Modified Endowment Policy vs. Permanent Life Insurance
A modified endowment policy is a life insurance product that can be useful for estate planning or retirement income with less volatility than market-based assets. It’s considered a form of limited pay permanent life insurance because it’s often purchased in one lump sum or over the course of a fewContinue Reading
How to Be Your Own Banker in 5 Steps
So you want to be your own banker? Many families utilize participating cash value life insurance as their own private banking system, allowing them to maximize their income and protect wealth from future market downturns. But how do you get started? Read more: Understanding the Basics of Infinite Banking BeContinue Reading
Limited Pay Whole Life Insurance: Choosing a Policy
Limited pay whole life insurance is a type of permanent life insurance policy that is designed to pay all premiums on a predetermined schedule rather than annual payments for life. Like any major purchase, the decision to make smaller payments over a longer period vs. making larger payments to payContinue Reading
Build Your Own Bank with Whole Life Insurance
Have you ever wondered how to build your own bank using a whole life insurance policy? Also known as a 770 Account or Wealth Maximization Account™, properly structured participating whole life insurance policies contain unique features that allow you to use life insurance as though it were your own privateContinue Reading
How to Start Infinite Banking
Curious how to start infinite banking? You’re not alone. Infinite banking is becoming increasingly popular among American families as people look for ways to diversify wealth away from the stock market and reduce exposure to market volatility. Cash value whole life insurance is a proven strategy for growing and protectingContinue Reading
What Is a Modified Endowment Contract?
What is a modified endowment contract? If you’re shopping for a cash value life insurance policy like participating whole life insurance, you may have heard of the term “modified endowment contract” or “MEC” and how it can strip your insurance policy of certain tax advantages. Pay too much into yourContinue Reading
How to Set Up an Infinite Banking System
The infinite banking system is a wealth strategy that utilizes dividend-paying whole life insurance as an alternative to saving and borrowing with a traditional bank. While there are several benefits to using a whole life insurance policy as your private bank, perhaps the two biggest draws are its tax advantagesContinue Reading
What Is Modified Whole Life Insurance?
Modified whole life insurance, also called modified premium life insurance, is a type of permanent insurance coverage that charges lower premiums than a regular whole life policy in the first 5-10 years. After 5-10 years, policy premiums go up and typically cost more than a regular whole life policy. InContinue Reading
An Introduction to Using Life Insurance as a Bank
Life insurance as a bank? If you’ve never considered the living benefits of a life insurance policy, you’re not alone. The majority of people who purchase life insurance do it for the death benefit. So, it might surprise you to learn that you can use certain types of life insuranceContinue Reading
What Is Limited Pay Life Insurance?
Limited pay life insurance is a type of whole life insurance policy that is structured to only owe premiums for a set number of years. In other words, rather than paying your insurance premiums in perpetuity, you agree to pay them in full over a pre-specified time. With the limitedContinue Reading
