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Why Are Wealthy People Buying So Much Life Insurance?

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Why Are Wealthy People Buying So Much Life Insurance?



The “Rich” theoretically don’t need it, right? Yet they are the biggest buyers of life insurance. Do they know something you don’t? Maybe. One thing’s for …

10 COMMENTS

  1. Don't buy any life insurance plan with cash value. 90% all these insurances are BS. Look up all the headquarters for these scammers and go figure. Just buy term life and invest the difference that is all.

  2. I disagree with the idea that "life insurance is a good investment." The best way to retire is to consistently invest in your 401(k)/Roth IRA/IRA/etc., buy very cheap term life insurance policies during your wealth building years and when your nest egg is big enough to live off of the capital gains & interest (also known as retirement with dignity!) then you can take this $10,000 per year and invest it to create an even larger inheritance. Or spend it on some very nice vacations with your family. Or give it to charity.

  3. Byron, great explainer video. I'm an advisor with Northwestern Mutual and I have this conversation with clients regularly. Your language excellent. Thank you for your work toward helping people achieve financial security.

  4. It's tax deductible on corporate tax. Adjusted for inflation, you lose money in most life insurance payouts. If government helps subsidize it, that changes the math.

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