Amazing Advantages 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. The advantages of practicing infinite banking are a lot more than just avoiding doing business with certain middlemen. Continue reading to learn reasons why you should consider infinite banking.
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. You understand how severely tax can drain your earnings and savings through the numerous deductions put in place, however, this extra money to be paid in cash can be saved if you practice infinite banking because the dividends extended to you will be tax-free.
Perhaps the greatest benefit of infinite banking is liquidity; you can access the cash value of your policy at any time and for any reason because it is liquid and provided the amount you need is within the value of your policy. 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.
You are the controller of your financing company if you are practicing infinite banking system, giving you the power to decide how the money is to be used. Infinite banking system is advantageous because it allows you to borrow money against your life insurance policy and it continues to earn interest for you. You have control of your life insurance policy through infinite banking which allows you to use the money for anything.
In the unfortunate circumstance that you die early with a whole life insurance your family will get an early payout unlike with other financial options. Infinite banking system will help you during an emergency when you need cash to solve a particular problem fast. Infinite banking is advantageous through the ways highlighted above.