Chris Naugle

They changed where their deposits went first.

Now, not all their money,

But their savings, the money they were going to use for big purchases, for businesses, for anything they would do.

And they put it in these specially designed whole life contracts.

Now, the money's in the whole life.

Why would we want to do that versus the bank account?

Well, number one, the guaranteed interest rate is significantly more than you get at a bank.

Plus, it never changes.

So when the banks drop interest rates with the Fed, insurance companies do not.

It's contractually guaranteed.

Secondarily, these are mutually owned insurance companies that pay dividends and have never, ever missed a dividend in well over 100 years, all of them, okay?

So now you get a dividend.

So what is the interest in dividend?

Well, about 5.5% to 6.4% is what you can expect in 2025 right now.

Are you getting that in your bank account?

Absolutely not.

So we can already argue that you're making more with the insurance policy than you are with a bank account.

But now you're earning in that tax-free.

So now that...

let's call it five and a half percent to earn that in the bank account, you'd have to get like six and a half, 7% after tax.