This is a great question. Most people are accustomed to buying term insurance because it is so cheap. It's great for that purpose but a term policy is all cost because it doesn't have any cash value growth.
Eventually only 2% of all term policies pay a death benefit. So 98% of the time, all the money paid into a term policy will be lost forever. This means your next generation will be no better off than you were during your life.
A permanent Whole Life policy structured as a Bank on Yourself® policy is designed as a savings account. It is contractually guaranteed to grow every single year!
I can show you how quickly the cash builds and the remarkable thing is how the cash value will pay for the cost of insurance which on this type of policy is guaranteed to never increase unlike with a universal life policy. Because a Bank on Yourself® policy is designed as a savings account and not like a life insurance policy, the question is not how much it costs.
The question is how much would you like to save on a monthly basis?
Call or email to request a free Bank on Yourself® analysis.
JLM Wealth Strategies, Inc.
(925) 386-6639 Office
Authorized Advisor-Bank on Yourself®