Key Benefits of Infinite Banking
Infinite banking, also known as being your own bank is a process that allows you to use the cash value of your life insurance policy for tax free loans which you can use for various investments. Infinite banking is a good way of cutting middlemen out of your deals while still ensuring your live a happy and lucrative life, finance your retirement and investments too. The advantages of practicing infinite banking are a lot more than just avoiding doing business with certain middlemen. If you have not tried infinite banking, here are advantages you are missing.
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.
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. Infinite banking is a good way of being your own bank because it protects your assets from creditors thanks to the statutes enforced by most states in the country.
Infinite banking is beneficial because it gives you control of your money which you can use to finance various things including your company while imposing interest at a rate of your choice. 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 can use the loan you take out against your policy for anything; you are limited in the things you can do.
Your life insurance policy will benefit your loved ones due to early payout in case you die early. 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. These are the key benefits of practicing infinite banking.