Mar 12, 2024
Kim and Spencer engage in a deep-dive discussion about life insurance policies. They emphasize the importance of having the right mindset and principles when dealing with life insurance policies. They elaborate on the concept of overfunding and underfunding these policies. Kim and Spencer mention how the premium of a policy can build cash value and the ways that a "Paid Up Addition" could increase the death benefit and build cash value. They caution against overfunding your policy beyond the IRS's Modified Endowment Contract (MEC) limit, which could lead to tax implications.
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Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers thinking and strategies today!
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