How we benefited from the Coronavirus stock market crash Part II – Whole Life Insurance and the Coronavirus Crisis
In Part I of Whole Life Insurance and the Coronavirus I illustrated how our insurance policies rescued us from a potentially financially devastating situation last March when the full impact of the Coronavirus hit Canada. I encourage you to read Part I and how permanent cash value insurance provides valuable protection on your stock market and real estate portfolios in a time of need. Permanent Cash Value Insurance protects your assets.
In Part II, I want to explain how the policy allowed us to take advantage of a tremendous opportunity.
In our mid 50s, my husband Bill and I have come across many opportunities that we have had to pass on. Some were real estate related, like that property in York Mills in 2006 that someone else purchased, split, and built on. Some were stock market crashes … like in 2009 when there was a 50% decline in the major world markets.
We always knew we wanted to have money available for then next big opportunity. But who wants to have cash sitting on the sidelines when it may take years for the opportunity to present itself?
Welcome to Cash Value Life Insurance – the new asset class.
Just one of the amazing benefits of Cash Value Insurance is opportunity to earn a particularly good return, but with the ability to easily access capital when opportunity presents itself.
When we saw the market do the Covid Crash – we were quickly able to access our values and deploy it. The market was off 30% and has mostly rebounded. While we did not earn 30% … we were able to get around 18% in 3 months … which is like a 72% return. Permanent Cash Value Insurance provides money for opportunities.
We are so grateful to have had our policies which provide us with a good return and flexible access to safe money quickly.
Let’s face it … opportunities will present themselves from time to time. Shouldn’t you build a better wealth plan with access to capital to take advantage of the next big opportunity?