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With possible tax code changes looming, life insurance will likely become an even more important planning tool for those looking to build and preserve generational wealth. As tax advantages for other investment vehicles may shift, the unique benefits of life insurance—such as tax-free cash value growth and the ability to pass on wealth efficiently—could become increasingly valuable.
Life insurance still carries a certain stigma. Many people harbor negative perceptions of life insurance and the industry, often viewing salesmen with skepticism, a reputation that, historically, places them only slightly above used car salesmen in public opinion. These stereotypes can make it challenging for people to see the true value life insurance can bring to a financial plan.
In today’s episode, Tom and John challenge these assumptions by sharing stories of famous individuals who held a very different view of life insurance. In fact, some of these well-known figures not only used life insurance to protect their own wealth but even worked as life insurance agents themselves at one point!
Tune in to discover how these surprising advocates of life insurance might change the way you think about it—and perhaps even inspire you to take a fresh look at how it could play a key role in your financial future.