You’re Still Young. Now is the Time to Invest in Life Insurance
That stock portfolio isn’t looking too good these days, your 401-K is worth less than what you put into it, and you’re upside down on your mortgage. Are there any safe investments anymore? You’re still young. Now is the time to invest in life insurance. Why? Your financial planner probably bypassed this option because there wasn’t any commission in it for him, but for you there’s a cash value and a payoff at the end that will take care of your family and loved ones. If you have children or want to have them, you can understand the importance of that.
You don’t have to die to benefit from owning a life insurance policy. Here at McCormick Insurance Solutions, we offer life insurance options that build cash value while you’re alive, giving you the dual benefit of long term security and present day net worth. Using our whole life or universal life options you can create an asset that is essentially a savings plan for the future. It’s also one of the safest investments you can make today in what has become an increasingly unstable financial market.
Do Financial Advisors Recommend Life Insurance?
Disturbingly, according to a recent survey conducted by Saybrus Partners, Inc, less than half of adults who work with a financial advisor have been urged to add life insurance to their financial plan. Is this because life insurance isn’t a good investment? No, it’s simply not a high commission investment for the advisor. The financial gains of a life insurance policy go mainly to the policy holders and their beneficiaries. With a stock or mutual fund investment, the profits go in the pocket of the advisor, whether you make or lose money. There’s no incentive for them to keep your best interests at heart.
The average investor doesn’t typically ask about life insurance because they are inundated with phone calls, emails, and television commercials all trying to sell them term life insurance. No one likes to have a product constantly thrust upon them, so the general perception is that its hands off. That is, of course, a reaction and not a decision based in fact. Even term life has its advantages if all you’re looking for is a death benefit. Whole life and universal life give you even more than that.
Creating an Insurance Investment Portfolio
Insurance is not an expense. It’s an investment. When you take out homeowners insurance on a property you’ll own for twenty or thirty years, you’re actually saving money over the long run. If you buy a new car and plan to drive it for over 100,000 miles, the repair bills you’ll avoid by having auto insurance more than pay the premiums for the policy. Life insurance gives you even more. Your loved ones will be taken care of when you pass and you can build a valuable asset while you’re here. Now that is an investment portfolio – one that won’t disappear if the stock market crashes again.
Call our Bay Park, San Diego office at (619) 276-0492 and ask to speak directly with Wayne McCormick. He’ll provide you with a personalized life insurance consultation at no cost.