Why Do Wealthy People Buy So Much Life Insurance?

Every week, Doug Andrew posts answers to questions on his 3 Dimensional Wealth YouTube channel. Recently, Doug was asked why wealthy people buy so much life insurance–especially later in life.

This seems to fly in the face of conventional wisdom. Especially when these wealthy people are buying more life insurance in their 60s, 70s or even their early 80s than they ever purchased before. They don’t need the death benefit to replace money that they have, so why do they do it? Do they know something that you should know?

CHECK OUT THIS SYNOPSIS OF JUST A FEW OF THIS WEEK’S TOPICS:

  • What are the 3 marvels or miracles of wealth accumulation? Doug explains how self-made millionaires understand and apply these principles to grow their wealth.
  • Why is compound interest such a powerful tool for wealth accumulators? Doug has a great object lesson involving a folded piece of paper that makes the power of compounding clear.
  • How does tax-free accumulation differ from taxed-deferred and why does this difference matter? Learn how the folks who are currently saving in IRAs and 401(k)s stand to lose nearly a third of their savings to taxes.
  • What is safe positive leverage and how does it aid in wealth accumulation? Discover how it’s possible to own and control assets with very little of your money at risk in that asset.
  • Can you name the four things you can do with money? Doug spells out what those things are and how to make each of them work in your favor.
  • Why do so many banks and credit unions put so many of their tier 1 assets into insurance companies? Doug explains the advantages of doing so as well as why insurance companies have been considered a safe haven for generations.
  • And much, much moreā€¦

Start by visiting with a IUL Specialist today.

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