Is your insurance policy building wealth or just a cost? In this episode of the Vital Wealth Strategies Podcast, host Patrick Lonergan, founder of Vital Wealth, sits down with Wallis Wilkinson Tsai, a former Goldman Sachs investment banker, hedge fund investor, and co-founder of AboveBoard Financial. Together, they explore how insurance can become a powerful tool in your financial strategy, if it’s used correctly. Whether you're a high-level entrepreneur, CEO, or business owner, this conversation will show you how to turn insurance from a sunk cost into a high-leverage asset.
Wallis shares her expertise on everything from tax-optimized life insurance structures to often-overlooked tools like disability coverage and executive benefits. This episode will challenge what you’ve heard about “buy term and invest the rest,” and introduce you to strategies like Irrevocable Life Insurance Trusts (ILITs), Private Placement Life Insurance (PPLI), and buy-sell agreements that can drastically improve your financial outcomes. If you’re looking to reduce taxes, preserve wealth, and make smarter decisions about your business and legacy, you’ll want to listen all the way through.
Key Takeaways:
- Why most insurance sales are misaligned with client goals
- How to use life insurance for tax-deferred and tax-free growth
- The hidden importance of disability insurance for business owners
- Estate planning strategies using Irrevocable Life Insurance Trusts (ILITs) and survivorship policies
- How executive benefit carve-outs can retain top talent and reduce tax liability
- A breakdown of Whole Life, Indexed Universal Life (IUL), Variable Universal Life (VUL), and Private Placement Life Insurance (PPLI), plus when to use each
- Why now is the time to reevaluate your insurance strategy
Learn More About Wallis:
Resources:
Visit www.vitalstrategies.com to download FREE resources
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies
Follow on Instagram at https://www.instagram.com/vital.strategies
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/
Credits:
Sponsored by Vital Wealth
Music by Cephas
Art work by Two Tone Creative
Audio, video, research and copywriting by Victoria O'Brien
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