The Infinite Banking Concept uses whole life insurance as its way to manage your savings and put money in a better environment. Participating whole life insurance is picked because the companies behind it have been around and profitable for over 150 years. These companies are mutual insurance companies, which means the people who have policies with them are also owners, and they get a share of extra profits through dividends. When set up correctly, high cash value life insurance gives you advantages like easy access to your money, asset protection, safety, control, guaranteed growth, and tax benefits. Infinite Banking is NOT an Investment, it’s a Strategy.

Financial experts have come up with different names for similar ideas that use permanent life insurance to help people become their own bankers. This idea has been used by very rich individuals for a long time. Some other names for this concept include cashflow banking, the AND asset, The Private Reserve Strategy, bank on yourself, and Be the bank.

Most people who do careful research and understand the idea of Infinite Banking tend to see its advantages. Sadly, only a small group of experts in the field truly grasp this concept and can use it well for their clients. 

The goal of the Infinite Banking Concept is to make more money. It works like a system for handling your cash, where you regularly save money for investing. After saving enough, you can carefully pick investments that are likely to keep your initial money safe and give you good profits. This method aims to keep your money growing while you’re not using it for other investments.

Once you understand how the Infinite Banking Concept works, you’ll see that getting your hands on money doesn’t mean you’re taking it directly from the cash value of your policy. Instead, you get access to funds from the insurance company’s overall fund, and your policy’s cash value acts as security. It’s crucial to know that you’re not borrowing your own money, and it keeps earning dividends on the whole amount. Essentially, you’re using the insurance company’s money while your own money stays in the policy, growing over time.

No, you can’t transfer your 401k directly into the Infinite Banking Concept. 401ks have their own government rules. To get money from your 401k, you must follow these rules, but remember, doing so might mean paying taxes and other fees required by the government.

No, the insurance company doesn’t take away your money when you die. In well-organized policies, the cash value is meant to match the death benefit by the time you’re 100 years old. You’re assured of getting the entire death benefit. However, if you have unpaid loans from the policy, the insurance company will subtract that loan amount from what your beneficiaries receive as the death benefit. This happens because you’ve already borrowed and received that money during your life. The rest of the death benefit will go to your beneficiaries as planned.

You can usually get up to 90% of the money in your insurance policy. How fast you can get this money depends on your situation. When you first get the policy, it might take about a month. But after you’ve had it for a while, like 2-3 business days should be enough. The exact time can be different depending on the insurance company and how they do things.

In an Infinite Banking Concept (IBC) designed policy, there are four ways to get money: the sad way, the simple way, the smart way, and the sophisticated way. The sad way is when the policyholder passes away, and their chosen person gets the money. The simple way means taking money directly from the policy. The smart way involves getting a loan from the insurance company, paying interest, but letting your remaining money grow. The sophisticated way is using collateralized land from a third-party to get more tax-free money from the policy without facing Modified Endowment Contract (MEC) rules. Remember, IBC might seem tricky because a policy loan means borrowing from the insurance company and paying interest while your money keeps growing inside, earning interest without interruption.

Certainly, everyone’s situation is different. Some folks might have multiple insurance policies, with some even having more than 10. Starting with one substantial policy initially can be beneficial because it lets your money grow faster. However, some people might like having several smaller policies that match their specific life goals. The decision between one large policy or several smaller ones depends on what you personally prefer and your financial goals.

Our way of creating policies is different from most others in the industry. While traditional agents focus mainly on the death benefit, we put a lot of importance on making sure the policy builds up cash value. This approach helps us lower the commissions on the policy, which means more of your money starts working for you right away. Our main aim is to make sure you get all the advantages of Infinite Banking, which includes safeguarding, growing, and passing on your wealth. When you work with us, you’ll not only get a full grasp of the Infinite Banking idea, but also our commitment to your financial well-being. We prioritize your interests over our own commissions.

Once you’ve got your personalized Infinite Banking policy designed just for you, you’ll be able to see exactly how much Cash Value, Dividends, and Death Benefits you’re guaranteed to receive. This means you’ll know the minimum values you can count on for these important parts of your policy. This clear information helps you make smart choices and really understand the advantages and possible results of your Infinite Banking policy.

Mutual insurance companies focus on what’s best for their policyholders, while stock insurance companies prioritize their shareholders’ benefits. If you have a whole life insurance policy with a mutual company, you become a part-owner of that company. This means you have a share in the company’s success and your interests are aligned with the company’s overall well-being. Being a policyholder in a mutual company means you can trust that the company’s actions are aimed at serving policyholders’ needs and interests, rather than just making profits for external shareholders.

In our approach to the Infinite Banking Concept, we use a whole life insurance policy that provides great flexibility. These policies consist of a regular premium payment and an option to make additional payments using a paid-up addition rider. What’s great about this setup is that you can decide whether to make the extra paid-up addition rider payment each year or just a part of it, based on what works best for you. Moreover, over time, the dividends you receive may increase enough to cover your regular premium payment. This flexibility allows you to adjust your policy as your financial situation changes and potentially benefit from growing dividend payments, making it a versatile tool for implementing the Infinite Banking Concept.

Life insurance loans have a benefit – they give you flexibility in choosing how and when to pay them back. You can decide if you want to pay a fixed monthly amount or figure out your payments based on the interest rate and how long you want the loan to last. This flexibility lets you set the repayment terms that suit you best. Unstructured loan payments.

No, at first, you’re not using your own money. Instead, you’re taking a loan based on the money that’s been building up in your Infinite Banking agreement. It’s important to understand that when people talk about “repaying yourself” or “earning extra interest for yourself,” they’re just using these words to explain the benefits of paying back your policy loans quickly. The extra “interest” you add to your loan payments helps pay off the loan faster. Once the loan is fully paid off, all the money you were paying towards it can then go towards the Paid-Up Addition Rider mentioned in the contract. This strategy of “charging yourself higher interest” is a way to force yourself to save more money. It helps you preserve your money by putting it to work for you before you have a chance to spend it on other things and potentially lose it.

When deciding how to pay for your policy, you can choose to either fund it for a set number of years or pay for it throughout your whole life. Some people like the idea of making payments for a certain period, like 10 or 20 years. But if you start with a lifetime payment plan, you get more flexibility and options. You can stop making premium payments in the future while keeping all the benefits.

Yes in most states its 100% creditor protected.

The person who owns the policy can change the beneficiaries in writing, even after they’ve already gotten the policy.

Sure, it takes some time to make the most of the Infinite Banking Concept. But there are different ways to start your account, even if you’re older. You can speed up the process. The best way to find out what’s possible for you is to ask for a free consultation with no obligations. They can give you personalized advice.

Sure, the most important thing to think about is whether it’s a good idea. Making sure your own policy is the best it can be should be your main focus. One reason to use this strategy is if you can’t get insurance because of your health, but you still want to get all the benefits it offers.

You should make sure to get good insurance for yourself and your spouse first, before thinking about getting insurance for your kids or parents. After you have your own insurance, you can get a policy for your kids. This kind of policy can help with important things in your kids’ lives and teach them about money. Check out our videos for more details.

You can start an insurance policy when you’re just a few days old, which means even newborns can get coverage. On the other hand, the oldest age to begin a policy is usually 80 years old, although in some cases, it can go up to 85.

This financial tool works like a savings account you’d find at a regular bank, but it comes with extra guarantees. Unlike investments that can go up and down in value, Infinite Banking makes sure your money won’t go down in value. So, it’s more about saving money than trying to make it grow. You can start a plan with just a few hundred dollars each month, and it’s pretty flexible.

According to the rules of the Canada Revenue Agency, the money in your Infinite Banking policy is handled like life insurance, which means it’s not subject to taxes. Additionally, if you choose to borrow money from the cash value of your policy, that borrowed amount doesn’t count as taxable income because loans are not considered taxable.

The biggest danger with this method is that unexpected money problems could come up in your life, making it hard for you to pay the minimum yearly premium needed to keep your policy active. If that happens, you might have to give up your policy.

The companies we work with have a long history of more than 100 years. One important benefit of this product is that it doesn’t change in value like some other investments do when the market goes up and down. This stability makes it a good option for investors because it reduces the chances of losing money and can help you make more money over time.

We use a type of life insurance called participating whole life insurance to create a family bank. This helps us make the most of the money we put into it. With this plan, our clients can earn extra money through compound interest. Instead of taking out the extra money as cash, clients can choose to put it back into the policy. This makes the interest grow faster and builds up more money in the policy.

To add a child to the policy, the child should be at least 15 days old and healthy. It’s also a good idea for one parent to already have a life insurance policy. If you have questions or need more information about this, we’re here to help, even if you haven’t done this yet.

This program aims to help not just wealthy people but also folks from various backgrounds. With self-control, anyone can find success. We’re proud to help you understand the process and make it easy for you. You don’t have to be great at math because you can set the rules, and the company handles the rest. This lets your money grow through dividends and interest in your account.

You get to make the choice entirely on your own. You can pick whichever option you like best, depending on what you want and what’s going on in your life.

When handled well, you can avoid paying taxes. By using the right methods and following the rules, you can reduce or even completely get rid of any taxes that come with the process.