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Most people miss the advantages of whole life insurance because they view it as strictly an insurance product that doesn’t do anything else. But it’s that perspective, not the product, that has the limitations.Do you need to get the highest-quality life insurance you can count on, but you feel like life insurance agents are conspiring against you and sabotaging your success? Do you have questions about the advantages of whole life insurance, or maybe you need some tools to help you?

Well, look no further because this article will explain the various whole life insurance advantages, without you having to compartmentalize it as just buying death benefit, separate from the rest of your financial life.

Best of all, these seven benefits of whole life insurance will put you on the fast track to success with your life insurance right now.

Table of contentsWhere Do the Advantages of Whole Life Insurance Policies Fit in the Cash Flow System?Advantage of Whole Life Insurance #1: Vault-Like SafetyBuilt-In Strength: Reserves and ReliabilityAdvantage of Whole Life Insurance #2: Competitive Growth on Cash ValueWhy Results Vary From Policy to PolicyAdvantage #4: Tax SavingsAvoiding the MEC TrapAdvantage #5: Gateway to Income-Boosting StrategiesSpend More, Worry Less in RetirementAdvantage #6: Privacy from Creditors and LawsuitsAdvantage #7: Legacy PreserverPros and Cons of Whole LifeFind out MoreFAQs About Whole Life Insurance AdvantagesWhat are the main advantages of whole life insurance?How do the benefits of whole life insurance compare to term life insurance?Can the cash value be used while I’m still alive?Are there tax advantages with whole life insurance?Is whole life insurance worth the higher premiums?

Where Do the Advantages of Whole Life Insurance Policies Fit in the Cash Flow System?

Life insurance coverage in itself is just one small part of the bigger journey to time and money freedom.

That’s why we’ve developed the 3-step Business Owner’s Cash Flow System. It’s your roadmap to go from just surviving to a life of significance, purpose, and financial freedom. 

The first stage is the foundation.  You first keep more of the money you make by fixing money leaks, becoming more efficient and profitable. 

Then, you protect your money with insurance, legal protection, and Privatized Banking. 

Finally, you put your money to work, increasing your income with cash-flowing assets.

That being said, whole life insurance designed for early cash value AND long-term growth fits the protection layer of creating wealth. At the same time, the Infinite Banking Concept improves every other area of your financial life.

Advantage of Whole Life Insurance #1: Vault-Like Safety

A whole life insurance policy is a savings vehicle, not an investment product. You can compare it to other savings tools, like checking accounts, savings accounts, money market accounts, and CDs.

Similarly, a whole life policy’s cash value is safe because it won’t drop in value.

This matters because your cash value is impervious to market crashes and corrections. It won’t drop in value unless you take the money out.

And if you take a peek behind the curtain to compare whole life insurance companies to banks, you’ll be impressed here, too.

Built-In Strength: Reserves and Reliability

Life insurance companies can make these profound guarantees mainly because of their long-term conservative investment strategy and their strong reserves. While many banks are required to keep only 10% in reserves, life insurance companies have more than 100% in reserves.

Notably, banks failed 27 times more than insurance companies during the years between 2005 and 2017. During those 12 years, there were 523 bank failures, while only 19 life insurance companies became insolvent. And those companies were small, poorly rated companies. The highly rated companies have stood strong for well over 10...