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