Is This a Myth? All Whole Life Policies Work for Infinite Banking
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Is This a Myth? All Whole Life Policies Work for Infinite Banking
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A key benefit of Infinite Banking is the ability to borrow against the cash value in a Whole Life insurance policy. So you might be wondering: “Does it have to be specially built, or will any Whole Life policy work?”
This is a great question because it helps us appreciate the difference between something that technically works and something that works for you the best it possibly can.
In this episode, I’ll explain why it’s best to start with a Whole Life insurance policy specifically structured for IBC, when your interest is in creating a family banking system. I’ll also share when it makes sense to use your existing Whole Life policy, even though you started it before you knew what Infinite Banking was.
Listen now!
Show highlights include:
- Essential provision your Whole Life policy must have if you’re using it for IBC. (1:34)
- Why the actions you take matter more than compound interest. (2:19)
- Counterintuitive reason to repay yourself with more interest than the insurance company charges. (2:59)
- 3 ways your life insurance company can accept funds, and how it affects the extra interest you pay yourself on your loans. (4:28)
- Should you replace your traditional whole life policy? Here’s when it makes sense to keep it. (11:07)
- Ideal way to start IBC, so you can have cash value available sooner. (11:32)
- Why you shouldn’t use an IUL for Infinite Banking. (13:30)
Reach out to me:
valerie@alphaomegawealth.com
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)