In this episode Gino Barbaro discusses why he purchased whole life policies for each of his six children. One day they will need a place to put their savings, and what better place than in a strategy with many benefits, that can growth tax-deferred, and with the ability to take money out in the future tax-free.
A whole life insurance policy on your child can be leveraged to pay for things like books, computers, college, starting a business (alternative to college), and even weddings.
As Nelson Nash talks about in his book Become Your Own Banker there is immense value in starting policies on children, grandchildren and great grandchildren as EARLY as possible.
How will your child’s health change over their lifetime? These policies are permanent, meaning guaranteed coverage for life. Your child or grandchild will get a lifetime of life insurance protection, regardless of changes in their health or occupation- as long as premiums are paid.
If your kids have extra money from Christmas or part time jobs, they COULD be contributing to something long-term, that will teach them borrowing from yourself and paying yourself back.
This is the financial education your kids won’t get from school today.
#NelsonNash #BecomeYourOwnBanker #WholeLifeInsurance #RealEstateInvesting #FamilyValues #Legacy #GenerationalWealth
Our Team was directly mentored by Nelson Nash and has over 100 years of experience in whole life. Schedule a consultation with us today to get started: www.100yearrei.com/callnow/
Download our eBook on how you can leverage on our Dual Asset Strategy and become your own source of financing: https://100yearrei.com/ebook-download/
The Whole Life Insurance Policies offered by the 100 Year Real Estate Investor are specially-designed. This means they work harder toward achieving your financial objectives, no matter what they may be. Check out this blog for 7 facts about our specially-designed strategies that may not be true about typical whole life policies: https://100yearrei.com/7-facts-about-specially-designed-whole-life-policies/
Each Member of the 100 Year REI Team is a Bank on Yourself® Professional, and are experts in the Infinite Banking Concept®. We are licensed and service clients nationwide. All Team Members collectively own 35 policies and specialize in working with Real Estate Investors.