|Personal Finance 101: Get your money back.
How many finance gurus, finance podcast hosts, or financial advisors charge big bucks for finding 1,000 different ways to say “Don’t waste money.” Everything after that – growing your wealth, diversifying your income streams, planning your tax strategy, are all just roads that splinter from that one main path of common sense wisdom. I will explain a way to accomplish those 3 things with a no-risk policy premium because – in fact – you can get your money back afterwards!
I ran for office and recognize a PR trap when I see one. This is not a trap – it’s a real strategy that works incredibly well when it comes to not wasting money. It’s called “Return of Premium” and it comes in the form of Term Life Insurance. Not all companies offer this, but I can show you which ones do. Here’s how it works:
Think about your current insurance policies. Odds are that you or your spouse have some amount of term life insurance that you pay to keep in force every month. But when you put that in place, you are essentially making a bet with the Life Insurance company that you will die before the term runs out – at which point your beneficiaries receive the Death Benefit. I think even Vegas would raise an eyebrow and see that as kind of dark. You shouldn’t want a prerequisite to winning to be your death.
But there is an additional rider you can put on your term life insurance called “Return of Premium”. If you live past your coverage timeframe, the carrier will return all your premiums to you. Yes, All. The rider is the only cost you will pay for the guarantee of getting the premiums back. Imagine going to Vegas to play blackjack, and every time you make a losing bet, the house gives you back your money. One favor I ask in sharing this little known strategy – I would like to believe I am earning your business to make this happen for you therefore please reach out to me through the contact information below so we can put this in place today.
In the great debate between Term vs. Permanent Life Insurance, we may see the beginnings of a Peace Treaty with this new amendment. Now if we can just get our country to follow the same idea, we may have a bright future.
I look forward to hearing from you –
MassMutual, The Piedmont Group, LLC