Alex is talking to Sarry Ibrahim who is a financial planner and member of the Bank On Yourself Organization. They discuss how a whole life insurance policy can provide both life insurance and have a cash value – providing the equivalent of a savings account within the policy.
With his expertise and experience in life insurance policies, Sarry shares great advice and content about this type of policy and how it can be effectively used as a financial strategy to grow wealth.
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KEY TAKEAWAYS
Whole life insurance has 2 purposes the actual life insurance part and the cash value part
It’s like savings account within the policy.
It has a cash value that grows over time and pays dividends to you.
You can fund the policy monthly with a portion going to the cash value and the other to the life insurance.
The cash value will build up over time and you can get a policy for up to 25x your annual income.
You can have a policy for different amounts of time and this will be dependent on individual circumstances and requirements.
You can’t borrow more than you have put in over the first 2 years and a policy will typically breakeven on year 3.
Insurance companies have the highest guarantees when it comes to your money
It’s an efficient way to pass on wealth to the next generation.
BEST MOMENTS
‘Your policy continues to grow and you make money’
‘In business, you always need liquidity of cash and to be able to move it around’
‘It’s possible for an individual to have multiple policies’
VALUABLE RESOURCES
Business, Wealth and Mindset podcast series
ABOUT THE GUEST
Sarry Ibrahim is a financial planner and member of the Bank On Yourself Organization.
He helps real estate investors, business owners, and full-time employees grow safe, predictable, and guaranteed wealth regardless of market conditions using a financial strategy that has been around for over 160 years.
Sarry can be reached at finassetprotection.com.
ABOUT THE HOST
Alex is a prize-winning chartered accountant with experience in financial markets from trading finance, capital hedging, structural foreign exchange and interest rates to operational risk from the world’s top financial and advisory institutions including Deloitte, RBS and JPMorgan Chase
Alex has been involved in property development programmes across different types since 2008, building and managing a portfolio that includes standard buy-to-lets, student accommodation and other houses in multiple occupancy (HMOs).
He specialises in raising finance, providing potential investors, investors and joint venture partners with ad hoc (to their specific requirements), hands-free and hassle-free property investments solutions as well as coaching and mentoring
Alex aspires to share business and financial knowledge with upcoming entrepreneurs and experienced business minds to learn and master the concepts and mindsets required to succeed, stand-out, have the edge and make a difference.
Alex is also a keen traveller, cyclist and photographer.
CONTACT METHOD
Facebook
https://www.facebook.com/alexsapalaofficial/
Twitter - @alex_sapala
https://twitter.com/alex_sapala
You Tube
https://www.youtube.com/channel/UCgZ1DCPGAu5c2yhOkfGZRSQ
