moneyFYI
Financial Freedom Is Merely Organized Common Sense
Tag: life insurance
Protect What You Have Earned
If you follow hockey, you will notice that many injuries result from late hits. Some might say dirty hits. A player cannot risk being in a vulnerable position. In simple terms, protect yourself because you cannot expect others to do it for you. In… Continue Reading “Protect What You Have Earned”
Share this:
Apply Sutton’s Law With Every Client
Willie Sutton was a bank robber who spent more than half his adult life in prison. Despite his unenviable career, he had good ideas that translate into other realms. One of his famous ideas was an answer to a reporter’s question, “Why do you… Continue Reading “Apply Sutton’s Law With Every Client”
Share this:
The 30-Second Life Insurance Interview
If you work in the family market for life insurance, you might want to try this interview. Since it only takes about 30 seconds, you could theoretically have a lot of rejection and still be okay. Do you have a will? If No, “If… Continue Reading “The 30-Second Life Insurance Interview”
Share this:
Bank Offered Life Insurance
There was a sign in a variety store near my old home. “We have a deal with the bank. We don’t cash checks or give credit and they don’t sell groceries” That seems a fair division of duties. However, unlike groceries, banks will get… Continue Reading “Bank Offered Life Insurance”
Share this:
Life Insurance Lets You Die Neat
Will Rogers once said that, “Just because a thing is common sense, does not mean it will be common practice.” Not much has changed in the 80 years since. As an example, the most valuable asset most people have is the ability to earn… Continue Reading “Life Insurance Lets You Die Neat”
Share this:
A Disturbing Question
All life insurance salespeople regularly meet people who are delusional about how much capital is needed to replace their career earnings. According to LIMRA, in Canada, insured husbands have enough life insurance to replace their income for 4.1 years, and wives for 4.6 years. What… Continue Reading “A Disturbing Question”
Share this:
Einstein Was Wrong
Einstein reputedly said “Compound interest is the most powerful force in the universe.” I suppose it is possible that he said that, but I doubt it. Compound interest was not a point of discussion when Dr. Einstein was young and was barely considered by… Continue Reading “Einstein Was Wrong”
Share this:
Life Is Like Juggling.
I found a scholarly paper on Juggling. ORG that points out that while many people can juggle 9 balls, and a few can juggle 12, no one can presently juggle 13 balls. It claims that 15 may be possible, but the problem is how… Continue Reading “Life Is Like Juggling.”
Share this:
Business Owners and Life Insurance
Let us suppose you have a business worth $3,000,000 and other assets worth $1,000,000. Everything is looking good. I approach you about life insurance. You suggest that the business is your estate. The wife and children will have $4,000,000 in the event of your… Continue Reading “Business Owners and Life Insurance”
Share this:
Mortality Experience
In Canada, the mortality experience is identical to that in every other country in the world. One death per lifetime. In other words, death is certain. A death benefit under a life insurance policy is then not probabilistic, it too is certain. That clear,… Continue Reading “Mortality Experience”
moneyFYI 