Will a recession hurt my policy?
The word on every economists’ lips right now is “recession.” They’ve been talking about it for a while and it looks like what we’re seeing is just the beginning.
Our core message
Something we always tell you is, in times like these especially, observe the wealthy. Watch those who’ve shown they are able to preserve and even grow their money through a recession. What are they doing to protect themselves? Isn’t it fair to assume if you want what they have (protection and growth), you should do what they do?
We know the issue of asset and financial protection during these times is on many of your minds. We get this question often, “Will my money be safe with these insurance companies if we go into a recession?” How we interpret that is, “I’m scared I’m going to lose it all. What’s the risk?”
No safer place
To be honest, I haven’t found a safer place for my money in times like these than these specially designed whole life insurance policies. It sounds silly, I know. But if you look back in history, in times where the economy was booming, there was an increase in consumer involvement in riskier investments. But in times of recession where the markets were down, people sought out safer places to put their money, ie. whole life insurance policies.
You heard that right. In times of economic uncertainty, the wealthy sought out protection for their money in the form of whole life insurance policies. This time around it’s no different. There’s a reason these policies have been around for over 200 years. There is data to prove just how safe and secure they are.
The exceptions
Yes, there have been insurance companies who’ve folded in times like these, but those are the companies who’ve had a limited history or who’ve made short term decisions that have cost them their longevity. We do not do business with companies who’ve been in business less than 100 years. We want to know just as you do that the companies we do business with are safe and secure.
In fact, we put our money where our mouths are. Myself and the agents at The Money Multiplier actually use these same companies for our own personal policies! And right now, we’re all putting as much into these policies as we can so we know we are protected with whatever comes next.
Due Diligence
You don’t have to take my word for it. Do your own due diligence on what the wealthy have done in the past to preserve and grow their wealth, regardless of the economic conditions so you know for sure and have irrefutable confidence in what your next steps will be.
But whatever you do, please don’t delay. Things are changing fast, and you’ll want to be protected when they do take a turn for the worse. Your future and the future of your family is at stake.
