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Enter/Exit Life Insurance Contracts

Let’s have a conversation today about the entering and exiting of a life insurance contract. What difference should it make at all when I enter in and when I exit out? Much of the life insurance that is sold today (primarily via the internet, radio, or television) is short-term “term insurance” that puts many of the decisions in the hands of the insurance company. Now we all know when we’re young, life insurance is something that we should own to protect ourselves, protect our families, and protect our loved ones. But the question is: if we’re just looking at the cost and how cheap it is for the moment, the question is what happens when there is an exit that we don’t necessarily want to participate in?

 

Most term insurance products that are offered to the public right now are often ten-year level term insurance or twenty-year level term insurance that after the ten or the twenty years, the insurance company, even if you still want their insurance, they exit out of the contract. So, a person might have a $100,000, a $250,000, a $500,000, or a $1,000,000 worth of life insurance for ten, fifteen, or twenty years, but when that time lapses, you went from one day that you have an asset of a million dollars to the next day it is totally gone. It’s something that you can’t keep even if you want to.

 

If you want something that you can keep for your whole life, there’s a way to be able to do it and a way to be able to do it economically. This will allow you to have the freedom to allow you to be in the driver’s seat so you can decide when you enter into the contract and IF and WHEN you exit it. You can learn more about this from my book Investments Don’t Hug: Embracing the Life Insurance Asset, and if you would like to know more about my book, simply explore my website at www.investmentsdonthug.com.  

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