Single premium life insurance policies

CONSIDERED USING A SINGLEPREMIUM LIFE INSURANCE POLICY?IF YOU'RE SAYING -- WHAT ISTHAT?

WELL WE SENT NEWS 3ANCHOR TODD CORILLO TO FINDOUT FROM OUR FINANCIAL EXPERTCARL CARLSON.CURRENTLY TODD, THERE IS $5TRILLION OF CASH SITTING ONTHE SIDELINES.

THAT MEANS IT'SNOT INVESTED IN STOCKS.

IT'SNOT IN 401 K'S IT'S JUSTPEOPLE HAVE THEIR MONEYSITTING IN CASH.

FOR REASONSOF SAFETY.

I MEAN, THAT 5TRILLION NUMBER IS A LOTHIGHER THAN WHAT THAT NUMBERWAS BEFORE THE PANDEMIC.

SOPEOPLE HAVE GOTTEN MORE CASHFOR MOSTLY FOR SAFETY.

AND BUTTHE PROBLEM IS THEY'RE NOTEARNING ANYTHING ON THATMONEY.

AND THE TYPICAL MAYBEON A CD, A SAVINGS ACCOUNT,YOU MIGHT BE EARNING POINT 1%SO ON $100,000, THAT'S 100BUCKS A YEAR.

SO THAT'S NOTTOO GOOD A SAVINGS ACCOUNT,YOU MIGHT ONLY BE EARNING $10OFF THAT 100,000 SO THAT'S WHYWE STEP BACK AND WE TKEA ALOOK.

HOW DO WE MAKE THATMONEY WORK HARDER FOR US ANDTHAT SINGLE PREMIUM LIFEINSURANCE PRODUCT, THAT'S APRETTY NEW PRODUCT OUT THERE.AND WHAT IT'LL DO IS YOU CANPUT ONE CHUNK OF MONEY INTHERE, LET'S SAY THAT 1000,00,YOU PUT 100,000 IN.

AND WE CANPUT A WRITER ON THAT TYPE OF APRODUCT THAT SAYS YOU CAN TAKEIT OUT ANYTIME YOU WANT WITHNO PENALTIES.

BECAUSE THAT'SUSUALLY THE PROBLEM WITH LIFEINSURANCE IS, WHEN YOU TAKETHE MONEY OUT, YOU GET HITWITH PENALTIES, AND YOU DON'TGET AS MUCH AS YOU PUT IN.

SOTHIS PRODUCT, YOU GET IT, SOIT'S LIQUID, AND IT EARNSBASED ON AN INDEX LIKE THE S&P5, 00YOU CAN'T LOSE MONEY, BUTYOU CAN MAKE MONEY BASED ONTHE S&P 500.

SO HISTORICALLY,THAT PRODUCTS EARNING THREE4%, WHICH IS WAY BETTER THANPOINT 1%.

AT LEAST THAT'S MYMATH, TODD.

SO THAT'S 3000$4,000 INSTEAD OF $100.

SO FORTHAT MONEY THAT YOU WANT TOHAVE SAFE, AND LIQUID, SO IFYOU NEED IT, YOU CAN GET TOIT.

BUT IT'S ALSO SAFE, ANDYOU WANT A DECENT RATE OFRETURN .SINGLE PREMIUM LIFEINSUANRCE IS A GREAT PRODUCTTO DO THAT.

SO IT SOUNDS LIKEYOU DON'T HAVE THE RISK IF YOUNEED TO ACCESS THAT MONEYEARLY.

AND YOU ALSO GET THEBENEFIT OF BEING ABLE TO EARNMONEY ON IT.

IS THAT RIGHT?RIGHT, EXACTLY.

AND THEN ITALSO COMES WITH A DEATHBENEFIT, SINCE IT'S LIFEINSURANCE IF YOU DIE, SO IFYOU PUT 100,000 IN AND YOUPASS AWAY, THAT'S MAYBE GONNABE 150,000 APSSING ON TO YOURBENEFICIARYMAINLY PARTS OF THE OUTERBANKS AND AREAS JUST TO OURNORTH HAVE SEEN SHOWERS TODAY.A FEW MORE SHOWERS AREPOSSIBLE THE REST OF TODAY,BUT MOST OF US WILL CONTINUETO STAY DRY WITH INCREASINGCLOUDO CVER.

A LOW PRESSURESYSTEM OFFSHORE TRIES TOBECOME MORE ORGANIZED OVER THENEXT DAY OR SO.

IT HAS A 70%CHANCE OF BECOMING A TROPICALDEPRESSION AS IT SITS JUST TOOUR EAST FRIDAY.

WITH THATSYSTEM OFFSHORE, BUT RIDINGALONG THE COAST, WE WILL SEESOME SCATTERED SHOWERS ANDSTORMS THROUGHOUT THE DAYFRIDAY.

WE'LL ALSO NOTICE AGREATER RIP CURRENT RISK WITHA HIGHER SURF THROUGH THEWEEKEND.

FRIDAY AND SATURDAYEXPECT A HIGH RIP CURRENT RISKWITH 4-5 FEET WAVES.

SUNDAYAND MONDAY WE'LL LIKELY HAVEMODERATE RIP CURRENT RISKSWITH 3 FEET WAVES.

AS THAT LOWPRESSURE SYSTEM CONTINUES TOMOVE NORTH- NORTHEAST, A HIGHPRESSURE SYSTEM FORMING OVERTHE NORTHEAST WILL TAKEINFLUENCE OVER OUR WEATHER.THAT WILL KEEP US MOSTLY DRYTHROUGH THE WEEKEND AND INTOTHE FIRST HALF OF NEXT WEEK.IT WILL ALSO KEEP OURTEMRPEATURES FALL-LIKE IN THELO 8W0S, JUST IN TIME FOR THEOFFICIAL START OF FALL ONWEDNESDAY.

NEXT THURSDAY COULDBE EVEN COOLER IN THE UPPER70S FOR HIGHS.