Myth #15: Whose Money Is It Anyway?

I talk to insurance agents and financial advisors all over the country. On more than one occasion as we discuss various retirement income strategies, this question or concern comes up: "But it's not YOUR money (in the cash value life insurance contract)."

Let's talk about it.

In other blog articles, I've talked about the formula for cash value life insurance:

Net death benefit = cash values + net amount at risk - any outstanding loans

In the strictest sense, it's true that the money doesn't belong to you. It belongs to the insurance company to secure and