In 1955 Walt Disney launched Disneyland in California. It is a smaller version of what us in Florida know of as Disney World. But none of this would exist if Walt hadn’t had life insurance.
According to this article in the Huffington Post the banks didn’t want to lend him money and even The Disney Company was not going to fund the park as they had other plans in mind and thought the amusement park was not worth it. He borrowed $50,000 from the bank using his life insurance policy as collateral.
Let’s do some math…promise your head won’t hurt…If we think of $50,000 in today’s terms it might not seem like much…but when we take into consideration inflation, the buying power of 2018 would be about $465,000!
Little did Walt Disney know that he would pass away about a decade later. So even back in the 50s people were using life insurance with living benefits if known how to do properly. Today, there’s not much to think about as many policies include living benefits. Also you can have a policy that can build cash value that can be used in the future for many things, even retirement.
To get more information give us a call to get started.
Also published on Medium.