You've heard the saying, "Buy Term and invest the difference, right?" Well, in this clip, Tom Hegna explains the BASICS about Whole Life Insurance.  When combined with other tax strategies, as well as a Long Term Care Rider which is now a "standard" rider that EVERYONE should add to your policy (if old enough), it becomes an Asset that you can use your WHOLE LIFE.

If you are in your 20's, the concept is compounding. A life insurance policy purchased when young, can do the following:


  • Tax Deferred Growth of your money

  • Lifetime Insurance Protection

  • Guaranteed ability to purchase MORE every few years (without a medical exam)

  • Provide a Long Term Care Benefit

  • Placed in a trust for "special needs" care of an individual

  • Used as a Buy/Sell in the future

  • Buy a house and use the cash as a down payment (with repayment to yourself)

  • Depending on the product, may also have guaranteed lifetime income (depending on carrier).