When to Recommend an MEC (Modified Endowment Contract) - Episode 193
Episode description
Summary:
In this short episode, best selling author Kim Butler and No B.S. Money Guy Todd Strobel break down the benefits and uses for an MEC (Modified Endowment Contract) versus a Single Premium Life Insurance Policy.
Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at welcome@prosperitythinkers.com and we may answer it in an upcoming episode.
Links in this Episode:
Submit your questions: welcome@prosperitythinkers.com
Listener gift: Ebook, Financial Planning Has Failed
Kim Butler’s book: Busting the Life Insurance Lies
Kim Butler’s book: Live Your Life Insurance
Show Notes:
00:00 Intro
00:20 Todd + Kim
00:33 Single Premium Life Insurance question
01:29 When Single Premium Life immediately turns into a MEC
02:44 You can borrow against Life Insurance
03:27 What a MEC is good for
04:51 Bridge Loan Investments
06:18 MEC is not a liquid asset
07:41 Underlying expenses with Life insurance
08:24 Have confidence in a dividend, not in the stock market.
09:41 Are there any particular strategies Kim would use?
10:47 If you’re more focused on a legacy, then we recommend MEC
11:23 Listener resources- Live Your Life Insurance, Busting the Life Insurance Lies
12:20 Listener gift- Financial Planning Has Failed, ebook partners4prosperity.com/ebook