Out of the hundreds of thousands of people who use the Bank On Yourself method, not one lost a penny in their plans when the markets crashed. Their plans have all continued growing safely and predictably, just as they have for more than 100 years, even during the Great Depression. Walt Disney and J.C. Penney were right!
“I see people who are literally losing sleep because they’re worrying about their variable life insurance policies,” says Michael Kortz, a San Clemente, California, financial planner who specializes in life insurance.
High premium aside, high risk life insurance offers you the opportunity to take control of your future and ensure that your loved ones will be spared any financial hardships after your demise. This type of policy lets you prove to yourself that circumstances cannot overcome your will to protect your spouse, children, or other relations, and that, despite serious illness or hazardous professions, you are still ‘the master of your fate and the captain of your soul’. With high risk life insurance, you can be an effective provider for those who depend on you, regardless of your situation.
You should get these types of a policy, that can give your loved ones highest gain. For that reason, you need to think about some important info ahead of acquiring your insurance.
Many variable life insurance policies have been minimally funded in hopes that stock market gains will help fund their policy. A large amount of policies were sold with the assumption that the stock market would consistently provide big returns. But with the recent stock market plummet these policies face serious risk. Depending on which subaccounts have been selected, a policy may experience a 30-50% decline in policy value which could be devastating to the policyholder.
According to industry statistics, 97% of MLM’ers not only fail to reach their dream of achieving financial independence, they become so discouraged by the hardships of recruiting others they quit.
If you are in poor health, a standard immediate benefit policy will be your safest course of action. These policies tend to be a bit more costly, but if you pass away before a certain amount of time has gone by from the instatement of your policy, 100% of the benefits will still be immediately available for your funeral arrangements, medical bills, and inheritance for your children or other loved ones.
Anil Sahgal, director of strategy and chief investment officer, Aviva Life Insurance, says: “The intent of the Budget speech was to bring equity between mutual funds and Ulips which, perhaps, is not the case according to the illustration given in the Finance Bill.”