Podcast#31 – Hacking Life Insurance for Tax Free Double Dipping

Term life is like renting a home. You get to take advantage of living in the property but have no control of the house, there is not equity build up, no tax advantages, no appreciation, and when you move you take something with you. Term is inexpensive.
Whole life insurance is like buying a home. There are great tax advantages, equity build up, appreciation due to compounding interest, and it is an asset you can list on your balance sheet. Whole life has more up front costs, but you can get a total return of premium within the first 5-10 years into the policy.

 

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