Ben Needs a New Car, But He’s Got Whole Life Insurance
Everything has been going according to plan for Ben. After 3 years with his whole life policy, he notices that his car is pretty beat up and starts to think that he needs to get another one soon, or he’ll find himself without one. His situation doesn’t seem too different from before except that instead […]
Differences in Accessibility Between Life Insurance and IRA’s
“Make plans by seeking advice; if you wage war, obtain guidance.” (Proverbs 20:18) The government did not invent life insurance. This is good news to you as an owner of some of it. Because the government did invent all Qualified Plans (such as IRA’s, Roth IRA’s, SEP IRA’s, 401k’s, & 430b’s, etc), there is a […]
Ben Doesn’t Have Any Extra Money, So How’s He Going To Fund His Whole Life Policy?
It’s one thing to decide that you love what a whole life policy can do for you, but it’s a whole other thing to find the money to pay for it. Ben was perplexed by this. For years he had done what all the financial talking heads said to do with his money, but he […]
Premiums and Overfunding Life Insurance
“At that time the kingdom of heaven will be like ten virgins who took their lamps and went out to meet the bridegroom. 2Five of them were foolish and five were wise. 3The foolish ones took their lamps but did not take any oil with them. 4The wise, however, took oil in jars along with […]
Ben Wanted to Own Something!
“The rich rule over the poor, and the borrower is servant to the lender.” (Proverbs 22:7) As Ben contemplated the big change he was going to make from the standard financial advice that most Americans follow, but for whom it doesn’t work, he began to think about life insurance in a new way. He still […]
How Does Life Insurance Work?
“For by the grace given me I say to every one of you: Do not think of yourself more highly than you ought, but rather think of yourself with sober judgment, in accordance with the measure of faith God has given you.” (Romans 12:3) The kind of life insurance that you want, whole life from […]
Ben’s Story of Whole Life in Action in His Life
Ben & Kim have a regular American family. The have two kids – Jack and Rick – who they love with all their hearts (and probably spoil just a little too much!). They’ve done okay financially, following a lot of financial advice that they’ve heard over the years. They’re no experts, but Ben tries to […]
How Do Life Insurance Tax Benefits Compare to IRA’s/401k’s?
“Be sure you know the condition of your flocks, give careful attention to your herds; for riches do not endure forever, and a crown is not secure for all generations.“ (Proverbs 27:23-24) When the US government changed the Constitution to make legal the income tax, they applied it to certain types of income. Over the […]
Permanent Life Insurance as a Savings Vehicle
“Misfortune pursues the sinner, but prosperity is the reward of the righteous. 22 A good man leaves an inheritance for his children’s children, but a sinner’s wealth is stored up for the righteous. 23 A poor man’s field may produce abundant food, but injustice sweeps it away.” (Proverbs 13:21-23) Life insurance is a severely misunderstood […]
Roth IRA – Differences from Traditional IRA’s and 401k’s
We’ve spent the last 10 posts covering the many facets of Qualified Plans (which include traditional IRA’s, 401k’s, 403b’s, SEP IRA’s, etc.) Today we’ll look at the differences and similarities between these more traditional types and the newer Roth IRA’s. Roth IRA’s allow you to put money into a tax deferral vehicle just like the […]
