Key Benefits of Infinite Banking
Infinite banking is a process that allows you to be your own banker by using their money to build net worth, life a prosperous life and pass your wealth to your beneficiaries. To qualify for a loan enough to pay your living expenses, make investments or plan your retirement you will have to do business with banks, lenders or brokers, however, practicing infinite banking is a way of avoiding all that. You are essentially running your business if you are practicing infinite banking which comes with an array of benefits. This article highlights some of the benefits infinite banking has to offer.
One reason to consider infinite banking is because your life insurance is a non-correlated asset; the value of your life insurance remains constant regardless of the fluctuations in the stock market which means your profits are guaranteed. Practicing infinite banking can help you join the elite group of individuals who enjoy various tax benefits; as a working individual you understand how draining taxes can be to your investments and in come, however, the guaranteed dividends you will receive when you practice infinite banking will be tax deferred, helping you save a lot of money in the long ruin.
To get loan from a bank or financial institution you will have to meet their qualification criterion, state the purpose of the loan and you will be limited on the amount you can get, however, you can avoid all that if you practice infinite banking where you have access to the amount you want for any reason as long as it is within the value of your life insurance. If you are wondering why you should try infinite banking, how about the dividends paid by the mutual company that will be managing it for you. The money in life insurance policy is often protected by statutes put in place by states, protecting your assets from creditors.
Family financing is another benefit of infinite banking system; when you are own bank you decide how you use your money which is beneficial in several ways including loaning to your company. Even if you borrow money against your life insurance policy it will continue to accrue interest at a steady rate which is even higher if they are paying dividends. Unlike the loans you get from banks and other lending institutions, you have the freedom to use the one you take against life insurance for anything.
Death benefit is another reason to use infinite banking system; it will ensure your family are paid in the unfortunate event that you die early with a whole life insurance policy. Experiencing an emergency when you don’t have cash to solve it can be frustrating and stressful but with infinite bank system you will have access to cash flow that allows you to act quickly and decisively in such a situation. Infinite banking is advantageous through the ways highlighted above.