What is Infinite Banking?
Life insurance is known for the “Death Benefit” coverage that it provides the beneficiary. However, what isn’t widely known is that life insurance provides many “Living Benefits” that can be utilized during life. At the heart of Infinite Banking is the use of these benefits which provides more control over your finances, economic future and assets. Among these “Living Benefits” are: Liquidity, Safety, Rate of Return, Tax Benefits.
How Can It Help You?
It is important to note that Infinite Banking is not a “get rich scheme” or a solution to financial problems without action. Infinite Banking helps you eliminate common financial inefficiency, such as interest and finance charges to lending institutions (IE credit card companies, finance companies, banks, etc). This can save the average family $100,00’s of dollars over their lifetime. Imagine all of the interest you would have paid over a lifetime in your pocket instead of the banks. The most important component of this concept is education. The success of the system and subsequent financial well-being is in the hands of the practitioner. Understanding how to utilize and benefit from the “Living Benefits” of dividend paying Whole Life Insurance is simple and requires very little time commitment.