We have good news for you even if you are uninsurable and see the value in the Money Multiplier Method (TMM). You can still purchase a policy on another family member: a child, spouse, grandchild, nephew, brother/sister or parent. You may also purchase a policy on anyone that you have a vested interest in:
an employee, a business partner or anyone that you have an interest in where their death or disability would affect you in some way. These individuals would need to consent to your owning this policy on their body.
Remember, there are three components to an insurance policy:
- The owner – the person paying for the policy
- The insured individual – the insured “body” – the policy lives as long as this person lives.
- The beneficiary – the owner designates this person and this is the person receiving the benefits from the policy if the insured passes. The owner and the beneficiary can be the same person.
The only component that can never change is the insured individual. The owner and the beneficiary can change multiple times throughout the life of the policy.
There are multiple reasons why a person may be uninsurable, but our money multiplier mentors are trained in helping you still utilize the Money Multiplier Method and are eager to talk to you about your specific situation. Please call us to set an appointment to discuss any questions you may have.