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PROBLEM & SOLUTION: BANK acct vs INSURANCE acct

1. INTEREST RATE:

  • pays 0-1%, fixed 5%


2. SAFETY OF ASSETS:

  • not safe VS safe as it gets

  • FDIC guarantee only covers $250k (fine print in the guarantee is rumored to say the government can pay you back in table and chairs instead of actual cash you are expecting; they DON'T HAVE YOUR MONEY!) VS Insurance companies actually just don’t lose your money at all & are reinsured by other insurance companies to spread the risk.

  • “Bail-In” vs NO “Bail-in” clause (banks have a clause that says if they are facing insolvency, they can take your money to build them selves out. Never heard of it? Go ahead and Google it.)


3. LIQUIDITY:

  • Your bank only keeps 5% of your deposit available. An insirance company MUST, by law, keep 87.5% of your deposit available and in the actual account.


4. LONG TERM CARE BENEFIT POOL:

  • $0 LTC benefit vs up to 275% of your deposit ($275k on a deposit of $100k)

  • Your $275,000 in this case would also grow at a compounding 2% for up to 20 years to become a bigger benefit ($408,000 in this case) once you get older and actually need to use it.


VIDEO: HERE:






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