You know one of the benefits of an Infinite Banking Concept is the ability to “be your own banker” and borrow against your life insurance policy.
But you might be wondering: “How exactly do I do that?”
No need to worry, because in this episode I’ll lay it all out for you step-by-step. I’ll also explain why even though it isn’t an “instant” process, IBC clients still prefer it far more than conventional bank loans.
Listen now!
Show highlights include:
- Why you can borrow against Whole Life insurance, but not Term Life. (1:40)
- What to ask your agent if you aren’t sure if you can borrow yet. (2:55)
- The “95 Rule” to quickly estimate how much you can borrow. (3:45)
- How your agent can often get your funds faster than requesting your loan online. (4:11)
- Real reason your Whole Life insurance company only sends one statement per year. Hint: It isn’t to save paper. (5:28)
- Want to borrow without paperwork? It’s possible, but here’s what you need to know before you try. (6:33)
- What actually happens with the interest you pay when repaying your loans. (7:42)
- How long it takes to get the funds you request, and common variables that could make it faster or slower. (9:15)
- Great loan debate: Small loans more often, or big loans occasionally? The clear winner explained. (10:59)
- Why clients prefer borrowing against Whole Life insurance instead of traditional loans from a bank. (11:50)
Reach out to me:
valerie@alphaomegawealth.com
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
