Posts Tagged ‘25 Laws for Doing the Impossible’

The best videos for startup entreprenurs are on Valuetainment Weekly with Patrick Bet-David. In episode #55, Patrick discusses the significance of Tony Stark’s quote “Sometimes we must learn how to run first before we can walk.”

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Valuetainment Episode #39: Who would you say is a better money manager, the private sector and corporations or the public sector and the government? You will be shocked by some of the numbers and facts that Patrick shares in this episode.

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Life Insurance

7 Life Insurance Myths That Should Die

NEW YORK (TheStreet)

Consumers view life insurance as a necessary evil. The joke among life insurance marketers is that under the term “necessary evil” in the dictionary is a photo of your life insurance policy.

Americans know they need life insurance — 85% of consumers say so — but the buying process can be confusing, and that causes hesitation in the market, flattening out life insurance policy purchases over the past three years

“Life insurance has never been as inexpensive or easy to buy — especially with the anticipated growth of online and nontraditional purchasing channels — yet, millions of consumers continue to put off the decision,” says Marvin H. Feldman, chief executive of the Life Foundation, which conducts an annual survey on consumers and life insurance. “Insurance professionals and our industry play a critical role in helping to educate the public on the wide range of options available and should continue to work together to help people get the life insurance coverage they know they need.

Still, even industry professionals know life insurance remains one of the most misunderstood areas of insurance.

“Who needs insurance, how much does it cost, and when should you get it?” asks Patrick Bet-David, chief executive of People Helping People, a Woodlands Hills, Calif., financial services company. “If you ask 10 different people on the street you’re likely to get 10 different answers — from ‘I’m too young’ to ‘It’s too expensive’ to ‘I’d rather invest the money.'”

Bet-David offers these responses to common myths on life insurance:

It’s not possible for a company to pay $500,000 in death benefits when I’m only paying $50 a month. If all policy holders kept their policies, life insurance companies would be in trouble, Bet-David says. “But they make their money because people tend to cancel their policies every seven to 10 years or so,” he says. “If you’re smart, you’ll keep the policy. They can afford to give $500,000 for $50 a month when they know that 98% of policyholders won’t keep their policy for the life of the policy.”

I’m young and don’t have a need for it. Most people eventually get married, Bet-David says. If you’re smart enough to buy it when you’re young and single with a low monthly cost, you’ll benefit in the long run. Also, you still have a need for final expenses, unpaid debts and medical bills.

Life insurance is more expensive today because of inflation. Life insurance cost is based mainly on your life expectancy. “If you live longer, your policy will be cheaper,” he says. “And today’s life expectancy is longer than ever, which means insurance is cheaper.”

Only breadwinners need coverage. Imagine what it costs to hire a homemaker raising kids, Bet-David says. Now multiply that times the amount of years your kids will be under your support financially — that’s how much insurance the homemaker needs.

Better to invest that money than buy coverage. You really can’t have too much life insurance. “The complaint is always, I wish I had more,” Bet-David says. “If you can’t afford a permanent policy the least you should do is protect yourself with a 30-year term” if age allows.

I won’t be dying anytime soon. I’ll get it later. “A very extensive study of roughly 113 billion people shows that 100% of people die,” Bet-David quips. “The only problem with that study is we don’t know when.”

My policy at the company I work at is plenty. It usually isn’t, since your life insurance value is normally two to three times your income. But even with that amount it’s very annoying when you get laid off from the company you’ve been with for 17 years, landing in your early 40s with no coverage and three dependents who count on your income. “Having your own policy outside of work protects you regardless of what your company decides to do,” he says.

As originally seen on http://www.thestreet.com/story/12441908/1/7-life-insurance-myths-that-should-die.html on 2/24/2014 by Brian O’Connell

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Valuetainment Episode #29: It might start off with an older brother or sister or even a playground and the reality is that bullying is inevitable in life. The question is how do we react to it and teach others to deal with bullying appropriately?

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Valuetainment Episode #26: Is there a notable difference in the mentality of someone who starts a company and someone who merely joins one? If so, what are those differences? Find out in this weeks episode.

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Valuetainment Episode #24: After sharing one of the best quotes by Buddha on how all of us are a source of inspiration for others, Patrick demonstrates the similarities between our motivation and a candle’s flame.

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Old Glory Flag

By Patrick Bet-David

“Thank you.” That was pretty easy, wasn’t it? It’s a simple phrase that sadly is not said enough in our day-to-day lives. But as we gather with family and friends this holiday to give thanks for those we don’t see often enough, and thanks for the blessings we receive in our lives every day, there’s something else that myself and many other proud men and women in this country have to be thankful for: our service to this country in the armed forces.

Members of the military give everything they have to our country for the entire length of their service. They will make any sacrifice, including life itself, to defend and preserve our freedom. For all that is given, I still believe that much more is received from being in the service. The list of attributes a veteran possesses is lengthy, but is life-changing in so many ways.

The military serves as an incubator for leadership. Veterans are the most highly sought out demographic for executive positions across the spectrum of industry in the civilian workforce. Besides a vast array of specialized, often cutting-edge training provided in the military, a veteran’s experience in leading and in effective teamwork is so thorough and in depth, that they are a natural asset to any company or community. Having that background gives a veteran many opportunities upon returning to civilian life.

Another benefit of being in the armed forces is that you are a member of the best fitness club in the world. The physical routine of military life is a great way to stay in shape, and many servicemen and women maintain a high regimen of physical fitness after they leave active duty. Living a healthy lifestyle reaps so many rewards and soldiers have this way of life ingrained within them. The military also strengthens a soldier mentally, preparing him to handle the most pressure-packed situations known to mankind. This physical and mental training are definitely things to be thankful for.

Finally, there is something even more important for veterans to be thankful for: freedom. Every veteran understands that there are constant threats to our country and our way of life. Whether they’re based within the United States guarding our domestic soil, or overseas and have witnessed the bloodshed and violence of an armed conflict, a veteran truly understands how lucky and blessed we are to live in the land of the free. We live in a country that offers so much and sometimes we take many of these things for granted. Veterans fought and died to give us these choices. They know (and many have personally seen) the poverty and starvation, the tyranny and despotism, that many less fortunate people in the world live with.

I grew up dreaming of coming to this country. Once I was finally able to, I was so proud that I wanted to serve in any way I could, so naturally I joined the armed forces. I want to say how thankful I am to this country for taking me in as one of its own and for all the opportunities I’ve had here.

For all the blessings we receive every day; for our freedom, for our country, for each other, for our armed forces and to all the veterans – Thank you!

Patrick Bet-David is an entrepreneur, author and self-made success. His intriguing perspective on opportunity is colored from his experience as a young immigrant escaping war-torn Iran in the late ‘80s. He embodies a true rags-to-riches story that saw him first serving in the U.S. military, and today is the CEO of the PHP Agency, one of the fastest growing companies in America. 

As originally seen on: http://www.forbes.com/sites/realspin/2013/11/28/on-thanksgiving-veterans-have-a-lot-to-be-thankful-for/

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