Episode #279: Why Insurance Companies Can Be a Safer Alternative to Banks


Do you ever wonder why we hear about banks failing during financial crises but rarely, if ever, do we see a headline about an insurance company failing? It’s because the assets that are in the reserves of the banking system are utilized very differently than the assets within the reserves of an insurance company. Since they function differently, they also have different safety nets and procedures in place that can affect their ability to protect consumers.

In this episode of Money Script Monday, Kevin juxtaposes banks and insurance companies to unveil the operative functions and safeties that contribute to banks being riskier than insurance companies.

Resources Provided for This Episode

Want consumer-friendly videos sent to your inbox every week? Sign up to receive to receive LifePro's weekly Money Script Monday video series providing financial clarity, dispelling myths, and showing you how money works in 10 minutes (or less). Subscribe now!

Have any questions? Give us a call at 888-LIFEPRO or email us at info@lifepro.com.

Want to learn more about how we can help with your unique financial situation? Fill in your contact information below, and we'll get started right away!

Advisory Services offered through LifePro Asset Management, LLC. The information presented here is not specific to any individual's personal circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials.

About Kevin Nuber

Kevin Nuber is the Vice President of Field Support at LifePro. He coaches hundreds of financial professionals on how to build effective financial strategies that achieve their clients' long term goals and helps them stay educated on the latest industry trends.