Why You NEED Life Insurance in 2025 | Let's Get Real Ep. 16

GET YOUR SHIT TOGETHER WITH LIFE INSURANCE

Ever feel like those insurance salesmen are just vultures picking at your wallet? I used to BE one of those guys - and yeah, it was sleazy as hell.

But here's the raw truth: you NEED life insurance, and you're bullshitting yourself with every excuse not to get it.

In this no-holds-barred episode, I'm calling out every weak excuse:

• "I'm too young" - Bullshit. It's CHEAPER when you're young.
• "I don't have anyone to leave it to" - You don't know what the future holds.
• "I'm too broke/too rich" - Neither is true.

For my Black and Brown families especially - this isn't just protection, it's our shot at building GENERATIONAL WEALTH.

Why are we dropping $350 on Jordans but hoping a GoFundMe goes viral enough to bury our loved ones?

Term, whole life, universal - I break down the options without the sales pitch. The ultra-wealthy use these tools for tax strategies and income - not just death benefits.

Get off your ass and secure your family's future. Real wealth starts with real protection.

Watch the full episode: https://youtu.be/9GpdtAyTg0o

For more unfiltered financial truth, visit nobswealth.com

Welcome to the No BS Wealth Podcast with Stoy Hall, your candid guide to financial clarity. In our third year, we're spicing things up by enhancing community ties and bringing you straight, no-fluff financial insights. Connect with us on NoBSWealthPodcast.com, and follow Stoy on social media for the latest episodes and expert discussions. Tune in, join the conversation, and transform your financial journey with us—no BS!

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Episode Transcript

Stoy (00:00):
It's time to get real with you guys.

(00:01):
I should probably pour a drinkfor this one.
We're gonna talk about lifeinsurance today.
Yep.
You heard me.
Life insurance.
I used to be in life insurancegame myself.
That's how I started my career.
And guess what?
It was sleazy.
It felt salesy and it didn'tfeel good.
Ultimately.
I still think we did what's goodfor people, but life insurance
is vitally important.
It just isn't the everythingthat needs to be done.

(00:23):
Many of you have had probablymany of agents.
Whether it's on LinkedIn orFacebook or your friends or
family, someone at some pointhas tried to sell you life
insurance and that was the onlything that they talked about.
Life insurance.
Life insurance.
Life insurance.
Well, I get it.
It's one of the most importantthings that I think we should
have, one of the best tools wehave.
However, there's proper ways.
To do it.
So let's discuss those onemisnomers, or I guess falsities

(00:46):
that people talk about.
I'm too young to have lifeinsurance.
Bullshit.
You're not too young.
One, when you're young, it'scheaper, right?
I mean, it's like$20 a month,$10a month for a million dollars or
whatever it is in term.
So let's start young.
It's a lot cheaper to lock thatin.
Plus you never know what's gonnahappen when you get older.
If you have life insurance andyou're locked in.

(01:06):
I get cancer, still get lifeinsurance.
Five.
Cancer, probably can't getunderwritten for life insurance
anymore.
So you gotta think through thosewhen you're young.
Second thing is, I don't haveanything to leave to anybody.
I have no charity, I don't care.
I don't have kids, blah, blah,blah.
Cool, that's awesome.
But you just don't know that allthe way up through your life.
So I try to make that decision.
Now what if you do wanna leaveit at a charity?
Favorite sports team, your almamater?

(01:27):
Hell, who knows your own localpolice department.
I don't give a shit where.
But you can't make that decisionnow because you just don't know.
So why not have that protectionbuilt in ability to give out to
others?
And the third, which I think iskind of something that people
think about or need to thinkabout more is I don't have a
need for it because I eitherdon't have enough.
Assets or I have too much money.

(01:49):
Ha.
Oh, that's hilarious.
Um, both of those are falsitiesas well.
Okay.
Just'cause you don't have assetsdoesn't mean you can't protect
anything.
And for a lot of our black andbrown families, well shit, any
lower income person as well, uh,whether that's lower class or
middle, low class shit, mostmiddle class.
This is our way to trying tobuild our legacy when it comes

(02:10):
to wealth.
Right.
We're not billionaires.
We're not a hundredmillionaires.
We don't have that ability tojust give generational wealth,
um, down and pass that down theproper way.
We do have it is life insurance.
So think about that the nexttime.
Someone wants to sell you lifeinsurance.
Granted, there are a lot ofdifferent life insurance
products.
There's the three main ones.
You've got your term insurance,which yeah, it's like renting.

(02:32):
You're just gonna have it for aperiod of a term, 10, 15, 20,
30, whatever.
You've got whole life, but yetyou got for your entire life,
it's a fixed account.
And then you have your universallife, whether that's an IUL
index, universal or a variableVUL.
Either way.
Starting with one of those isgonna be awesome.
The best one, in my opinion isterm, but, but stoy, listen,

(02:56):
I've heard it all.
I've been through it.
I've heard every excuse and I'veseen a lot of different
strategies to build into those.
Do you know that the ultrawealthy don't use it necessarily
for obviously generationalwealth purposes?
They do it to provide.
Uh, tax free income to pay theirtax bill because they have so
much money.
They do it as a proper way tofund trusts.
They do it as a proper way tocreate different types of income

(03:18):
as well.
Yes, it's not necessarily aninvestment, but it can be used
in that perspective and provideincome.
So there's more than just youdying.
To get the life insurance hell,long-term care writers involved
with those.
There are a plethora ofdifferent ways to use life
insurance throughout your lifethat is not just always tied to
you dying or not tied to, Hey, Ihave a strategy in in general.

(03:42):
Yeah, there are tax strategiesaround it.
There are other wealth buildingstrategies that you need to be
aware of, but just saying no orcutting it out of your budget,
it's only gonna hurt you becauseguess what?
You're probably cutting it outfor.
Some other bullshit, right?
So why are we lower income,black and brown families, et
cetera.
Going out and buying a$350 pairof Jordans and just hoping.

(04:04):
That when someone of us dies,our GoFundMe can go viral enough
to bring us some type of amountto at least bury somebody, let
alone something else.
What are we doing here?
So sto, what the hell can I do?
What are some steps for me?
By the way, this is the newsegment, so you should like
this.
What the hell should I do?
Stoy?
Well, one, buy term insurance.

(04:24):
Let's start there.
As much term insurance as yourbudget can allow.
A million, 2,000,500, 200,000.
I don't give a shit.
Just 20 bucks, 50 bucks.
Whatever your budget can handle,get some term insurance.
Second, build an actual strategyfor your wealth and tie your
life insurance into all of that.
Third, review that periodically,preferably with your financial

(04:46):
planner once a year.
Just a selfish plug there.
Uh, number four, grow it as yougrow.
Maybe that's converting some ofit to permanent over time.
Maybe that's adding more downthe line.
But your strategy will help youdo that, but you need to a, a
test for that later.
And those two and those fouractionable steps are things that
you can do today.
Right now, there's a lot ofprograms out there that you
don't have to go get your needlestuck in your vein.

(05:08):
Uh, you could get pretty quickunderwriting done.
Help reach out to me, reach outto anyone else on the resources,
but you just gotta do it.
So that's what you could do.
Those are actionable steps.
Bang, what happens if you die?
How are your loved ones gonnafeel?
I personally know it when mymother died and she had life
insurance, that it allowed us toget out some of the debt that we
were in, but also get aheadbecause we were able to invest

(05:28):
down the line.
And now that amount of money'sgonna grow 2, 3, 4, 5 x over the
next 10, 15 years.
And then the life insurance thatwe have is gonna double that
down.
I'm gonna be able to startgenerational wealth for my
family for the first time ever.
And it's all due to lifeinsurance.

(05:52):
Get off your asses and get somefucking life insurance.
Jesus Christ.