How BTC Life Insurance works

I just wanted to pop on here this morning and talk about an exciting new product that we Florida Medicare broker are offering and that is Bitcoin life insurance and this is something that we've been working on for quite a while now and we're just super excited about offering this we are all big Bitcoiners here at Florida Medicare broker so we totally 100% are behind this product and we believe in this product and we just wanted to share it with y'all and talk about some of the benefits of Bitcoin life insurance and if you are in the Bitcoin world and you truly believe in Bitcoin this is something that is a must have in your life on your screen right now is just showing what the Bitcoin market is doing right now it's flirting with all-time highs it's just over $109,000 would not be shocked if sometime this month we make new all-time highs again with Bitcoin so the first thing is you know acknowledging first that Bitcoin is going mainstream and with Bitcoin life insurance you can protect yourself against a destabilizing dollar the dollar is constantly devaluing itself on average two percent a year in more recent years it's been more like seven eight percent but on average it's about two percent a year when they say inflation is two percent a year that means your dollar is getting two percent weaker per year so the first thing is with Bitcoin life insurance you're going to protect yourself against a destabilizing dollar excuse me I apologize about that so the second thing is it offers tax advantages and liquidity if you're one of the more fortunate people that have been able to get into Bitcoin early and you have several Bitcoins or even if you if you're just getting into it now and Bitcoin goes up to say a half a million a million ten million dollars a coin the current tax structure says if you if you spend that money or you sell it I do apologize for coughing on y'all but the current tax structure says if you spend that that Bitcoin or you sell it that you have to pay capital gains tax income taxes on the gains of that Bitcoin with Bitcoin life insurance it has a cash value feature or as we like to call it a Bitcoin value feature and you could take a loan against that Bitcoin and you can use it and sell it on a stepped up basis so the loans right now are really low interest rates only about three percent but the greatest thing is you can access the value of that Bitcoin on a stepped up basis and immediately sell it immediately spend it and not have to pay any taxes on it now the beautiful thing is a lot of people say well what if the value of Bitcoin goes down with that loan then am I am I going to get margin calls and the answer is no no you're not going to get any margin calls because the insurance company operates 100 percent in Bitcoin they only care about Bitcoin they don't care about the dollar value they don't care about the peso value or the euro value or what have you they care about the Bitcoin so if the value of Bitcoin actually goes down then you're going to benefit from it so let's say Bitcoin is a hundred thousand dollars you take out a loan against it say say something dramatic happens drops like 90 percent in value goes all the way down to 10 grand or something never going to happen let's just say pretend though then you can pay off that loan with one Bitcoin when it's only ten thousand dollars and you lock it in that ninety thousand dollar you know gain that you just had you basically just shorted Bitcoin so no margin calls on on the loans so for the first time ever Bitcoin is going to be used as collateral it's getting into the mainstream now it's a great thing it's one of the best things ever happened to Bitcoin so you're going to be able to access the value of it without triggering a taxable event with the Bitcoin value that's built inside the policy but by the way it's also life insurance so your heirs your loved ones are going to receive Bitcoin when you pass when you die and that's going to be one of the greatest things and this is is this is a feature that I think is a little bit overlooked because this happens all the time you know here here at Florida Medicare broker we deal with a lot of life insurance with seniors and we hear all the time that they bought a life insurance policy 20 25 30 years ago and then the death benefit back when they bought it was a lot of money but now it doesn't seem like a lot hear me out on this okay so let's say you bought a ten thousand or a hundred thousand dollar life insurance policy say 25 years ago 25 years ago 100 grand was a lot a lot of money but today that that same death benefit is only worth about 75 80 percent of that in today's in today's dollars that's only about 75 000 probably maybe even a little less maybe more like 70 000 so it's not as big of a gift but the greatest thing is that with Bitcoin life insurance the death benefit is measured in Bitcoin and Bitcoin goes up so say you buy a one Bitcoin life insurance policy or a 10 Bitcoin life insurance policy what have you you know 10 years from now you know right now that is that would be a 10 Bitcoin life insurance policy would be worth roughly a million bucks but 10 years from now it's extremely likely that policy is going to be worth 10 million in dollars it's going to be worth a lot more because Bitcoin is going to go up because there is no top to Bitcoin because there is no bottom to the dollar it will just continue going up and that's something that people need to make sure they wrap their heads around it's a lot like the S&P 500 what's the top of the S&P 500 there is no top because America and same thing with Bitcoin there is no top because there is no bottom to the dollar now one thing that that people like to ask is you know what happens to Bitcoin do I still own it is this how is this work are they just converting Bitcoin to dollars is this insurance company just going to immediately sell the Bitcoin and you know turn it into dollars and operate that no they operate entirely in Bitcoin now like most insurance companies they do invest as well you know the insurance company will loan out the Bitcoin to get some yield on it they will invest in conservatively into the markets the financial markets all around the world to get some yield but they are storing Bitcoin they are operating entirely in Bitcoin just everything you know about currencies about the U.S. dollar just throw that out the window and just replace it with Bitcoin because Bitcoin is the currency that's being used with this insurance company so how does this actually work step one you pay in Bitcoin it's a 10-pay policy you make 10 annual payments after that you don't pay anything you're not going to be paying for your whole life you know like your traditional life insurance policies you know your traditional life insurance policy you're going to be paying for 10 20 30 40 years but this one you pay for 10 years 10 annual payments a good healthy 35 year old man 40 year old woman can get probably a 20 Bitcoin life insurance policy for 10 annual payments of one Bitcoin per year so so you you pay 10 Bitcoins into a 20 year policy or I'm sorry 10 Bitcoins into a 20 face value policy and you can access the Bitcoin inside the policy almost immediately as well and the value of the Bitcoin inside a policy continues going up because Bitcoin continues going up so your Bitcoin value that's step two it will go up over time so when you start paying into it Bitcoin might be worth a hundred thousand dollars but five years from now that Bitcoin might be worth you know five hundred thousand eight hundred thousand dollars so you start paying into the policy six months later you say you might want to take you know fifty thousand dollars worth of Bitcoin a half a Bitcoin out to go buy yourself a brand new car say a year later you want to take some more money out guess what you can because the value of the Bitcoin in your policy has gone up because now Bitcoin is not worth a hundred grand anymore it's worth 200 grand and guess what you could take another 50 grand out go buy yourself a second car or make a down payment on a house or what have you buy yourself a horse I don't I don't know you can do whatever you want with it it's your Bitcoin that's the greatest thing and the interest on the loans right now are only about three percent so it's a super cheap loan you pay you there's no payment schedule you pay it to your own schedule if you don't pay off the loan that's okay when you die the amount that the the loan that you have out on the policy just gets deducted from the face value that's all so if you have a 20 Bitcoin death benefit and during the years you use two Bitcoin to buy stuff your heirs will not get 20 Bitcoin but they'll get 18 it's that simple so you don't even have to pay back the loan if you don't want to that's the beauty of whole life insurance it's a beautiful thing basically you're turning yourself into a bank with your Bitcoin and people might say why why would I do that with a life insurance policy goofy to do that why not I just keep it on a a wallet a cold wallet you know with something like Trezor for example and the reason why is because if you just start spending that Bitcoin right now the tax code does not favor you you know you spend that you buy a house with that Bitcoin you're not just buying a house but you also have to pay Uncle Sam a bunch of money because right now if you if you sell the Bitcoin you're having to pay income taxes capital gains taxes on on that Bitcoin and yes I know the tax code is probably going to change in the next couple years but Congress moves kind of slow is that fair to say I mean right now just to pass a simple tax bill it's taken them six months and they knew exactly what Trump wanted in the tax bill for for the past year year and a half and they're just sitting there arguing with themselves so will this will Bitcoin tax laws change in the next couple years most likely but right now we have something that will benefit you and the way to make your Bitcoin grow help make Bitcoin mainstream so this is the greatest thing you can access your Bitcoin without selling without triggering a taxable event for the first time ever Bitcoin's really going to be used as collateral to the mainstream you know in the past you know maybe if you had a billion dollars worth of Bitcoin five billion dollars like strategy does micro strategy does you're able to use Bitcoin as collateral but the average Joe was not able to use Bitcoin as collateral but for the first time ever you will and there's no margin call risk so if Bitcoin does go down when you have a loan out against it you don't have to worry about the insurance company going hey you need to pay off that loan the value went down no they only care about Bitcoin they don't care about the dollar value of Bitcoin because they're just they operate entirely as in Bitcoin as the insurance company so they just want one Bitcoin back they just want a quarter of a Bitcoin back they just want 0.01 Bitcoin back that's all they're concerned about and actually benefits you if the value of it goes down because then you can pay off the loan more cheaply because most of us are still operating mostly at least in US dollars assuming you live in America you know if you don't if you live in in Europe uh then it's the same thing but with euros or Mexican pesos Chinese renminbi Japanese yen whatever kind of currency it is you operate in Canadian dollars even but of course all of this is to also secure your legacy there's people in your lives that you love and you want to make sure they're taken care of if you die you don't want to you want to know that your wife and your kids are going to be taken care of you don't want to leave them with you know medical bills with a massive mortgage and debts that they have to pay off because debt lives forever somebody's gonna have to pay off that mortgage after you die the bank's not gonna be like oh hey you know jack died today so we're just gonna forget about that mortgage that doesn't that doesn't happen you know the bank is gonna say we still want our money and somebody's gonna pay us you know we're gonna sell that house so to get that to get that mortgage money back the house that you raised your family in it's an emotional thing and you can leave them with the best money that has ever existed you know the greatest thing about bitcoin is it is money and the value of it doesn't go down you know 12 years ago or so 15 years ago somebody bought i think it was two pizzas with 10 000 bitcoin now it's the other way around you can buy two pizzas or 10 000 pizzas for two bitcoin give or take i don't actually know what the conversion rate on that is but you get the point the value of it is going up the u.s dollar it's the exact opposite you know 15 years ago two pizzas would have cost like 20 bucks today you were for 20 bucks you could barely buy one pizza so you can secure your legacy you can give the greatest gift to to somebody with bitcoin and your typical you know 35 40 year old man that's healthy you're going to be able to put 10 bitcoin over 10 years into the policy and get a 20 bitcoin death benefit that you can leave your errors and while you're still alive you can take that 10 bitcoin that you put into it take loans out on it spend it you know buy yourself a house a whole ranch you know put some horses on that ranch buy yourself a nice truck bitcoin will grow in the policy at the same time and you can spend that entire 10 bitcoin if you wanted to and still leave your loved ones a 10 bitcoin death benefit this is this is the greatest thing that has happened in the insurance industry at least as long as i've worked in it it's the most exciting thing the most exciting product i've seen come around in a long long time and the greatest thing about it is that's happening with with bitcoin bitcoin is taking over the world it's going mainstream and i would recommend if you are interested in this you get into this now because the the prices are not going to stay this low they're going to go up over time uh and it's going to be and it's going to cost more but you get in the contract now and you can lock in uh that those those annual premiums forever you know the premiums once you sign the contract the the premiums do not change you get in at a 20 bitcoin life insurance policy it's going to cost you 10 bitcoins uh one bitcoin per year and i'm not saying it has to be 20 bitcoins by the way it could be a 10 bitcoin life policy for 5 bitcoins over over 10 years or even a 1 bitcoin life life insurance policy with a half a bitcoin paid out over 10 years you see what i'm saying i'm using extreme examples here but if you are interested you know visit our brand new websites we're still building it you know so there's not a lot of information on it but bitcoinlifeinsurance.io if you have any questions about it fill out this form let us know we can give you a call put in put your email in there put your phone number in there let us know set up a time uh with us we can we can you know talk over the phone we could talk via zoom we can uh if you live in florida that's where we're located we'll even drive out to your house sit down with you and have um a great discussion about how great bitcoin is so let us know if you have any questions put a comment below um let us know if you have any questions visit our brand new website bitcoinlifeinsurance.io thank you for watching comment below if you have any questions if you already own some life uh bitcoin life insurance let us know what you think we appreciate y'all take care bye