Insurance – I hear students saying it is “good” and others saying it is “bad”!

Well, here is my perspective.

Insurance, if used right, is REQUIRED! It should be part of your portfolio.

Having the right insurance person on your team is absolutely NECESSARY. The problem I see is that many insurance agents/brokers are interested in selling selling selling without understanding how their product fits into your overall portfolio.

The other problem is that many make generic statements like “Term Life is Good” or “Term Life is Bad” etc.

Insurance is a tool. You can use a tool for the wrong or right thing. So it is not about the tool, it is about how it solves the problem. Your QUALIFIED insurance broker/agent should be able to help you.

Just like I talked before about mortgages, there is a risk relationship between property owner and lender, and understanding that relationship is important.

I am no expert about insurance, but here are a few things that come to mind when I think insurance.

1) Insurance is about transferring risk away from you to another company. There is a cost for mitigating risk (or lowering risk of something happening). As I always say, cover the downside so that you can focus on the upside. Think of it as peace of mind, so that you can put your effort on the upside. Insurance can be a great vehicle. A simple example is life insurance, good car insurance etc. For example, if have a young family that you need to make sure is taken care of in case of your death.

2) Insurance can be a tool to building wealth. For example, I am adding a new module to Infinite Wealth System (www.InfiniteWealthSystem.com) that talks about “Arbitrage Wealth” using insurance. How would you like to generate six-figure residual income annually for the rest of your life 10 to 15 years from now WITHOUT putting up much money, by simply using arbitrage. This is something the wealthy have been doing for years!

3) Insurance can be used as a financing vehicle. For example, anyone that has taken the Infinite Wealth System (www.InfiniteWealthSystem.com) is well aware how to use insurance as a financing system to increase your net worth significantly. Imagine having your own “bank” to finance your next car purchase. This can be VERY powerful.

If you decide you would like to talk to MY personal insurance broker(s), contact (888) 888-3612 and ask for either Mark Peters or Jim Helton. They are both exceptional.