3 Reasons Why Whole Life Insurance is the Key to Infinite Banking Concept
We’re often asked “why is whole life insurance central to the Infinite Banking Concept”? Well, there are three main reasons why a properly structured, dividend paying whole life insurance contract can become an ideal cash flow and financing platform.
The first reason is access and control over your money. Banks and finance companies often demand personal guarantees or collateral requirements for loans. But if you have cash value in your life insurance policy you have a right to policy loans, no questions asked.
The second reason is the flexibility of repayment terms. Again, unlike a commercial bank, a policy loan can be paid back whenever you desire, or not at all.
And the third reason is compounding. Regardless of how much money you borrow, your policy continues to grow through interest and dividends.
For more information on how to become your own source of financing, give us a call or visit our website today.
Donald G Turnbull
Financial Advisor, Investment Advisor, Whole Life Insurance