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SFB086 Basics of Life Insurance Part 6 - Spending Your Death Benefit While You Are Alive

| December 05, 2017
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Episode Summary

In part 6 of this seven part series on the Basics of Life Insurance, Paul sits down with Cory Shepherd, President of Sound Financial Group and author of Cape Not Required, to discuss how you can use the death benefit of your life insurance policy while you’re still alive.

What Was Covered

  • 03:18 - The type of life insurance policy you need in order to use your death benefit
  • 04:36 - Paul gives an example of retiring with or without whole life insurance
  • 08:27 - Two different scenarios that can happen when a couple retires and decides to spend down their money
  • 16:16 - Why everyone isn’t able to benefit from a life insurance that might behave like a 12% before tax rate of return when coordinated with other assets


"It has to be a policy that one day will endow and second, it needs to be a policy whose death benefit is guaranteed."

"If we’re going to be using our money differently in our old age it has to have a secure backstop."

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