What Do I Actually Own?

Start with your gift

There is an awkward feeling that attempts to rise up or contend with grace. Grace is always a gift, an undeserved one.

But pride will often creep in and make you feel like the gift is not enough or a common thing. It is that same pride that would cause us to overlook the talents and gifts that we all have. Then turn our focus to coveting the gifts and talents of others.

We all have a gift or talent that when put in the right perspective or use can bless others and provide for ourselves and family.

The book of Proverbs says a mans gift will make room for him and bring him before great men. We have seen that same truth in the lives of Jacob and Esau, Joseph and Pharaoh and many others. We also see the same thing here with Doris and Warren Buffet.

We tend to ignore what we have or overlook those things that seem to come natural to us. Then spend decades trying to learn a way or skill to become successful.

Then look at your resources

A gift may need time, relationships, money, or another resource before it can serve someone well. Doris used an existing life insurance policy. For you it may be something different. If Doris didnt have the capital to start she may have never been as successful as she was or may have needed to borrow or get a business partner.

Many people have Life Insurance policies that they havent checked on in years. Sitting around and actually hurting them instead of benefiting them. Because of fees and how they were structured back then and never taking the time to learn about the benefits and value of what they have.

Now that does not mean every policy has cash value or living benefits, or that using or borrowing against your own money is automatically the right choice.

But if you do have a policy, you want to understand your policy and your coverage. Start by asking these questions:

• What is my cash value if there is any?
• What was it last year?
• Is my policy growing in cash value or are the fees consuming my value?

Check on your beneficiaries. Update any information that needs to be updated.

Choose a path to reveal the matching explanation.

Here are a few examples of features that are available that you may or may not be aware of.

Cash value and living benefits are different features.

Got questions? Need help?

And if you need help figuring it out, because we have conversations with people regularly who do not even remember the Company they are with, have not seen their agent in years and dont even know how much coverage they actually have.

Go and find your information regarding your policy and look for the page that names the owner, insured person, benefit, premium, and any cash value information.

Get on the phone and call the company directly and ask them about your policy which figures are guaranteed and which depend on assumptions. Ask what happens if premiums change, a loan remains unpaid, or a feature is used. If a benefit is described as living, ask what event, medical certification, waiting period, and payment limits apply.

Ask them how the policy has been performing what was the amount 2 years ago, last year and today.

Also a licensed review with an agent can help you compare the contract with your goal. Tax, legal, business, and medical questions may need another qualified professional.

Your responsibility is to decide what you want to make possible; the next person’s responsibility is to explain what they can actually verify and do.

Make your questions concrete

Use the field card below with your own documents. It is a private worksheet. Nothing on this page is submitted or saved to a server.

If you would like more education or want to go through your situation with someone, you can request a review with a licensed agent. A review should clarify your question and documents; it should not presume a purchase.