Welcome back Folks - thanks for joining me for Part 2 in our series on the very important topic of permanent life insurance and how a plan like this can help ensure your family's financial security. If you missed Part 1, you can take 3 minutes to watch the video by clicking right here...
Click to watch Part 1
In Part 1 we learned the basics of concept of T.I.R.E.D. It's an acronym that will help you understand the many important benefits of a permanent life insurance plan and how this type of plan can help to ensure the financial security fo your family. Here's a brief summary of the elements of T.I.R.E.D. Be sure to watch all of both videos to get the whole story.
T Tax deferred cash value build up
No taxes are paid on the cash value build until funds are withdrawn.
I Income replacement
This is where income is replaced after the death of the insured party (70%)
R Retirement Benefits
This is a monthly check known as retirement income, which offsets living expenses
because the client is no longer working
E Emergency Funds and/or Education Funds
This amount needs to be equal to at least 8 or 9 months of your monthly income
D Disability Provision
In the event of sickness or injury and as a consequence the client can’t work; the disability
provision allows an income to sustain a family.
As always, please reach out to us to discuss your needs.
Peace, love, and gumbo!
Marvin LeBlanc, LUTCF, CNP
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