In our 2nd video of life insurance, Hadielia explains how loved ones access the death benefit and explains how life insurance can be used as an investment.
How do you access the life insurance policy when a loved one passes?
-> Need to know who the insurance company is
-> Provide them with the death certificate
-> Start receiving death benefit, tax free
Why is life insurance used as an investment? How else can it be used?
-> Permeant life insurance can act as an asset class, where there is an investment portion and the death benefit portion
-> The earning on the investment portion are tax sheltered (don’t pay taxes on it)
-> The Cash Surrender value of your policy be used as a collateral for loans
What are you curious about with life insurance?