How To Save Yourself Thousands on Life Insurance

13 comments

Awesome Wealth Chef insider – I know you’re going to love this…

“Yeah right, Ann! Life Insurance? Really?”

You may even be feeling sorry for me ;( and gearing up to send me some advice on getting out more if I honestly think Life Insurance is interesting.

So let me be clear – I think life insurance is duller than dishwater.

What I find seriously sexy is knowledge and I believe you do too.

Understanding what something is, what it’s purpose is meant to be (not what it’s been twisted into) and how to use it effectively in my life – liberates not only me but also frees up my money to be directed elsewhere.

This is what this video is all about. In it I give you sexy knowledge to empower you on this dry but vital topic called life insurance so you can once and for all know with absolute certainty:

  • What the purpose of life insurance is;
  • How to determine whether you need it or not;
  • What type of life insurance you should buy and what life insurance to avoid like the plague; and
  • How long you need it for.

 

Now you know…

Life insurance serves a very specific purpose on your financial freedom journey but sadly 99% of people who get sold life insurance do so from a place of ignorance and so get misdirected and mis-sold stuff they don’t need. Not because they are stupid because it serves the insurance industry to keep us ignorant so they can sell us products we don’t need.

Having worked with thousands of people around the world, I know that finally understanding life insurance can be a massive light bulb moment AND for many Wealth Chef’s in the making this information also saves them thousands each and every month which can then be directed to filling up their asset pot instead of filling up the insurance companies coffers.

In the video I mention you need to know your Financial Freedom Number to determine how much life insurance you need (if any). If you don’t yet have this seriously important number at your finger tips then click on this link to calculate your FF#.

Once you’ve had a chance to watch, I’d love to hear from you. In the comments below let me know:

Did you learn something new in this video?

With this knowledge what is the next action you’re going to take?

Remember to share as much detail as possible as thousands of Wealth Chef’s in the making come here each week for juicy wealth snacks, insight and inspiration as they create their juicy financially free lives too.  Your ideas and shares may trigger someone to have a big breakthrough.

Thanks as always for reading, watching and sharing so generously and for choosing to live your un-limited life with money serving not enslaving you.

With huge love

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13 Comments

  • Jo Bursey says:

    Hi Anne. Fabulous content. I Don’t have any life cover. After watching your video regarding life insurance, I am looking at covering the cost of three years high school and a university degree (or equivalent trade/education) for my youngest son. At today’s rate a university degree including residence, and day to day costs would be equivalent to R500,000. I have money in investment vehicles and need to know what would be the best thing to do: buy life cover of put money into an educational fund of some sort? Your sage advice please!!!

  • Staci says:

    Hi Ann. Thanks for the great information. My life insurance is with Discovery. I can’t find any reference to term insurance. Is this available in SA? I have a life policy seeded to the bank to cover my bond and would obviously nay need this on term. Thanks for the great information.

  • Natalie says:

    Hi Ann,

    This is so simple now that I watched your video! And yet the brokers are so eager to bamboozle people with all sorts of scare tactics to get more than you need!

    I just have a question about what to do when in fact you are currently in the negative net worth? Say for example one is in the process of paying off debts with your Debt Destroyer program but by calculation that will take about 7 years (including the bond on the property we live in) to pay off that debt to reach positive again. Should we include the debt value and time into the amount we worked out required to reach the FF#? Do dependents inherit any credit debts? Which types of debts can get claimed against the deceased estate? And which debts will be covered by the institutions’ own risk insurance? (Specific to South Africa)
    Thanks!

    • Sheila says:

      When both of my husbands died, in 1987 and 1995, and my Dad in 1995, every single debt was deducted from Assets that they had at date of debt. Debt does not cease at death.

  • Tshiamo says:

    Thank you Ann very informative. Can’t wait to see you at the stocks for frocks. Tickets bought already

  • Natalie says:

    Hi Ann, what about disability insurance. Isn’t this tied into life insurance?

  • Ian says:

    I think for people watching this video, or any of your videos, who are building up assets to live off later in life, Term life insurance is the most appropriate. But a person who is an employee, i.e. admin lady or mechanic, who doesn’t have the vision to see the future in assets, whole-life is a better option.

    To let the cat out the bag, I am with Momentum as Financial Adviser. But there are 2 different types of advisers, 1: Policy pusher and 2: someone who looks at your entire financial situation and guide you towards something better, while giving you the right products for your needs. But there is a thin line between Financial Adviser and Business Coach/Consultant.

    I firmly believe in Property Investments, instead of the normal, Unit Trusts, Investments etc. We have 3 Properties with tenants in each. But not everyone has a deposit for a flat or second house. They might only have R500 p/m. So everyone is different.

    There is a second way where you can save even more money on your Life Insurance. By taking Disability as an accelerator to your death benefit, which means that the amounts paid out are linked, the premium is also cheaper. Example, you have R1m Life cover and R500k Disability, if you claim the R500k disability, your R1m goes down to R500k. Just another way!

    Hope you guys enjoyed the video as I did!

  • Lazette A Wells says:

    As someone who is licensed to sell life insurance, I find this information so awesome. I’ve tweeted this link! 🙂

  • Kathy White says:

    Hi Ann,

    I”ve been informed that end of life insurance is useful to have to offset inheritance tax, if someone has assets above the limit 325K (UK limit of zero IHT). Then they take out the life insurance to cover the taxes? (we’re talking quite wealthy individuals here) .

    your thoughts?

  • SF says:

    There are so many conflicting opinions about life insurance, including the idea that not having it is “irresponsible”. Your explanation, especially in the context of moving towards financial freedom, will help me make a much more informed decision based on what’s right for ME. Thank you so much for this!

  • dustin quintini says:

    nice video Ann, however ive just moved from Momemtum to Sanlam for term insurance hence my previous broker add Whole life to my package… In your book you also mentioned that the installments must be fixed seeing that it increased yearly with 10% , very costly deal.

    however ive picked up that if one should buy a house a property they request that one must have life insurance equal to the property or bond value..

    be blessed
    dustin

  • Angela says:

    Hi Ann,
    That was such great video! Thank you for making this so straight forward. EXACTLY!!! Its really amazing to me that the people in the Financial System have managed to keep this sort of information inaccessible for so long. To think that educated people still wish they knew how it works but feel like its “beyond them” so just fumble along instead!!
    Ok. So a lot of people no doubt have been sold full life insurance instead of TERM . Now what do we do about correcting this?

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