Chances are you’ve heard of the concept of using a whole life insurance policy as your personal bank. We often get asked about it on the show, and as an “outsider” - someone who doesn’t sell insurance or own a permanent life insurance policy - I was curious to learn more about the strategy and how it works.
Daniel—thanks for a great article. I had never heard of ‘infinite banking’ and this was a great explanation of a complicated subject. Appreciate your hard work.
I always feel certain strategies are used to push people into products. "Infinite banking" seems like something everyone needs to be in. But is that really the case? The drawbacks are rarely ever talked about. I appreciate this balanced explanation. Nice job Daniel!
Some good education but pretty misleading, especially to show a 15 year breaken when a well designed policy from the major mutual companies breaks even in 5 years with no surrender charges. Among other things