Using the Cash Value of Your Life Insurance to Set Your Financial Life Free
“Were you a slave when you were called? Don’t let it trouble you—although if you can gain your freedom, do so.” (1 Corinthians 7:21)
The Trunk of your Fruitful Tree gives life to the branches, leaves, & fruit. Without a strong and reliable trunk, you cannot have good, plentiful fruit. The best product we’ve found to breathe this life into the rest of your financial future is whole life insurance. We’re going to point to a few of those reasons outside the many we’ve spoken of thus far.
There are several reasons for this. Make sure you understand the discussions on the Living Value of your death benefit and How to enjoy your money & still give it away, because the living value of your death benefit in old age is one of the most powerful benefits of life insurance, and is hard to grasp until you actually reach that age. However, it will be the most powerful way that you are able to freely give your money away as the Lord guides you and enables you to enjoy your money without fear. Most people are never able to do this.
Another important reason is that you can use this product in a number of ways to finance every major expense and productive enterprise in your life when you understand the possibilities with this product and plan ahead. We’re going to talk about a couple ways in which this can happen. We’ll soon also talk about setting up storehouses so that God can bless them as He promises in His word. Over the next two days, we’ll focus on Family Banking, with two main focuses:
- How to Become your own Banker
- How to establish a generational Family Bank
In the first one, you’ll be introduced to the idea of using your own Whole Life insurance policies to earn profits on all your future financial transactions. This will only be an introduction because this topic usually takes personal instruction and perhaps more reading than we have space for here to fully comprehend, but we’ll introduce the idea.
Afterward, we’ll look into the future of your family’s generations. A Fruitful Tree does not stop at tasty fruit. It must first grow up to bear this fruit, but once it’s able to do so, it can become the beginning of an orchard. You’ll want to be involved with teaching your children (whether actual family or those you have influence over) the stewardship principles that you are learning. By introducing a Family Bank to your children, you can guide them into the future and instill the values of good stewardship to the generations that come even after you’re gone.
This is Part 9 in a series on Whole Life Insurance. You might want to read the introduction to this series which will link to each post in the explanation of whole life and Ben’s story showing how whole life is used in a variety of ways in his life.