Monday, December 10, 2012

Capitalism and Whole Life Insurance - Part 1

I have been in the financial service business for over 20 years and have developed some strong bias in direction of certain products or ideas. Much of what I'll express in this article is what I have realized from reading, listening, experiencing and observing, dating back to my college years when I studied Constitutional History.

All of those years mixed with the tragic loss of two of my dear friends who were professional peers, have prompted me to put in writing this article. I write it more to put my ideas to paper. If it has worth to anybody else, then I am extra enriched.

Although I would not blame them for any of the content material here I would dedicate this text to those two associates: Ray Hooper, whom I loved like a son, who's cheerful way of living brightened my life, who understood that the importance of bringing worth to someone's life because they had brought value to yours was the measure of loyalty and is what provides heart to capitalism. And to Les McGuire, who became like a son as well as a teacher, who drove me crazy, by no means letting me relax mentally. For the remainder of my life I'll continually be reading more and asking why because Les challenged me to think extra clearly.

Both Ray and Les have taught us in both life and death the actual meaning of Human Life Value.

Though I take full duty for this text I willingly give credit to all those who's quotes I have used. I've made an attempt to put in quotations the direct quotes I've used and provide credit to each here rather than in footnotes. I would encourage the reader to take the time to read the sources directly. If I have used a single word or phrase that seems as if it comes from another source, it most likely did, and so I give credit to so many listed and not listed for helping me, over the years, in formulating my thinking. However, I repeat, I take full responsibility for the thoughts as compiled here.

Credit to Robert Castiglione LEAP the Key to Financial Success
Thomas J. Dilorenzo How Capitalism Saved America (lots of my quotes are taken from his book)
Les McGuire, Thomas Jefferson, John Looke, Murry Rothband, Producer
Ludwig Von Mises, S.S. Huebner, Matt Randall.

I have been in the Life Insurance coverage industry long enough to have experienced both ridicule and admiration for helping clients buy life insurance. In those same years I have watched my own peers scramble to search out the words to explain what they do for a living rather than say they sell life insurance.

I've been involved long enough to have seen my own clients use their life insurance for its intended purpose. I have seen young and older clients pass away leaving the death benefit to their spouses. I've seen others borrow their cash value to send children to college, or purchase a car or make other investments. I've seen others use their policies to secure business loans or buy equipment. I've additionally seen others live lives of higher abundance figuring out they were able to spend their other assets because they'd purchased life insurance. To use the words of Les McGuire; I've seen life insurance used as a tool of production.'

I do not mean to imply by this discussion that life insurance is by some means part of our constitutional type of government, or that the product itself is in some way one of the pillars of the constitution. Nonetheless, I do intend to recommend that one of the pillars of the constitution is Capitalism. And that capitalism gives us the free agency to pursue happiness' by freely laboring to secure to ourselves the rewards of that production, that are property in all its forms. I'd firmly suggest that Permanent Life Insurance coverage is among the greatest financial tools out there to us to assist in that pursuit of happiness briefly it's a instrument of capitalism.

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