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How Does Whole Life Insurance Work As An Investment? - YouTube
Channel: Kris Krohn
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what's up friend kris krohn here your
financial freedom fighter dedicated to
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your financial future in helping you
unleash your financial destiny
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I've been financially free from the age
of 26 and one of my life's purpose and
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passions right now is to help everyone
else figure out how they can get their
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life put together to live life on their
terms the way that they want I get
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questions all the time from people on
different financial philosophies and
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strategies because I definitely think
backwards than most people most wealthy
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people do and today what I want to do is
I want to have this conversation with
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you about a recent question I got on
life insurance and the question was how
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does life insurance work as an
investment so today I'm going to talk
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about it is life insurance and
investment is it an investment that you
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should care about and I'm gonna break
that down for you
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is life insurance a good investment
let's find out
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first of all let's understand what it is
there are two types of life insurance
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one is called term and the other is
called whole and whole life and term
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life are different from each other term
is really cheap and all you're doing is
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investing in your death benefit whether
it's a good investment or not yeah if
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you have loved ones that's an investment
that will take care of them whole life
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insurance what it does it actually has a
living benefit as opposed to just a
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death benefit which means that you can
get a benefit not just your loved ones
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you both can here's how whole life
insurance policy works number one when
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you put money every month into a life
insurance policy it's like a forced
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savings account as if you will a small
portion will go towards your death
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benefit let's say that I have a death
benefit of three hundred thousand
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dollars if I were to die and then let's
also say that I'm building some cash
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value I might have a payment of $400 a
month or $200 a month or $100 a month or
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or three thousand dollars a month or a
lot more for some of you they're using
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this as a rapid wealth strategy and a
small percentage will go to the death
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benefit and then the rest of it is going
to go towards building what's called
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cash value and this is money that you
can access from the policy if you set it
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up the right way here's some of the
benefits oftentimes with the banks that
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are out there that set up these policies
I call them banks because that's really
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what they are this is you setting up
your own personal bank and those banks
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guess what they're paying you they're
paying you five percent dude what's your
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bank paying you probably a whole lot
less and a normal bank if it is
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government insured will usually insured
up to 250,000 dollars here what I love
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about this type of Bank is that my money
is entirely untouchable what I mean by
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that is someone cannot litigate and
access this money and actually pull it
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out of the account it's yours which i
think is pretty awesome the third
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benefit that I really love about this is
that I can borrow my money out and what
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I can do is I'm going to build what I
call a tax shelter the tax shelter means
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this every time I make a payment every
month into building that
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account that pit gets deeper and deeper
and deeper I can borrow the money I can
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use it to invest I can use it for
business I can use it for a number of
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things and then when I pay the money
back my money gets to grow tax-free at
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that dividend rate how cool is that like
that's huge so based on this loan when
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people ask this question is life
insurance and investment how is it
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investment well for me it's an
investment different than the way most
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are looking at it check out my
perspective the world first of all says
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hey you're earning 5% that's
diversification that's better than your
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savings account that's probably not too
different than your 401k in your IRA so
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yeah it's a good investment this is
where I want to challenge that if all
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you're doing is earning 5% on your money
you're screwed you're never gonna be
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able to earn enough money for retirement
to get where you want to go because 5%
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compounding over time it is pathetic
you've got to start super young and
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you've got to be often committed for 40
years maybe 50 years but I have the
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ability to pull this money out and I
have the ability to put it into business
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I can put it into a number of other
vehicles for me I dumped that sucker
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right into real estate
why because I can get my real estate to
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produce 20% 25% I can produce much
bigger gains and I'm doing that on
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properties I'm buying every single day
of the week 20% is bigger than 5% in
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this scenario you can combine them
together and you can get the benefits of
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both of them when I say that whole life
insurance is a great investment I don't
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mean in and of itself I mean because in
and of itself I get a death benefit I'm
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getting a dividend way bigger than I'm
getting anywhere else no one else can
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touch it it's producing these awesome
tax benefits but I can pull it out and
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guess what I can do I can put it right
into the game of real estate and this is
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where it becomes extraordinary because
now I can layer my banking policy with
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life insurance and I can layer it on top
of my real estate and the two of them
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combined are significantly bigger and
way more successful than they would be
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apart if you have learned the discipline
of saving money then you should be
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saving money this way instead of just
putting it into a silly bank account
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because every dollar that you have here
gives you benefits that no ordinary or
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normal bank
could actually ever give you and number
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two it's going to eventually be time for
you to make your move
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there's gonna be an amazing deal a
business acquisition a business that you
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want to start a real estate deal
something where you're saying it's time
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to get some super leverage I need to
extend my arms of leverage and how am I
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going to do that I'm gonna do that by
accessing my whole life policy I'm gonna
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put it in my investment
give me an opportunity potential for
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some higher returns pick up dual
benefits my friends for me that is not
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only one of the most sophisticated
approaches to real estate investment in
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business but it picks up all these other
benefits that you can't find anywhere
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else now here's the downside you could
talk to anyone who sells life insurance
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and they would love to sell you a term
policy or whole policy but very few know
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how to structure a policy that gives you
all of the benefits designed for future
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investing which means that you've got to
find the people out there that know how
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to do it now I've only met three people
in the last decade that know how to
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structure these in a way that really
benefits you and I with our future
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investments and what I've done is if you
click the link below I'll give you
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immediate access to a list of the people
that I work with people I've worked with
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that I implicitly trust that have your
best interests at heart
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now whether you're just starting to get
ahead or whether you've been in the
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financial game for a long time the time
to set up a whole life policy that
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supports your investments is now the
longer you have it the better the
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advantage and if you already have a life
insurance policy but it's not designed
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to give you this benefit it is time to
make a changeover and the individuals in
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the link below can totally hook you up
help you out and get you exactly where
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you need to go
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hey my friends thank you
so much for watching today make sure
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that you ring that bell after you
subscribe because you're a subscriber
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right if you're subscribing you ring that
Bell I'll be able to notify you every
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day when a brand new video comes out and
just understand this channel is designed
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to strengthen your pocketbook and your
mindset at the same time so that you can
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live life on your terms because by the
way my friends you got this one life to
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live have it all
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