BBig Be Your Own Banker
“RECAPTURING WEALTH”
By becoming your own banker, you will turn your liabilities into a new asset by making money off your expenses. Keep your money safe & protected from market crashes [Recession Proof] with UNITERRUPTED COMPOUNDING GUARANTEED growth and the money is liquid “To Use but Never Lose It”. Along with creating substantial passive income throughout your lifetime TAX FREE and leaving a legacy to your loved ones, your business or a special charity that is near and dear to your heart.
- The Legacy Banking System also known as the Infinite Banking Concept (IBC) is a financial strategy that utilizes dividend-paying whole life insurance policies as a means to create a personal banking system. The concept was popularized by Nelson Nash in his book "Becoming Your Own Banker."
- Here's a brief overview of how the Infinite Banking Concept works:
- 1. Purchase a Strategically Designed and Engineered Whole Life Insurance Policy: Instead of relying solely on traditional banking institutions (which are criminals), individuals purchase a dividend-paying whole life insurance policy or as we called it, Modern Whole Life or Whole Life on Steroids from a mutual insurance company.
- 2. Cash Value Accumulation: Designed for banking, the policy accumulates cash value immediately, which grows and can be accessed tax-free through policy loans.
- 3. Policy Loans: Policyholders can borrow against the cash value of their life insurance policy at a relatively low interest rate. These loans can be used for various purposes, such as paying your bills, financing purchases, investments, or other financial needs. This allows you to win the opportunity cost game as we finance everything we buy by gaining interest or giving up interest. VICTORY!
- 4. Repayment and Recapture: When policy loans are repaid, the cash value is replenished, allowing for continuous use of funds (creating your own line of capital). This creates a cycle of borrowing, repaying, and recapturing, hence the term "infinite banking."
- 5. Tax Advantages: The cash value growth within the policy is tax-deferred, and policy loans are often tax-free if structured properly. This can provide tax advantages compared to traditional savings and investment accounts
- 6. Legacy and Estate Planning: Whole life insurance policies also offer a death benefit, providing financial protection for beneficiaries and serving as a component of estate planning along with living benefits where this now becomes your Aflac
