Whole Life Insurance vs Index

Let’s talk about infinite banking; you’ve been hearing people talk about it. You’re like asking yourself this question which one should I get? Whole life insurance for infinite banking or Index Universal Life for infinite banking. Which one makes sense that you’re going crazy asking yourself.I’m confused; one agent is saying I use whole life insurance, another agent is telling me to use IUL: index universal life, and they bring up this conversation about the wealthy people who have been using it, and they give you examples of Disney world or JC penny.

Let’s talk about which plan makes more sense for your whole life situation for infinite banking or index universal life for infinite banking

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Here’s the answer, and you’re getting it from a guy that owns over 15 policies. My goal is 20, and I have my whole life; I have IUL, and I use both of them for infinite banking concepts they all work. Infinite banking is just an acronym; it’s just a name and doesn’t have anything to do with the product they use other than which plan; if it’s designed properly, which one should I use.

Here’s how you keep it simple for your life. Whole life insurance is there to help you replace savings account money market account CDs why because those accounts pay a very low-interest rate on the standard savings money market, and CDs whole life insurance designed properly with paid-up addition riders built into it so you could access cash immediately not a year not two years is designed to replace those bank accounts, that’s why it’s called infinite banking, and that’s the same product years ago that what Disney used to buy Disney world.

- To invest in Disney world, that’s the same product that JC penny used years ago to pay its employees because its whole life insurance has been around forever, not an index universal life index.
  universal life just came into the marketplace about 15 years ago, so there’s no way on earth that what did they use indexes universal life, and that’s of the conversation nowThe next one is index universal life
  it’s designed to do what I call TSP 401k rock ira. The index universal life is those products on steroids, it could do everything those products can do, and more so, I call it a long-term play now. If you build it correctly, you can access cash immediately next year, depending on the rider. there are some riders you could add to it which cost you money to do what to access funds in the first year now if you want money out of your policy immediately, which we don’t want to do, but if you do, whole life makes sense for that if you are looking for long-term play,can you have both?
  Yes, you can have a whole life and index universal life altogether; you have two policies. The key is this you need to remember life insurance be its whole life or index universal life is a parking garage to park money. It is it’s a parking garage to park money, and it’s not an investment, so if anybody calls it an investment, run away from them. It’s a parking garage to pack money so that you can now take advantage of opportunities when they present themselves.

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