Perspectives on IBC with Chris Tormey - Part 6: Isn't It Better to Buy Term?

Perennial Pride

Tom and Chris discuss the “buy term and invest the difference” strategy, which advises purchasing term insurance for temporary coverage while investing the cost difference in the stock market. They emphasize the benefits of diversification in investment portfolios and suggest considering various risk assets. They also discuss the advantages of whole life insurance as a risk management tool, providing stability and liquidity during financial hardships. Take a listen to her more about this and how it can benefit you!

Highlights 01:01 One of the rules around IBC: To rethink your thinking. 03:56 Migration out of pensions and into self-managed investments 10:30 Importance of diversifying your investment portfolio, not just stocks 17:58 The concept of "self-insurance" and the importance of building large assets 22:02 Life insurance transitioning from income protection to asset protection 24:15 Impact on Social Security income when a spouse dies and how life insurance can alleviate the financial loss 29:59 Diminishing popularity of whole life insurance amidst a culture of riskier investments 31:16 Importance of designing a financial foundation that allows your dollars to perform multiple jobs 32:04 Borrowing concept as part of a whole life insurance policy

Episode Resources

• Connect with Tom Suvansri
• https://perennialpride.com/
• https://www.facebook.com/perennialpride/
• https://twitter.com/perennialpride
• https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
• Connect with Chris Tormey
• https://www.monecoadvisors.com/team/chris-tormey
• https://infinitebanking.org/agents/tormey653/

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