James Johnson discusses how life insurance fits into retirement.
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-james-johnson-president-owner-of-all-mark-insurance-services-how-life-insurance-fits-into-retirement/
Life insurance is often misconstrued as simply “death insurance,” a term used to describe the common perception of life insurance solely as a means to provide financial protection in the event of one’s passing. However, as discussed in the podcast episode, there is a significant distinction between traditional life insurance and the potential benefits it can offer beyond just death coverage.
The conversation delves into the various types of life insurance policies available, highlighting the difference between term insurance and permanent insurance. Term insurance is likened to renting a house, where people pay for coverage for a specific period, typically at a lower cost, but with no equity or long-term benefits. On the other hand, permanent insurance, such as whole life or indexed universal life policies, allows for overfunding to build cash value over time. This cash value can serve as a tax-free retirement account, offering a way to grow funds and access them when needed.
James emphasizes the importance of understanding the nuances of life insurance policies and how they can be utilized to create a tax-free retirement account. By maximizing the benefits of permanent insurance policies, individuals can potentially secure their financial future while also enjoying living benefits beyond just death coverage. The concept of building a tax-free retirement account through strategic life insurance planning is presented as a valuable tool for long-term financial stability and wealth creation.
James explained: “But it’s best to have some diversity. And have your money spread around in different areas. And diversity does not mean low, medium, and high-risk stocks, bonds, and mutual funds. Diversity means having some real estate, some life insurance, some annuities, some stocks and bonds, some cryptocurrency, some gold, some silver.”
James shared: “We help people like you create and grow wealth, Protect and Preserve their life savings, and plan for the distribution of that savings in the most tax-advantageous manner while living and in death.”
About James Johnson
James has been a business owner, a mentor, and an entrepreneur for over 28 years.
As an ex-Marine and black belt in Judo, James does nothing in life he isn’t passionate about. His continual interest in provoking thought and conversation led him to the financial industry. “Being able to help hundreds of individuals, families, and business owners achieve their goals in life not only financially, but spiritually,” James states, “is a very powerful thing.”
James has aligned himself with hundreds of his clients who are willing to learn and take control of their future. His core belief is only when we are learning, are we growing.
James is consistently top in his field; staying educated and staying on the cutting edge of laws, regulations, and industry news. He is a proud member of Million Dollar Round Table (MDRT), and was a Master Elite Advisor for Ed Slott (America’s IRA Expert) for 9 years.
With this vast knowledge of the financial industry, he was chosen as an expert on the “Ask the Expert” program series on AM radio in the Inland Empire.
Learn More: https://www.yoursafemoneypeople.com/
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