If you develop a serious medical condition, you can be banned from whole life insurance (or any life insurance contract!).
This is fairly well-known, but there is a way around it: Term insurance.
With term insurance, your ability to be insured is “locked in” — even if you develop cancer or another fatal disease decades later.
You can convert your term insurance into a whole life policy. The benefit is that you can ensure your ability to create and grow your own personal banking system.
In today’s episode, you’ll discover how term insurance can be an integral part of growing your banking system and how it can allow you to build upon your nest egg in the years to come.
Show Highlights Include:
- Interested in creating a tax-free personal banking system? Here’s why you should only use whole life insurance (rather than other types of “permanent” insurance) (3:22)
- How to boost up your life insurance coverage if the whole life death benefit is too expensive (this is a great way to get started if you can’t afford whole life just yet) (4:25)
- The simple way term insurance allows you lock in your insurability and open new whole life contracts (even after you might be considered uninsurable) (5:52)
- How to receive coverage after a disease that would normally leave you uninsurable with term insurance (8:19)
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