Infinite Banking Concept

I wish more people knew about this. Dividend paying whole life insurance with high early cash value is literally the best place you could ever park your excess cash. Different from a regular whole life policy where it takes years to build cash value

1. Up to 90% of your deposits available for you to use within the first 30 days

2. Table of guaranteed values. Policy will never be worth less than what you put in

3. Table of non-guaranteed values. This is where the magic happens. When the company pays a dividend and you have it set to auto purchase more insurance your policy grows exponentially. There are about 7 mutually owned insurance companies that have paid dividends every single year for over 100 years. While technically not guaranteed, that’s about as close to guaranteed as it gets

4. Tax free growth

5. Tax free Death benefit. When you die, your heirs will fight over your savings account at face value. With your policy, your beneficiary will receive the full death benefit (minus any active loans) with 0 hassle.

6. I skipped 5

7. You went back and checked

8. Safe from creditors and judgements

9. When you take loans from the policy, your policy still earns interest and dividends on the full face value. If you use the money for other investments you’re essentially making your money work twice as hard

10. Loans interest is in the 4-6% range calculated as simple interest. If you took 5k out of your savings for an emergency, wouldn’t you replenish that 5k as fast as you could? Treat the policy like your savings account and replenish it when you use it(loans). Unlike a traditional loan though, the insurance company doesn’t even care when or if you pay it back. Pay back on your terms.

11. No hassle to get the loan. No credit check, no asking what you’re using it for. Just fill out a form and get the $

I could go on and on but who is gonna read all that. I currently put about $35,000/year into my policies but you can set it up to be way less or way way more. I wish I started 10 years ago because this has catapulted my wealth significantly in only 3 years.

If you want to learn more there are a few good YouTube channels that cover it. Chris naugle, better wealth, bankers vault