Explore insurance and infinite banking that works harder for you.
Your insurance coverage really can do more to improve your financial situation in this life – such as cash value, infinite banking, and disability coverage – while also protecting your family when you’re gone. Get in touch with us to ask any questions, learn more about specific insurance products, or ask about how well your current policy fits your needs. We’ll help guide you through making sure you have the right coverage, at the right price.
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Frequently Asked Questions (FAQs)
Our clients come up with great questions, and we love providing the answers or finding them. Here are a few we hear regularly, but feel free to discuss these questions and any additional questions when you speak with your Basoco Agency insurance advisor.
Most plans have simplified underwriting, so you don’t always have to pass a medical exam to qualify. The application is easy and can be done over the phone or Zoom call.
The entire selection and application process usually takes less than 30 minutes. Most carriers have instant approval with remote signature options.
We recommend purchasing life insurance as soon as you can afford to get a minimum level of coverage. Prices go up with age and health complications, which typically increase with age.
It can be if you choose the wrong policy, but it doesn’t have to be. Our agents want to make sure everyone who wants life insurance is covered, so we look for affordable options that still offer the benefits you need with rates that don’t go up and coverage that won’t go down as you get older.
The quick answer is term life policy is “rented” for a set number of years and costs less; but it doesn’t have any cash value for the premiums you pay into it. Whole life is “owned” and permanent, offering a cash value.
If you die while the policy is in force, the insurance company provides tax free funds to pay off your mortgage. You may also qualify for additional coverage to help with debt elimination.
Our proprietary software, paired with a participating, dividend earning whole life policy, smartly redirects the payments you’re already making (without any additional expense) to a debt “snowball” or “avalanche” to get you debt-free years earlier and with less interest. It’s not uncommon to see 30-year mortgages paid off in 9 years.
No. You just have to want to redirect the money you’re already paying in a more effective way. Ask your advisor about how you can leverage the benefits of infinite banking while also paying off your debts.
A lot of carriers won’t cover cannabis users, but we have found some that will. Be sure to tell your advisor about any specific concerns during your assessment. The solutions we can find cover just about any need. Think of us as your lawyer, not your judge. We represent YOU.
401K IUL
Death Benefit: Account value minus taxes Enhanced death benefit
Market Risk: Subject to market volatility Market growth w/ downside protection
Taxes: Subject to prevailing tax rates 100% tax free
Outlive safeguards: None Yes