<\/p>\n
Life insurance, if used in the right way, can be worth the premiums in the long run.<\/p>\n
Take\u00a0Don and Marilyn\u2019s story, for example. For them, life insurance was a valuable choice as\u00a0part of their incredible retirement.<\/p>\n
Don and Marilyn were in their seventies when they realized they had more than enough\u00a0money to last for the rest of their lives even if some curveballs were thrown their way.<\/p>\n
In\u00a0fact, they found themselves forced to make withdrawals from their IRA accounts even\u00a0though they didn\u2019t need the money.<\/p>\n
Also, they had already made provisions to leave\u00a0sizable inheritances to their children so they didn\u2019t need to keep money for their heirs.<\/p>\n
So, for the last twelve years, Don and Marilyn have taken those IRA distributions (less\u00a0taxes) and applied them\u00a0to two different insurance policies.<\/p>\n
The first policy they purchased\u00a0was a joint life second-to-die type policy, meaning the insurance death benefit of\u00a0$128,123 would be payable to one of their favorite charities after they both had passed\u00a0away.<\/p>\n
They paid premiums of $4,000 for six years. At that time, we analyzed the policy\u00a0and found there was sufficient cash value even on a guaranteed basis to maintain the\u00a0policy.<\/p>\n
They decided to stop making additional premium payments to this policy. Instead,\u00a0they decided to purchase another second-to-die insurance policy, this time for $102,237\u00a0payable to another favorite charity.<\/p>\n
They would make premium payments on this policy\u00a0for six years. This policy has now accumulated enough cash to pay future insurance\u00a0costs so they decided to stop making additional premium payments on this policy as\u00a0well.<\/p>\n
That\u2019s how a total \u201cinvestment\u201d of $48,000 has helped benefit two of their favorite\u00a0charities to the tune of $225,360!<\/p>\n
For more incredible retirement stories like this one and incredible retirement tips,\u00a0subscribe to our monthly newsletter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Life insurance, if used in the right way, can be worth the premiums in the long run. Take\u00a0Don and Marilyn\u2019s story, for example. For them, life insurance was a valuable choice as\u00a0part of their incredible retirement. Don and Marilyn were in their seventies when they realized they had more than enough\u00a0money to last for the rest of their lives even … Read More<\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[183],"tags":[351,144,352],"_links":{"self":[{"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/posts\/2986"}],"collection":[{"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/comments?post=2986"}],"version-history":[{"count":0,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/posts\/2986\/revisions"}],"wp:attachment":[{"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/media?parent=2986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/categories?post=2986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brianfricke.com\/wp-json\/wp\/v2\/tags?post=2986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}