com/user/aonealministries?sub_confirmation=1
• The Ken Coleman Show: https://www.youtube.com/c/TheKenColemanShow?sub_confirmation=1
• The Christy Wright Show: https://www.youtube.com/c/ChristyWright?sub_confirmation=1
• EntreLeadership: https://www.youtube.com/c/entreleadership?sub_confirmation=1
- published: 20 Oct 2016
- views: 796730
12:12
Life Insurance Agent Explains: How Does LIFE INSURANCE Work? | Wealth Nation
Life Insurance Agent Explains: How Does LIFE INSURANCE Work?
00:00 Introduction
00:22 What is Life Insurance?
02:52 Types of Life Insurance
05:07 What affects y...
Life Insurance Agent Explains: How Does LIFE INSURANCE Work?
00:00 Introduction
00:22 What is Life Insurance?
02:52 Types of Life Insurance
05:07 What affects your ability to get insurance?
07:40 How Much Insurance Do I Need?
09:44 Video Summary
11:14 Conclusion
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JOIN THE WEALTH NATION COMMUNITY NOW!
➡️ https://lp.wealthnation.io/join-the-money-school
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THE WEALTH NATION FREE MASTER CLASS:
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RECOMMENDATION:
HOW TO USE WHOLE LIFE INSURANCE TO CREATE CASH FLOW:
https://www.youtube.com/watch?v=Zwp-SjhD14A&list=PLO_zFk7XLo2_Yj4M1aBBbRc7O8j5pBbn9
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🤔 Whether you're a first-time buyer or simply curious about this financial safeguard, you're in the right place! Join us on this enlightening journey as we demystify the intricacies of life insurance and empower you with the knowledge you need to make informed decisions for your family's future. 💼💕
Life insurance isn't just about protecting your loved ones; it's about securing your legacy and ensuring financial stability in uncertain times. 💪💰
Whether you're a parent, a young professional, or simply someone who wants to safeguard their future, this video is your guide to understanding how life insurance can benefit you and your family. 💡
Don't miss out on this opportunity to gain financial wisdom and peace of mind. Hit that 'LIKE' button if you found this video helpful and 'SUBSCRIBE' for more educational content on personal finance, investments, and insurance. And as always, feel free to share your thoughts and questions in the comments section below. 💬
Life is uncertain, but your financial future doesn't have to be. Let's get started on the path to financial security with our guide on "How Does LIFE INSURANCE Work?" 🌟📈
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Get Carmen's shirt here: https://wealth-nation-swag.myshopify.com/products/long-sleeve-own-your-own-lifestyle
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WARNING:
Many fake accounts are impersonating our channel. We will NEVER ask you to contact us through YouTube comments, telegram, or WhatsApp. You can connect with us through the links provided in our video descriptions. Please be aware of fake accounts trying to scam you using our name and picture.
DISCLAIMER
**Wealth Nation makes content available as a service to its customers and other visitors to be used for informational purposes only. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals before taking any action.
** Some of these links go to one of our websites, and some are affiliate links where we'll earn a small commission if you make a purchase at no additional cost to you.
**The Infinite Banking Concept® is a registered trademark of Infinite Banking Concepts, LLC. Wealth Nation is not affiliated with, sponsored by, or endorsed by Infinite Banking Concepts, LLC.
https://wn.com/Life_Insurance_Agent_Explains_How_Does_Life_Insurance_Work_|_Wealth_Nation
Life Insurance Agent Explains: How Does LIFE INSURANCE Work?
00:00 Introduction
00:22 What is Life Insurance?
02:52 Types of Life Insurance
05:07 What affects your ability to get insurance?
07:40 How Much Insurance Do I Need?
09:44 Video Summary
11:14 Conclusion
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
JOIN THE WEALTH NATION COMMUNITY NOW!
➡️ https://lp.wealthnation.io/join-the-money-school
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
THE WEALTH NATION FREE MASTER CLASS:
➡️ https://community.wealthnation.io/courses/the-1s-banking-method-exposed
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
RECOMMENDATION:
HOW TO USE WHOLE LIFE INSURANCE TO CREATE CASH FLOW:
https://www.youtube.com/watch?v=Zwp-SjhD14A&list=PLO_zFk7XLo2_Yj4M1aBBbRc7O8j5pBbn9
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🤔 Whether you're a first-time buyer or simply curious about this financial safeguard, you're in the right place! Join us on this enlightening journey as we demystify the intricacies of life insurance and empower you with the knowledge you need to make informed decisions for your family's future. 💼💕
Life insurance isn't just about protecting your loved ones; it's about securing your legacy and ensuring financial stability in uncertain times. 💪💰
Whether you're a parent, a young professional, or simply someone who wants to safeguard their future, this video is your guide to understanding how life insurance can benefit you and your family. 💡
Don't miss out on this opportunity to gain financial wisdom and peace of mind. Hit that 'LIKE' button if you found this video helpful and 'SUBSCRIBE' for more educational content on personal finance, investments, and insurance. And as always, feel free to share your thoughts and questions in the comments section below. 💬
Life is uncertain, but your financial future doesn't have to be. Let's get started on the path to financial security with our guide on "How Does LIFE INSURANCE Work?" 🌟📈
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
Get Carmen's shirt here: https://wealth-nation-swag.myshopify.com/products/long-sleeve-own-your-own-lifestyle
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
WARNING:
Many fake accounts are impersonating our channel. We will NEVER ask you to contact us through YouTube comments, telegram, or WhatsApp. You can connect with us through the links provided in our video descriptions. Please be aware of fake accounts trying to scam you using our name and picture.
DISCLAIMER
**Wealth Nation makes content available as a service to its customers and other visitors to be used for informational purposes only. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals before taking any action.
** Some of these links go to one of our websites, and some are affiliate links where we'll earn a small commission if you make a purchase at no additional cost to you.
**The Infinite Banking Concept® is a registered trademark of Infinite Banking Concepts, LLC. Wealth Nation is not affiliated with, sponsored by, or endorsed by Infinite Banking Concepts, LLC.
- published: 21 Jul 2023
- views: 13438
2:02
What is Life Insurance?
When you depart this world, your loved ones could be left with a lot of expenses and no way to pay them. Life insurance can help ensure financial stability.
Th...
When you depart this world, your loved ones could be left with a lot of expenses and no way to pay them. Life insurance can help ensure financial stability.
There are a number of different types of life insurance policies. They differ primarily in how long you are covered for and the amount you’ll pay in premiums. In broad strokes, life insurance policies fall into two main categories: Term Life Insurance, a temporary insurance policy that covers you for a distinct time period; and Whole Life Insurance, which provides death benefits for your entire life. Life insurance can give you peace of mind knowing that your loved ones will not suffer financially if you were to die unexpectedly.
https://wn.com/What_Is_Life_Insurance
When you depart this world, your loved ones could be left with a lot of expenses and no way to pay them. Life insurance can help ensure financial stability.
There are a number of different types of life insurance policies. They differ primarily in how long you are covered for and the amount you’ll pay in premiums. In broad strokes, life insurance policies fall into two main categories: Term Life Insurance, a temporary insurance policy that covers you for a distinct time period; and Whole Life Insurance, which provides death benefits for your entire life. Life insurance can give you peace of mind knowing that your loved ones will not suffer financially if you were to die unexpectedly.
- published: 14 Jul 2016
- views: 14675
9:23
Why Dave Ramsey HATES Whole Life Insurance!
Why Dave Ramsey HATES Whole Life Insurance!
Subscribe and never miss a new highlight from The Ramsey Show: https://www.youtube.com/c/TheRamseyShow?sub_confirmat...
Why Dave Ramsey HATES Whole Life Insurance!
Subscribe and never miss a new highlight from The Ramsey Show: https://www.youtube.com/c/TheRamseyShow?sub_confirmation=1
Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET
Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6
Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews, and more!
Watch and subscribe to all The Ramsey Network shows here: https://www.youtube.com/c/TheRamseyShow/channels?view=49&shelf_id=5
Ramsey Solutions Privacy Policy
https://www.ramseysolutions.com/company/policies/privacy-policy
https://wn.com/Why_Dave_Ramsey_Hates_Whole_Life_Insurance
Why Dave Ramsey HATES Whole Life Insurance!
Subscribe and never miss a new highlight from The Ramsey Show: https://www.youtube.com/c/TheRamseyShow?sub_confirmation=1
Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET
Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6
Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews, and more!
Watch and subscribe to all The Ramsey Network shows here: https://www.youtube.com/c/TheRamseyShow/channels?view=49&shelf_id=5
Ramsey Solutions Privacy Policy
https://www.ramseysolutions.com/company/policies/privacy-policy
- published: 07 Dec 2022
- views: 235035
5:18
Types Of Life Insurance Explained
There are many different kinds of life insurance. Term Life, Whole Life, and Universal Life are just three of the most basic kinds. Check out life insurance exp...
There are many different kinds of life insurance. Term Life, Whole Life, and Universal Life are just three of the most basic kinds. Check out life insurance expert Byron Udell break down the main three different types of life insurance.
Visit our blog and learn more about how much life insurance you need and the kind of coverage that fits your life. If your thirst for knowledge extends past the common questions, peruse our blog at your leisure.
Blog: http://bit.ly/2DR415l
How much life insurance do you need? Learn! http://bit.ly/2YMUAji
3 Reasons People Put Off Buying Insurance. Know it! http://bit.ly/2YPV5J8
GET A QUOTE! http://bit.ly/2YOuSdZ
Read the Video!
Hi. I’m Byron Udell, Founder and CEO of AccuQuote.
Since 1986, we’ve helped millions of people save money on their life insurance.
When you boil it down, there are really only two kinds of life insurance: “Temporary” coverage, which is called “Term Insurance”…and “Permanent Insurance.”
Both Term and Permanent life insurance come in various shapes and flavors to satisfy different needs.
Permanent insurance is designed to provide coverage for as long as you live. If your needs are long-term, like estate planning or final expenses, or if you just want to leave a bigger legacy, no matter when you die, permanent life insurance is probably the way to go.
There are lots of different kinds of permanent insurance, but the two primary categories are…whole life and universal life. And I’ll come back to these in a minute.
Term life insurance is, by definition, “temporary” insurance. It’s designed to provide coverage for a limited period of time, typically 10, 20 or 30 years. Term policies are simple and extremely inexpensive. In most cases, your cost each year is guaranteed to remain level for whatever the term is. Again, typically 10, 20 or 30 years. After the term is over, make sure you’re sitting down when you receive your premium notice, because your rates are going to jump up dramatically. Sometimes by a factor of as much as 10 or more.
But some of these policies have a built-in conversion option that’ll allow you trade in your term coverage for a shiny new permanent policy.
Term life makes sense if you know when you’re going to be financially independent or if you’re sure there’s some date down the road where no one will be depending on you anymore financially. Like when your kids are all grown up and your mortgage is all paid off.
Term is also good when you’re younger and your biggest concern is getting the protection in place and keeping your costs down.
If you’re a non-smoker in your 30s and healthy, you can buy a 20-year, $250,000 term policy for less than $20 a month.
Sounds too good to be true? Well, it’s 100% true.
Now back to Permanent Life Insurance. Whole Life and Universal Life insurance are more expensive than Term, but let’s look at what you’re getting for the money.
Unlike term insurance, permanent insurance in generally designed to last forever. You can’t outlive a permanent life insurance policy. With most permanent policies, as long as you pay your premiums on time, your family is guaranteed to receive the death benefit…no matter when you die. Whether that’s tomorrow or 50 years from now.
Unlike term insurance, permanent insurance policies can also build cash surrender values, which can be accessed at any time, for any reason. You can set up your premiums to be level of life…guaranteed. You won’t have to worry about premiums going up when you get older and forcing you to drop the policy. Nor will you have to worry about being healthy enough in the future to have to requalify or replace the coverage. If you like, you can also arrange to pay for the policy over a shorter period of time, say 10 years, so after that, you own the coverage…and no further premiums are due for the rest of your life.
Universal Life Insurance, one kind of permanent life insurance, offers a certain amount of built-in flexibility. You have the ability to change your premiums and death benefits to keep pace with changes in your life.
Whole Life Insurance is what I refer to as the “Rolls Royce” of life insurance. Whole life costs more than all the other types of life insurance we’ve discussed, but it does more. Over time, these policies develop significant cash value that are guaranteed and can be accessed at any time. Regardless of what happens in the economy, each year, the cash values grow…guaranteed.
https://wn.com/Types_Of_Life_Insurance_Explained
There are many different kinds of life insurance. Term Life, Whole Life, and Universal Life are just three of the most basic kinds. Check out life insurance expert Byron Udell break down the main three different types of life insurance.
Visit our blog and learn more about how much life insurance you need and the kind of coverage that fits your life. If your thirst for knowledge extends past the common questions, peruse our blog at your leisure.
Blog: http://bit.ly/2DR415l
How much life insurance do you need? Learn! http://bit.ly/2YMUAji
3 Reasons People Put Off Buying Insurance. Know it! http://bit.ly/2YPV5J8
GET A QUOTE! http://bit.ly/2YOuSdZ
Read the Video!
Hi. I’m Byron Udell, Founder and CEO of AccuQuote.
Since 1986, we’ve helped millions of people save money on their life insurance.
When you boil it down, there are really only two kinds of life insurance: “Temporary” coverage, which is called “Term Insurance”…and “Permanent Insurance.”
Both Term and Permanent life insurance come in various shapes and flavors to satisfy different needs.
Permanent insurance is designed to provide coverage for as long as you live. If your needs are long-term, like estate planning or final expenses, or if you just want to leave a bigger legacy, no matter when you die, permanent life insurance is probably the way to go.
There are lots of different kinds of permanent insurance, but the two primary categories are…whole life and universal life. And I’ll come back to these in a minute.
Term life insurance is, by definition, “temporary” insurance. It’s designed to provide coverage for a limited period of time, typically 10, 20 or 30 years. Term policies are simple and extremely inexpensive. In most cases, your cost each year is guaranteed to remain level for whatever the term is. Again, typically 10, 20 or 30 years. After the term is over, make sure you’re sitting down when you receive your premium notice, because your rates are going to jump up dramatically. Sometimes by a factor of as much as 10 or more.
But some of these policies have a built-in conversion option that’ll allow you trade in your term coverage for a shiny new permanent policy.
Term life makes sense if you know when you’re going to be financially independent or if you’re sure there’s some date down the road where no one will be depending on you anymore financially. Like when your kids are all grown up and your mortgage is all paid off.
Term is also good when you’re younger and your biggest concern is getting the protection in place and keeping your costs down.
If you’re a non-smoker in your 30s and healthy, you can buy a 20-year, $250,000 term policy for less than $20 a month.
Sounds too good to be true? Well, it’s 100% true.
Now back to Permanent Life Insurance. Whole Life and Universal Life insurance are more expensive than Term, but let’s look at what you’re getting for the money.
Unlike term insurance, permanent insurance in generally designed to last forever. You can’t outlive a permanent life insurance policy. With most permanent policies, as long as you pay your premiums on time, your family is guaranteed to receive the death benefit…no matter when you die. Whether that’s tomorrow or 50 years from now.
Unlike term insurance, permanent insurance policies can also build cash surrender values, which can be accessed at any time, for any reason. You can set up your premiums to be level of life…guaranteed. You won’t have to worry about premiums going up when you get older and forcing you to drop the policy. Nor will you have to worry about being healthy enough in the future to have to requalify or replace the coverage. If you like, you can also arrange to pay for the policy over a shorter period of time, say 10 years, so after that, you own the coverage…and no further premiums are due for the rest of your life.
Universal Life Insurance, one kind of permanent life insurance, offers a certain amount of built-in flexibility. You have the ability to change your premiums and death benefits to keep pace with changes in your life.
Whole Life Insurance is what I refer to as the “Rolls Royce” of life insurance. Whole life costs more than all the other types of life insurance we’ve discussed, but it does more. Over time, these policies develop significant cash value that are guaranteed and can be accessed at any time. Regardless of what happens in the economy, each year, the cash values grow…guaranteed.
- published: 21 Jan 2016
- views: 656500
11:17
Life Insurance Explained - What Is Life Insurance?
Get a free life insurance quote*: http://bit.ly/PolicygeniusLifeYT
*Minority Mindset is a paid partner with Policygenius. If you use them, we will get compensat...
Get a free life insurance quote*: http://bit.ly/PolicygeniusLifeYT
*Minority Mindset is a paid partner with Policygenius. If you use them, we will get compensated but there's no additional cost to you
Get a 10-Day Free Trial of Market Insiders: https://theminoritymindset.com/Market-Insiders
What is life insurance - life insurance is a financial instrument to protect your family against a tragedy. But not all life insurance is the same, in this video we explain what life insurance is
Subscribe To Our Channel: http://bit.ly/M2YouTube
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Recommended:
ARTICLE - Understanding Life Insurance: https://theminoritymindset.com/understanding-life-insurance/
Why Financial Education Is More Important Now Than Ever: https://www.youtube.com/watch?v=0cScikkNXqQ&list=PLKsS_EjCEmdp1Ou6YeukY1refAQY251ef
Life Insurance Explained - What Is Life Insurance?
0:15 - Why everyone needs life insurance even though many of you won’t need it in the near future by comparing life insurance to car insurance
2:15 - Life insurance is insurance on your life but all life insurance is not good
3:20 - When you don’t need life insurance
4:29 - Understanding Term Life Insurance
4:50 - The cost of whole life insurance vs term life insurance
6:50 - Why is whole life insurance so much more expensive than term life insurance
7:23 - How whole life insurance works
9:24 - Why term life insurance can be a better option for the majority of Americans
9:50 - How the price of your life insurance is affected
What Is The Minority Mindset?
We are a financial news & education company. The Minority Mindset has nothing to do with the way you look. It's the mindset of thinking differently than the majority of people. #MIH #GetMoneySmart
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This Video: https://youtu.be/jhhE1F96ryo
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Video host: Jaspreet Singh
DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you.
DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
https://wn.com/Life_Insurance_Explained_What_Is_Life_Insurance
Get a free life insurance quote*: http://bit.ly/PolicygeniusLifeYT
*Minority Mindset is a paid partner with Policygenius. If you use them, we will get compensated but there's no additional cost to you
Get a 10-Day Free Trial of Market Insiders: https://theminoritymindset.com/Market-Insiders
What is life insurance - life insurance is a financial instrument to protect your family against a tragedy. But not all life insurance is the same, in this video we explain what life insurance is
Subscribe To Our Channel: http://bit.ly/M2YouTube
🚨Read Our FREE eBook🚨 Get Richer Sleeping - Investing 101: http://bit.ly/m2InvestingeBook
Recommended:
ARTICLE - Understanding Life Insurance: https://theminoritymindset.com/understanding-life-insurance/
Why Financial Education Is More Important Now Than Ever: https://www.youtube.com/watch?v=0cScikkNXqQ&list=PLKsS_EjCEmdp1Ou6YeukY1refAQY251ef
Life Insurance Explained - What Is Life Insurance?
0:15 - Why everyone needs life insurance even though many of you won’t need it in the near future by comparing life insurance to car insurance
2:15 - Life insurance is insurance on your life but all life insurance is not good
3:20 - When you don’t need life insurance
4:29 - Understanding Term Life Insurance
4:50 - The cost of whole life insurance vs term life insurance
6:50 - Why is whole life insurance so much more expensive than term life insurance
7:23 - How whole life insurance works
9:24 - Why term life insurance can be a better option for the majority of Americans
9:50 - How the price of your life insurance is affected
What Is The Minority Mindset?
We are a financial news & education company. The Minority Mindset has nothing to do with the way you look. It's the mindset of thinking differently than the majority of people. #MIH #GetMoneySmart
Check out some of our recommended products! Please note: These are our sponsors, so if you use them, we will get compensated. There's no additional cost to you.
----------
➤ Real Estate Investing Online
1) 🏠 Fundrise - Invest in real estate with as little as $500! See the historical returns here:
http://bit.ly/InvestFundrise
----------
➤ Best Online Savings Account
2) 🏦 CIT Bank - Get a much better interest rate on your savings account with no fees. CIT Bank is FDIC Insured and conditions apply:
http://bit.ly/CITsavings
----------
➤ Active Stock Market Investing
3) 📈 Webull - Buy & sell stocks, pay $0 in commissions, and get a free stock: http://bit.ly/m2WebullFreeStock
----------
➤ Passive Stock Market Investing
4) 💰 M1 Finance - Pick a few ETFs and stocks, then let M1 Finance invest your money automatically:
https://bit.ly/M1FinanceStocks
----------
➤ Loans & Refinancing
5) 💸 Credible* - Get the lowest interest rates possible on your loans - see how much you can save:
Mortgage Refinance: https://bit.ly/MortgageRefiCredible
Getting A New Mortgage: https://bit.ly/MortgagePurchaseCredible
*Advertisement from Credible Operations, Inc. NMLS 1681276, not available in all states. Visit https://www.credible.com/a/state-licenses for important information about Credible’s licenses.
----------
➤ Home & Life Insurance
6) 🛡 Policygenius - make sure your family is protected with life insurance & home insurance. Policygenius will find you the best deal at no cost to you:
http://bit.ly/PolicygeniusLifeYT
Get a free home insurance quote: https://bit.ly/m2HomeInsurance
----------
➤ Car Insurance
7) 🚗 CarInsurance.com - See how much you can save on your car insurance with a free quote:
https://bit.ly/m2carinsurance
----------
➤ Credit Cards
8) 💳 See some of our recommended credit cards*: http://bit.ly/ *We are compensated when you click on or are approved for offers. The information in this video and YouTube description was not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities.
----------
Twitter: https://www.Twitter.com/MinorityM1ndset
Instagram: http://www.Instagram.com/MinorityMindset
Facebook: http://www.Facebook.com/MinorityMindset
See more & read our blog! http://www.TheMinorityMindset.com
This Video: https://youtu.be/jhhE1F96ryo
Channel: https://www.youtube.com/MinorityMindset
Video host: Jaspreet Singh
DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you.
DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.
- published: 24 Sep 2020
- views: 38332
5:41
How Whole of Life Assurance Works - Episode 262
http://meaningfulmoney.tv - The other type of life assurance is Whole of Life (I talked about Term Assurance in epsiode 261). In this video I explain how whol...
http://meaningfulmoney.tv - The other type of life assurance is Whole of Life (I talked about Term Assurance in epsiode 261). In this video I explain how whole of life assurance works, and why I don't think it's a good idea in the vast majority of situations.
https://wn.com/How_Whole_Of_Life_Assurance_Works_Episode_262
http://meaningfulmoney.tv - The other type of life assurance is Whole of Life (I talked about Term Assurance in epsiode 261). In this video I explain how whole of life assurance works, and why I don't think it's a good idea in the vast majority of situations.
- published: 22 Nov 2012
- views: 3518