Invest in Life Insurance

If your cash flow is tight right now, this isn’t for you.
If you think insurance is a cash grab by the insurance companies, this isn’t for you.
If you aren’t looking to build wealth, this isn’t for you.
If you are still reading, this might be for you.
There are two types of life insurance out there, term and permanent, and both can be owned by your corporation. For this strategy, I’m going to focus on the benefits of permanent insurance. 
Permanent insurance can build your net worth and protect your family against estate taxes. Why should this matter to you? Two reasons. And they are both tax reasons.
The first is in regards to the yearly premiums.
Let’s say you have a policy that has a premium of $1,000 per year. To pay it personally, you likely need to earn at least $1,429 to pay the income taxes first and have $1,000 leftover for the premium. To pay it through the corporation, you only need to earn $1,139 to pay the taxes and the premium. That’s 25% off the price.
The second is in regards to the death benefit.
The end game benefits of life insurance aren’t going to benefit you at all. But if you are building wealth right now, you need to think about how your wealth is distributed after you pass away. If you have $5M in properties with a $2M purchase price, that will leave a hefty tax bill. You could expect your heirs to pay it out of their portion; it is all a gift to them after all. But permanent insurance allows you to invest your corporate dollars and turn them into tax-free personal dollars. And isn’t that the real end-game of becoming wealthy, to create an opportunity for your kids and their kids to have less financial stress than we did?
If you are still reading at this point, this is a strategy for you.