In-control
Recycles dryer sheets
- Joined
- Mar 9, 2007
- Messages
- 319
I am thinking about adding whole like insurance to my portfolio. It is thru the Knights of Columbus and averages over 8% (5% Long term Bonds, 3% profit sharing) dividend yield. Essentially I pay for 20 years then the compondened $ is mine to use. If I use the $ prior to that I pay it back w/o penalty. It also comes with a death beneift.
The benifits as I understand them is that the $ are not considered taxable income, being a KOC member is the only way to get the coverage and the insurance group returns 87% of the profit to its members, which is part of the 8%. The $, and benifits can be rolled over to a trust when I pass and my family can have 100% of the $.
Is anyone else doing this?
The benifits as I understand them is that the $ are not considered taxable income, being a KOC member is the only way to get the coverage and the insurance group returns 87% of the profit to its members, which is part of the 8%. The $, and benifits can be rolled over to a trust when I pass and my family can have 100% of the $.
Is anyone else doing this?