From the Desk of: Todd Gregory
Are you this type?
You always go for the better price…
It’s called “price protection,” a little known credit card perk which some credit cards offer. If you buy something and it goes on sale, you can call your credit card company--and they’ll refund you the difference.
So, if saving money appeals to you, and you own a Whole Life or a cash-value Life Insurance policy, read on….
You purchased Whole Life or a cash-value Life Insurance policy because you liked how it protected your loved ones.
But you probably also bought it because of the investment opportunity it gave you. While it was insuring your life, it would also accumulate cash value for the future.
Best of all, you could grow your money in a safe environment. You didn’t have to worry about it because it was supposed to grow at a decent rate of return.
But is it living up to your expectations?
If you bought your policy before 2009—you could be PAYING TOO MUCH!
The Life Insurance industry doesn't aggressively communicate with customers that they can trade in their obsolete products for a new, improved version. Millions of policies written eight or more years ago can be outdated. Any policy that old has a premium schedule based on out-of-date mortality rates (which determines the cost of insurance—the amount you pay to be covered) and out-of-date crediting options.
It’s high time you began treating your policy the same way you treat a savings account, money market fund, stocks, bonds, commodities, real estate, or any other investment you make. You need to get the BEST return on your money.
It is YOUR life savings, YOUR nest egg, YOUR golden years you’re talking about.
What does that mean for you? If you have an older policy, you might be able to buy the same policy today for less money. And they’re not just less, they can be better policies. Better death benefits—and include living benefits for chronic needs such as assisted living and long term care costs.
A few life insurance companies have developed new products that significantly improve cash accumulation. They also have substantially increased the coverage. How? By drastically reducing mortality costs within these policies.
By and large, life insurance companies, with millions of policies in force, have a tremendous stake in maintaining the status quo. If you don’t ask about updated, better rates for policies, they won't typically tell you openly and freely.
But policy-holders ARE discovering these newer, better policies, and are switching--and they find that it’s really easy!
In fact, millions of people are getting permanent life insurance policies at the new, reduced rates—and are seeing better returns on their cash value in the policy.
Since 1989 the government has changed the standard 'mortality tables' three times. Mortality tables are the key to calculating how much your insurance is going to cost you.
Every time the government changes mortality table standards, the insurance companies are required to comply by pricing their life insurance policies accordingly.
This means that if you bought a policy the day after the rate table changed, your policy would be less expensive for the same amount of coverage. But again, the insurance industry doesn’t advertise this information far and loud to consumers.
Depending on your age and your sex and when you purchased your policy, you could be spending up to 70% or MORE than you should on your cost of insurance. And getting far less in returns on your money than you could.
Knowing this possibility exists, it's certainly a head scratcher about why the insurance companies don't more openly share the option with us.
These new products typically cost less, perform better, have higher death benefits for your heirs, and MOST IMPORTANTLY, they have moreliving benefits for the policy owner.
The ONLY way you’re going to know if you’re spending too much and not getting the best rate of return that you can on your policy is to call 417.881.3520. Ask for me personally!
And here’s the BEST part: if you qualify for a new policy, you can take advantage of a little-known IRS provision that allows you to exchange your old policy to a newer one with NO TAXES and NO GOVERNMENT PENALTIES.
JOIN the group that is changing their Whole Life to a new Life policy.
Call 417.881.3520 and ask for me.
We look forward to helping you optimize your life insurance policy!