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:
