To use dividends to purchase paid-up additions, you just elect the paid-up additions dividend option.
The other way to purchase paid-up additions is through an elective rider. You choose this rider and make payments to the rider to purchase paid-up additions with your own money. Essentially, you elect to pay the insurance company more money than it requires to.
In this blog we are going to concentrate in the definition of paid-up additions and in future blogs we will be going deeper into the types of paid-up additions riders and how to use them to maximize the cash values of your whole life policies.
Paid-up additions are mini paid-up whole life policies that attach to your base whole life policy. They have a death benefit and a cash value and as its name implies, they require just one single premium payment and they are forever paid-up. In other words, you keep the death benefit of the paid-up additions and its cash value without ever paying any additional premiums.read more
Although you may be discouraged of your progress in some areas, we are sure that you will be proud of your accomplishments in other areas, and perhaps one of them for many of our clients is your success towards achieving financial independence.
We define financial independence as a financial situation in which you have enough money set aside to take care of unexpected financial challenges and also enough money to take care of opportunities that become available to us. Believe us, when you have money available, opportunities are constantly knocking at your door.read more
The Infinite Banking Concept is a process in which you accumulate cash value in a properly-designed whole life insurance policy. This cash value is used as an emergency/opportunity fund.
At any time, your cash values are doing double duty: they allow you to leverage them into other assets and at the same time they continue to earn interest and dividends for you.
Are you financially self-reliant? If not, decide to develop your own financial stability through taking control of your earning power, developing multiple streams of income, saving all you can, and concentrating on reliable investments with known or guaranteed returns. That way, even in times of stormy economic weather, you will find yourself on solid ground.read more