For those who have do not have life insurance or have never thought of it as a business opportunity are unfamiliar with the concept of infinite banking, which is the process of getting a loan which is the cash value of the policy. Infinite banking means you are using your own money to build and live a prosperous life without losing your life insurance policy. Getting the loan you need and avoiding to deal with banks and brokers in the process are just some of the incredible benefits of infinite banking that you will, enjoy. If you have life insurance or have never thought about infinite banking, below are important reasons to consider it.
Cash flow; in case of an abrupt occurrence that requires your immediate attention, you will access the cash you need to solve the problem immediately through infinite banking, whether it is an investment opportunity or emergency. One incredible benefit of infinite banking is that it entails a lot more than just accessing the money you want because you can also lend other people the money and charge an interest.
Perhaps the biggest benefit of practicing infinite banking is liquidity; the cash value of your life insurance policy is liquid and you can access it at any time for any purpose without having to qualify or meeting a particular criterion. Banks are a good source of money when you need, however, you will feel beholden and unable to make your own decisions which is why infinite banking offers you a way out. Practicing infinite banking is important because it gives you control on when you can get the loan and what you can use it for; it is unlike other loans that require you to state the specific purpose of the money.
Infinite banking is important because of equity; the money you are investing in your policy is growing because of compound interest. Infinite banking does not only give you access to the money you need when you need, but ensures the policy continues to grow at a steady rate annually.
Asset protection; when you buy life insurance, it is one of your biggest assets and you will be glad to know there are statutes put in place to protect it from the reach of creditors. If you have life insurance policy, there is a good chance it is being managed by a mutual company, which will be paying you dividends. The guaranteed rates of return found within life insurance as well as the dividends will be paid to you on a tax-deferred basis. Exploring infinite banking does not only enable you to be your own banker but also the advantages highlighted above.