10 Best Life Insurance Books [Updated 2021]
Below is the list of 10 best life insurance books to read in 2021, which will give you the required guidance about life insurance to protect your family when you wouldn’t be here anymore.
- Busting the Life Insurance Lies ( Get this book )
- The Tools & Techniques of Life Insurance Planning, 6th edition ( Get this book )
- Confessions of a CPA: The Truth about Life Insurance ( Get this book )
- Questions and Answers on Life Insurance ( Get this book )
- New Life Insurance Investment Advisor ( Get this book )
- Live your Life Insurance ( Get this book )
- Money. Wealth. Life Insurance ( Get this book )
- What’s Wrong with Your Life Insurance ( Get this book )
- How Your Life Insurance Policies Rob You ( Get this book )
- Consumer Reports Life Insurance Handbook ( Get this book )
Let us discuss each of the life insurance books in detail, along with its key takeaways and reviews.
#1 – Busting the Life Insurance Lies
38 Myths and Misconceptions That Sabotage Your Wealth
by Kim D. H. Butler and Jack Burns
Let’s start with this best life insurance book about busting myths. Most of us have very little idea about life insurance, so we believe whatever information we overhear here and there. This book will give you distilled information about life insurance, which you should’ve known before you turn 30. This information will save you a ton of money and will make a great protection fund for your family. If you don’t take action now, you have to pay much more to get the same sort of protection fund. So, pick this book up (even if you’re more than 30) and act prudently. This book is very practical, and you can immediately implement the lessons in your life. The best way to read this book is to read each chapter, take notes, and see whether you’ve made a similar mistake. If yes, change it; if no, go on to the next chapter and repeat. We’re recommending this book to bust the myths, but don’t expect it to be filled with technical jargon and calculations. This book is written for a layman and in the form that speaks to an audience who needs to learn the basics of life insurance.
- You may have many questions regarding life insurance. For example, you may ask, isn’t life insurance a waste of money? Don’t I lose all my cash when I die? Or something like, should I do life insurance for my spouse and family? This book will answer all of your questions.
- After reading this book, you can go ahead and read something more technical to make sense of how you can go for life insurance.
#2 – The Tools & Techniques of Life Insurance Planning
by Stephan R. Leimberg, Robert J. Doyle and Keith A. Buck
This book is not a basic book, and you need to go really deep to understand this book, and it’s required if you want to make a prudent decision. Life insurance seems so easy. When we decide to take life insurance, we call an agent, talk to the agent about the options we have, and then choose one which seems the best among all. But life insurance isn’t as simple as that. There are many other considerations that you should pay heed to, like – compensation and benefits, estate tax, business succession, survivors’ needs, and wealth transfer. You need to value each factor with equal measure and then decide which life insurance you should take. If you want to avoid all complexities, just read this book after reading a basic book on life insurance. Reading this book will help you with tools and techniques of life insurance planning, and then once you’re convinced with the figure, you can go ahead and talk to your agent about taking the best life insurance.
- Unlike any other book, this isn’t easy to read because it covers every aspect of life insurance so that you don’t get fooled by people who know more that you.
- This book is very comprehensive, and you don’t need to read another book on life insurance planning if you can chew the information this book has presented.
#3 – Confessions of a CPA: The Truth about Life Insurance
by Bryan S. Bloom
What if you get a book that can show you all the nooks and corners of a permanent life insurance policy and guide you all throughout your life? Would you pick up that book and read it? Well, this top life insurance book is the exact solution for any issues related to life insurance. You will not only get a practical look at all life insurance policies; you will also get an overview from a professional who has been there and seen that. This life insurance book teaches you exact things to prevent your money from slipping away through your fingers and assist you in using your money in other tax-efficient, growth efficient investment portfoliosInvestment PortfoliosPortfolio investments are investments made in a group of assets (equity, debt, mutual funds, derivatives or even bitcoins) instead of a single asset with the objective of earning returns that are proportional to the investor's risk profile.. You will also learn some fundamental rules of investment like “the rule of 72,” “opportunity cost,” “compound interest,” and so on and so forth. Moreover, you will also be able to relate to a lot of real-life examples that help you understand the concepts better. In a nutshell, this is a must-read book before you ever think about taking a permanent life insurance policy.
- The author mentions that there are three types of knowledge that we have – “consciously competent knowledge,” which we are consciously aware of, “consciously incompetent knowledge,” which we are consciously not aware of, and lastly, “unconsciously incompetent knowledge,” which we don’t know that we are not aware of. This book will teach you the third type of knowledge.
- In this concise volume, you will learn a lot about life insurance, which will make things quite easy for you to implement.
#4 – Questions and Answers on Life Insurance
by Tony Steuer
This book will show you exactly what you need to know. After reading this book, many readers have mentioned that this book is truly written for consumers, and the author really cares about the consumers and their interest. Not only will you get a lot of real-life illustrations of how to evaluate an insurance policy and how to understand death claims, but you will also get a lot of answers for all your questions in regard to the life insurance field. If you’re a consumer and you don’t have a clue about what life insurance to take, read this book, and you would know. Reading this best life insurance book will equip you with the tools and techniques required to know to ask your agent the right questions and to do due diligence on your own. Plus, any layman can read this book. It’s lucid, interesting to read, and very much comprehensive. Pick up this book, and read sequentially. Once you complete reading this book, go, talk to your agent, and take life insurance based on your knowledge and prudence. Reading this book will make reading everything else unnecessary.
- There are four most important things you will learn – how to do life insurance planning, how to keep your policy in force, how to go for due diligence and company evaluations, and what pitfalls you should look out for before taking a life insurance policy.
- This book is all-in-all for those who don’t have any knowledge of life insurance. You will get all the answers you may have in this book.
#5 – New Life Insurance Investment Advisor:
Achieving Financial Security for You and your Family through Today’s Insurance Products
by Ben Baldwin
Once you have a basic idea about life insurance, it’s time to see it as an investment and savings tool. If you don’t have any idea about life insurance, this may not be the right book for you. First, realize why you need a life insurance policy, why you shouldn’t pay heed to every agent, and why everything that is said about life insurance isn’t true. And then come back to this book. This book is advanced, and if you want to take your life insurance investment to the next level, read this book. This book is clearly written, and any layman can read this book (but you shouldn’t before you ever read a basic book on life insurance). Other than usual consumers, this book is a perfect guide for those who would like to take financial planning as a profession or who already have a few years of experience in financial planning. Plus, you will also get to know the details of the life insurance products you can invest in and multiply your money.
- This book is completely based on looking at life insurance from different perspectives. Other than life protection cover, life insurance also can be treated as an investment product. Based on the information of this book, you can buy the right life insurance policy to multiply your money.
- This book covers the pros and cons of internet purchase of life insurance, how to use capital within a policy, an overview of the different stages of life insurance, and so on and so forth.
#6 – Live your Life Insurance
Surprising Strategies to Build Lifelong Prosperity with Your Whole Life Policy
by Kim D. H. Butler
If you have ever asked yourself the question – “but how life insurance would help me multiply my money other than providing for my death-coverage?” this is the book for you. This is a very short book compared to any life insurance guide in the market. But it will help you understand different types of life insurance policies and show you how in creative ways, you can build tax-deferred/ tax-free growth of your money using life insurance policies. The greatest thing about this book is this book shows you how to take advantage of your life insurance while you’re still alive, not only for payment to your family after your death. As you can expect that this subject isn’t an easy topic to discuss, the author does a great job of chucking it down into tiny steps so that the average readers can understand the concept. Moreover, the author also talks about how to approach life insurance in your 20s, 30s, 40s, and 50s. In a nutshell, the author’s financial advice regarding life insurance is top-notch and useful for everyone who would like to multiply their money over the years through life insurance.
- This is a very concise guide. All you need to invest in an afternoon to go through all the concepts. If you read through and apply all you learn from this book, you will never have any doubt about life insurance.
- This life insurance book shows you how to take charge of financial life in your 20s, 30s, 40s, and 50s.
#7 – Money. Wealth. Life Insurance
How the Wealthy Use Life Insurance as a Tax-Free Personal Bank to Supercharge Their Savings
by Jake Thompson
This is again a concise guide on life insurance. But it doesn’t talk about the old basic principles of life insurance; rather, it takes the discussion beyond simply using life insurance as a saving and investment tool. This book will show you how the wealthy use life insurance to make more money and receive more tax-free income. If you would like to read this book with understanding life insurance as a protection coverage tool, then you may feel disappointed. Because this book assumes that you already know the magnificence of having the right policy to protect your family. It will answer few burning questions you may have about life insurance like – what would happen to the cash vault built up after the insured dies; can grandparents ensure their grandchildren to benefit their grandchildren; how can you convert a 401(K) to a lump sum policy; does death benefits decrease after 7 years, if yes, why and so on and so forth. However, this book will not answer all your questions. You can use a fundamental life insurance book handy, and along with that, you can use this book as a reference to become wealthy through life insurance.
- You will be able to know how the wealthy use life insurance to create more wealth, reduce risk, and create predictable income, and also how one can earn 300 percent returns by leveraging their insurance policies.
- You will also get to know why banks and corporations invest billions of dollars in this one industry plus how you can save taxes and make more money using life insurance policies.
#8 – What’s Wrong with Your Life Insurance
by Norman F. Dacey
Let’s say you want to read a bible on life insurance. Your only preference is the information should be relevant, and it should tell you everything you need to know (even the darkest truths) about life insurance. Well, this book is slightly old but can be called the bible of life insurance. Reading this book will make you realize that life insurance has a lot many facets than your agent ever tells you. For every consumer who has been thinking of buying an insurance policy or someone who has been making a living selling life insurances, this book is a must-read. This is the kind of book which you should keep at your desk at all times if you’re involved in selling financial products/helping clients in financial planning. This book may seem to you as negative at times because this book focuses on the wrong things in life insurance so that you can make them right as an agent and as a consumer. Before you ever take life insurance or if you consider taking the second/third one, read this book first. And you would be aware of the flaws of the life insurance market, and rarely anybody would be able to fool you by their clever tricks.
- This book is completely updated and edited as per the need of today’s life insurance market. So don’t put it off just because it was written 25 years ago.
- This book has alerted thousands of Americans over the years from the abuse and greed of the life insurance market. It can help you too.
#9 – How Your Life Insurance Policies Rob You
by Arthur Milton
This book is just an extension of the previous book. This book is a short, sweet guide and will protect you from the deception of the life insurance industry’s sugar-coated attacks. It’s all good – protecting your family with a life insurance policy, knowing everything about how life insurance planning works, how to use life insurance to your advantage and save tax and make more money, how you can increase your returns on life insurance. But very rarely people talk about the pitfalls of life insurance, which as a consumer and as a new life insurance agent, you should know. This life insurance book not only talks about the bad side of the life insurance business, but it also tells you the history of life insurance, which helps you connect the dots and relate to what the author is trying to explain. If you read the book “What’s wrong with your life insurance,” along with this book, you won’t have a doubt about what type of life insurance you should take. This book will save you a ton of money, and you will be able to save and invest in better instruments than cash-value life insuranceCash-value Life InsuranceCash Value Life Insurance is a Permanent Life Insurance type that offers an additional savings component, i.e., cash value, to the policyholders, which they can later use for loan or policy premium payments. It contrasts with the typical Term Insurance, where the benefit is received only after the policyholder’s death. .
- You will learn the two most important things in this book –
- First, life insurance agents sell cash-value life insurance only for one reason, and that is to earn a commission.
- Second, you don’t need to take cash-value life insurance at all. Cash-value insurance is just term insurance with a component of savings with a poor earning rate. If you take term insurance, you can invest the rest of the money into other better investment tools.
#10 – Consumer Reports Life Insurance Handbook:
How to Buy the Right Policy from the Right Company at the Right Price
by Jersey Gilbert, Ellen Schultz, and Consumer Report Books
This book isn’t recommended for everyone as the content of the book is priceless, and this book is a little expensive since it is out of print as of now. If you have very much concerned about life insurance and you have enough money to buy a book over $200, this is the only book you should read. Filled with consumer reports, this book will help you decide the right life insurance to take and reject the rest of the policies. This book will also enlighten you about the lies of the life insurance industry and will hand you tools to overcome them. This book would be helpful if you have a family, and you want to protect their interest by all means. It will save you from the noise and smoke of the industry and will give you the distilled information about how to make a move, how to think about a life insurance policy to protect your family, and how to never get befuddled by any life insurance agent anymore.
- This book was written back in 1967, and over 400 life insurance policies are rated here to find out the truth from the noise.
- From this book, you will find a lot of reports and articles offered by the consumer reports, which will help you decide how much insurance policy to buy and which one to buy among all the options you have.
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