4 thoughts on “Life Insurance Premiums (Base, PUA, Term, and Reduced Paid Up)

  1. Hi there,
    I am intrigued about reading this information on high cash value insurance. Recently we were given a presentation from World Financial Planner selling us WRL variable life insurance. My husband and I decided that we are not in a position to invest 500 a month on a long term retirement tool. My husband is the main bread earner while I stay home with my three young children. Eventhough he makes a good income, we don’t have alot of extra income to invest. Typically, what types of income is required to purchase a high cash value insurance?

    1. Hi,

      There are typically no minimums. However, there is, what I call, the “sweet spot” where you will get all the benefits of WL insurance for the least cost. Typically this is around 200-300 dollars a month depending on the age of the person (and health can play a factor as well).

      Good question, hope this helps. Feel free to email me josh at becomingyourownbank.com if you want to know more about specifics.

  2. I am totally in the dark. Maybe I’m dumb but everyone explains this banking process and how it works OFF of life insurance.
    Nowhere have i found anyone who explains where to get this life insurance, how much it costs and if you sign up today how long do you have to wait to “borrow” to put into your “Own Bank”.
    Can someone direct me to a place to get this info?

    1. Hi Sharon,

      That’s a good question. And I have a good answer (I promise). The real reason is because, well, it varies between person to person. It can vary based on age, amount of money, etc.

      Also, the other reason is because you have options. In many cases you can determine if you are more concerned about having money available early on, or if you are more interested in long term growth. This is a good question, so I’ll probably do a post on it soon.

      So, to answer your question, you really need to talk to one of us here. We can run you some numbers so you can see what it looks like based on your situation.

      That being said, you will have money immediately available to start “borrowing” from.

      Thanks for the comment!

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