Top 5 Reasons to Engage in the Infinite Banking Concept
Many people ask us, why should I consider engaging in the Infinite Banking Concept with a whole life insurance policy? Well, here are 5 reasons why:
One – Whole life insurance is a non-correlated asset – meaning it’s not tied directly to the fluctuations of the stock market, adding safety and diversity to your portfolio.
Two – You literally become your own banker, using the cash value of the policy to finance anything from a car to a college education.
Three – Whole life policies are tax- advantaged. Those loans just mentioned, they’re tax-free – and so are any dividends you receive, as well as the growth in your policy.
Four – Life insurance information is private. No one can learn about your financial assets through credit reports or searches if you borrow on your policy.
Five – There is a death benefit – and unlike any R-R-S-P or R-P-P payout to a beneficiary, life insurance death benefits are tax-free.
To learn more about how you can become your own banker with a properly structured, dividend paying whole life insurance policy, please give us a call today.