BOLI or Bank Owned Life Insurance continues to be a popular investment option for banks. As of 2019, in the third quarter, about 3800 banks own $190 Billion in BOLI policies.
While BOLI may cover a small part of a bank’s assets, the resulting financial failure from it can be impactful. This short guide will give you everything you need to know about investing in BOLI plans.
What is...Read More
As of 2018, 58 million workers in America were actively participating in 401k planning. For many, opening and contributing to a 401k becomes an option through work and while it is often encouraged, it is not always explained.
If you have a 401k or are considering opening a 401k, it’s important that you know a little bit about how it will work and what it will mean for your personal...Read More
You may not have heard a lot about a 770 account, or you may know it by one of its other names. The 770 account is one of the latest and most talked about topics in the world of finance and investments. That’s because the average American tries to save about 10% of what they make or earn every year and sometimes has a hard time getting to 10%.Most people put their savings into the same type...Read More
If you would like to increase the value and practicality of your life insurance plan, adding a paid up additions rider also known as PUA could be a great strategy for you.
This insurance add-on is a smart move for anyone seeking financial freedom. But how do you know if a paid up additions (or PUA) rider is right for your needs?
Read on to learn everything you need to know about paid up...Read More
Do you feel cash poor? The average American between 35 and 54 years old, has around $130,000 of debt. If you’re in this category, it doesn’t mean you’re poor and have no money. Very likely you have an excellent job with a healthy income; maybe you’re a dentist or other high earning professional. However, much of that income could be tied up with existing financial...Read More
Life insurance is one of those topics many of us like to avoid. No one likes to think about their own death, and the idea of having a policy that will provide for your family after you’re gone is just depressing. But what if we told you your life insurance policy can actually help give you the life you want, rather than the death you don’t?Your life insurance policy can be an amazing tool...Read More
Cash flow is one of the most important components of financial health. Inadequate cash flow is the reason 82% of small businesses fail, and it is also one of the causes of personal debt.
If you want to grow your financial stability, you need to focus on putting measures in place to ensure reliable cash flow for yourself and your family.
One way to do this is through cash flow insurance...Read More
A recent study shows that only 11% of Americans strongly feel that they are financially secure. Are you part of this 11%? If not, you may be interested in learning more about becoming your own banker.Research has revealed that financial security is the leading source of happiness—and stress. Financial instability can affect your family, your future, your health, your children’s...Read More
A shocking number of Americans live paycheck to paycheck. Surveys show that 74% of all employees live month-to-month, and more than 25% of families earning a six-figure income do the same. Why are so many people so hard up and in poor financial shape? In many cases, the answer to this could lie in the mismanagement of money and escalating debt cycles. The more you earn, the more credit you are...Read More
Life insurance is a contract between two parties, the policyholder and the insurer. The policyholder pays a premium to the insurer, and then the insurer offers a benefit when the policyholder dies. The benefit is a sum of money intended to ensure financial security to dependents of the policyholder after their death. In this article, we will look at specific types of life insurance called...Read More