Access Wealth Strategies

A few weeks ago I interviewed Korbett Roberts from Benefit Concepts on the subject of life insurance.

Now life insurance may not be an exciting topic at first glance. However, getting a life insurance policy is one of the most important decisions you will ever make, which can greatly impact the lives of your loved ones far beyond your lifetime.

With the myriad of choices on the market today and conflicting advice from salespeople, it can be very difficult to identify what kind of life insurance you really need to properly protect your life’s work and your family’s lifestyle.

Korbett and his team at Benefit Concepts are experts in using life insurance as a strategic asset to serve a variety of purposes including estate planning, business succession, retirement cash flow, etc. for their clients, most of whom are affluent business owners with over $10 million in net worth.

Click to listen below to this informative 2-part interview which covers a surprising array of creative uses of life insurance that you may not know about.

Part 1 of this interview (28 min.) covers:

• Life insurance in a nutshell
• Some examples of the benefits of owning a life insurance policy
• What kind of protection is there from law suits and creditors?
• Term vs. permanent
• What kind of tax benefits are there?
• Getting cash flow via a policy loan
• How can a business benefit from purchasing life insurance?
• How does life insurance fit into estate planning and keep your estate out of costly and public probate?
• Why you should be concerned about your state’s estate taxes
• What are the disadvantages of buying and owning life insurance?

Part 2 of this interview (24 min.) covers:

• How to choose the right life insurance agent for you
• What questions should you ask an agent before working with him or her
• What are the most common mistakes people make when purchasing life insurance?
• What is the most important thing to get right when purchasing a policy?
• What is life insurance portfolio analysis and why is it critically important especially if you have purchased a policy in the last 3-4 years?
• How Benefit Concepts helped a client turn an unneeded policy from a $250,000 annual expense to a $2 million gain
• What does it mean to “leverage” life insurance?
• What are some ways to fund a life insurance policy without using current cash flow?
• How to compare a life insurance policy performance to other investment vehicles to know you’re putting your money in the right place?

To learn more about this topic or ask follow up questions, contact Korbett Roberts at Benefit Concepts.

Please comment below and tell us how you liked this interview and how we can make it better.

Many of us have a substantial amount of our net worth and investment capital in our retirement accounts: IRAs, 401Ks from previous and current jobs, etc.

Most of the time, funds in these accounts are invested in just a few mutual funds and maybe some stocks and bonds approved by your plan administrator, typically a stock brokerage firm or mutual fund company — not surprisingly, these firms have conflicts of interest in restricting your investment choices to products they sell.

After the recent stock market turmoil, you may be wondering:

Are there better options than the typical stocks, bonds, mutual funds that I can invest in through my retirement account?

If you already love alternative investments (such as real estate, notes, private equity business ownership, etc.) or buy alternative assets with non-retirement money, you may be missing an opportunity to purchase these same assets with money in your retirement account.

What you might not know is that the IRS allows you to invest in many other types of assets in your retirement accounts – you just have to work with a truly “self directed” account administrator.

Interview with Kaaren Hall, President of uDirect IRA Services and Self Directed IRA Expert

Today, I interviewed Kaaren Hall, who knows all about investing through self-directed IRAs.

Listen to this 29-min. interview and find out how you can take control of your retirement, because “no one cares more about your money than you”!

This interview is jam packed with valuable content and will answer many questions you may have regarding self-directed IRAs. Please comment and let us know what topics you would like us to cover in future interviews.

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