Antoine

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So far Antoine has created 34 blog entries.

Participating (PAR) Whole Life Insurance

There are different forms of Whole Life insurance serving different purposes.  Participating (PAR) Whole Life insurance is a type of insurance that shares in the profits of the policyholders, through a policy dividend.  In the United States, the mutual company is favored for this type of insurance for the fact that the participating policyholders share [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Partial Surrender/Disposition

A partial surrender is the term used to describe withdrawing cash out of the policy as a direct “cash withdrawal” (see ”Cash Withdrawal”).  Its name comes from the fact that you are surrendering a little (or maybe larger) piece of your policy when you withdraw money out of it.   When properly set up, a [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Paid-Up Additions – PUA

    This is the policy dividend option that we recommend to enable all of the options and concepts in this book.  You could choose a different policy dividend option, but in doing so, you would change how your policy operates and grows over time.  The Paid-Up Additions are what the dividends buy, and they [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Opportunity cost

  Opportunity cost is what you lose when you let dollars go unnecessarily to a financial institution (possibly in the form of fees), the government (possibly in the form of income taxes), or any third party (possibly in the form of having money locked-in or simply being spent), and are missing a better investment opportunity. [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Non-Forfeiture Clauses

  Non-Forfeiture Clauses Each Whole Life insurance policy contract contains what are called non-forfeiture clauses.  These are designed to keep the policy in force if a client is unable (or unwilling) to pay the required premiums.  Since insurance companies actually want you to keep your policy in force, rather than lapsing it completely (lapsing means [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Life Insured

  Life Insured There are four main parties to every life insurance contract: the life insured, the policy owner, the beneficiary, and the insurance company.  The life insured is the person on whom the policy is written.  Every insurance policy must have a person whose life is associated with it, to determine when a death [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Interest Cost on Policy Loans

  Interest Cost on Policy Loans Interest costs as it pertains to Whole Life insurance is the amount the insurance company charges you, when you borrow their money through a policy loan.  Yes, you are borrowing THEIR money; your cash value is the collateral.  The loan interest rate that life insurance companies use is usually [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Insured Retirement Program – IRP

Many affluent Canadians use Whole Life policies to accumulate retirement savings beyond what is allowed within their registered plans such as the RRSP.  The Insured Retirement Program (IRP) uses the life insurance policy as collateral security for a line of credit, which then can be used to create a stream of tax-efficient income during retirement. [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Guarantees

  Guarantees A major part of the reason why Whole Life insurance is such a great wealth building tool, is the guarantees that it provides.  In our current investing world, there are very few things that can promise any degree of a true guarantee.  Whole Life can not only use the word “guaranteed” with its [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Dividends

Policy “dividends” are a unique feature of Participating Whole Life insurance unlike any other product.  The word “dividend” in this context is a confusing term since it does not perform like a stock dividend.  Policy Dividends are technically a return of overpayment of premiums.  All policyholder premiums go into a segregated account to form the [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments