- 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
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.