*This Ain't Your Grandma's Life Insurance Policy*
News flash:
Life insurance policies in 2024 allow you to use the death benefit while you are still living.
This new kind of life insurance policy can protect your retirement income..... Help prevent foreclosure due to a life-changing medical event such as a major heart attack right before retirement....or severe cancer right before retirement.....or a severe stroke right before retirement.
Your life insurance policy could provide you with a half million dollars or more of income tax-free money that you can use for whatever you want.
Use this money to make your car payment or use it to make your mortgage payments while you're recovering before going back to work.
Use it to pay off your mortgage, use it to pay for your hospital deductibles, and use it to become debt-free!
If you had a medical event like this at age 60 you could use this money to retire early...
I say again this ain't your grandma's life insurance policy.
If you were to ask Google what the number one reason for foreclosure and bankruptcy is....one of the top responses would be medical expenses, medical bankruptcy.
Even if you have health insurance you still have a deductible with a max out of pocket of $5k to $15k. Even if you have 5,000 or 10,000 sitting in your bank account to pay for your deductible and coinsurance do you have a year's salary saved up to replace your income from missing work?
Almost no one follows their doctor's recommended recovery schedule because your bills do not stop just because you suffered a major heart attack or major stroke or cancer diagnosis.
Even if you have a short or long-term disability plan, these plans are not designed to replace your total income so the question is this:
How many people can afford to go 6 months or longer earning 40% less than what you are currently making?
With this new kind of life insurance plan, you can receive a lump sum income tax-free benefit 30 days with a maximum of 90 days after suffering a major medical event.
This lump sum benefit is income tax-free and you can use it however you want.
This is what I call, the ultimate FBI Protection Plan...
The Foreclosure Bankruptcy Income Protection Plan!
The second major concern this new life insurance policy helps to solve is the Long-term Care Dilemma.
If you are in your 40s or 50s nearing retirement but also faced with having to care for an elderly parent grandparent or spouse needing long-term care services you are already aware of the financial, mental, physical, and emotional strain this can cause.
With this new life insurance plan you could access $500,000 or more income tax-free for long-term care type services.
Yes there are famous Financial gurus who insist on waiting until you turn 60 before purchasing a long-term care policy but the problem with this advice is that currently, 80% of individuals 60 and older are on some type of medication with 94% of individuals over the age of 73 on 2 to 5 different types of medications.
Waiting until 60 before securing a long-term care plan is terrible financial advice.
You are putting yourself in a scenario where you might not qualify for a long-term care policy and if you do qualify the premiums could be substantially higher as a result of being on medications. currently, there are 50-plus million Americans retired and only 14% have a long-term care policy that's only $7,000,000 out of 50 million.
43 million Americans are in retirement with no long-term care policy in place but yet, 70% of current 65-year-olds will need long-term care services.
This is a massive long-term care dilemma.
The financial burden of long-term care that will be forced upon the spouse and children will create a massive future retirement shortfall for all those involved.
The problem is this: long-term care is super expensive and your long-term care premiums can go up every 5 years..
Case study:
A long-term care policy with a daily benefit of $150 for 3 years with a maximum payout of $164,250 could cost a female who purchases this plan at age 60 in standard health over $130,000 between age 60 and 90.
A female age 30 in good health who purchases this new life insurance policy that provides a lump sum benefit up to $184,000 will only pay $91 per month guaranteed.
If the person in this example keeps this new life insurance policy not only until age 60 but keeps it until age 90 the total premiums paid would equal $65,520
Compare paying $65,520 with guaranteed premiums over 60 years versus paying over $130,000 for just 30 years between the age of 60 - 90!
This isn't your grandma's life insurance policy.
With the long-term care policy if you paid over $130,000 and you died peacefully in your sleep never needing the Long-term care services your beneficiaries get zero... nothing not even a refund of the $130,000 plus in premiums you paid.
However with the new life insurance if you were to die at age 90 peacefully in your sleep never having to use any of the long-term care or chronic illness benefits your beneficiaries in this example would get $250,000.
One more important note: If after 20 years or 25 years, you decide this policy is no longer needed you can receive 100% of your money back guaranteed with the new life insurance plan.
This new kind of life insurance policy is the ultimate protection policy it is the ultimate asset protection, this is why I call it the....*FBI Protection Plan*... "Foreclosure Bankruptcy Income Protection" plan,
I created an entire special ebook report on this topic.
The sooner you can get a plan like this in place the sooner you'll have peace of mind knowing your retirement income is protected.... your spouse's income is protected..... your children's income is protected against your chronic illness or long-term care illness potential needs.
I hope you can now understand why I say "This Ain't Your Grandma's Life Insurance Policy"
If you have a life insurance policy and are not sure if it has any of these benefits you need to book a discovery call ASAP.
If your policy is more than 5 years old there's a very strong chance that you have a limited benefits life insurance plan...one that doesn't offer all of the benefits I mentioned in this post.
If your policy doesn't give you the option of receiving 100% of your money back after 20 or 25 years, please make sure you reach out to my office today.
I'll help you determine if exchanging your old plan for a new plan is right for you!
The FBI protection plan "Foreclosure Bankruptcy Income Protection Plan"....
*This ain't your grandma's life insurance policy*
