-----------advertisement-------------

Free Software to Simplify Your Financial Life

I don't endorse products or newsletters -- but Personal Capital is one service that I really do use (along with half a million other people) ... you will know your finances better, and be able to plan more clearly and see if you're going in the right direction, AND it's free. Try Personal Capital today

---------------------------------------------

what is a 770 account?

WP Greet Box icon
Welcome! If you are new to Stock Gumshoe, grab a free membership here and join us to get our free newsletter alerts with new teaser answers and debunkings. Thanks!
Not new? Please log in at top right of this page

Travis;
This is being touted as a teaser for subscibing to The Palm Beach Letter. Have you researched this before or do you have any info on this item? Thanks . Carl Wright

Print this

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

Email This Email This

7 Responses to what is a 770 account?


  1. I already answered that question on the other discussion, but just to summarize:
    This “770 account” is not more than Permanent Life Insurance with a twist – maximizing your Life Benefit and not your Death Benefit. There are many factors that need to be in place before the life insurance policy can turn into a “770 account.” It needs to be from a Mutual Insurance company, it needs a paid up additions rider, you will need to be on the MEC line of the policy (I will explain later), and it works better with non-direct recognition, etc.

    When structured correctly, you will get the following benefits: No risk, Guarantees, no penalties, liquidity use and control of your money, protected from creditors, leverage, tax deferred growth, tax free distributions, competitive rate of return, collateral, disability benefits (until age 65), and Death Benefit that will go to the heirs tax free. (I won’t go over every benefit on this letter, but if you need explanation of any of these terms, let me know)

    Also, when getting this type of life insurance policy, you are doing this for the LIFE benefit (tax deferred growth, tax free distributions, protection against creditors, liquidity, etc.), not for the death benefit. So you will want to get the minimal death benefit you can for the monthly/yearly premium you can put in. (We have had clients that put as little as $5,000 a year and as much as $500,000+ a year). When you get the minimal death benefit possible for your money, then you are maximizing your cash value and your LIVING benefits. As opposed to buying a life insurance policy with the maximum death benefit you can get, where you will see a ZERO cash value on your policy for the first 3-5 years. This is what the average insurance agent wants you to get, because that will maximize his incentive.

    But if anybody needs more information, send me an email: edgar@arceofinancial.com

    Like(1)

  2. Can you please forward names of companies or persons that can actually
    help me in getting my own 770 account. Thanks.
    R.C.H.
    MDPS EMPLOYEE

    Like(0)

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

What These Icons Mean

  • The user who posted this comment is a Stock Gumshoe Premium Member (also known as an "IRREGULAR").
  • This user regularly writes articles for Stock Gumshoe. They may or may not be the author of the current article.
  • This user's comments have been "liked” by at least a few members of the Stock Gumshoe community.
  • This user has commented widely, with input that has been liked enough to earn a two-thumbs-up rating from other readers.
  • This is the highest rating a user can get. They are among the most respected commentors of our community.