Everything You Need to Know About the Benefits of Infinite Banking
Having control over your finances and debt by using a financial strategy is called Infinite banking. Its just like having your very own bank. Studies show that a lot of American are paying a lot on interests in their credit cards, mortgages, student loans and car loans.
Regular financial planning is only focused saving on the a small part of income. While for infinite banking, this strategy will help you pay off debts and redirect your income. If you want to have financial freedom then you need to learn about infinite banking. There are a lot of websites that helps you have financial freedom. Living wealth can help you manage and take control of your finances. You can visit their site to know more about infinite banking.
Here are the advantages of infinite banking:
A. Infinite banking has tax benefits
The death benefit of infinite banking is free of taxes. Aside from this its withdrawals are tax-free, policy loans are tax-free and tax-deferred growth.The withdrawal in infinite banking are tax-free, policy loans are free of taxes and tax-deferred growth. These are the benefits that you cannot get in other types of loans.
B. Infinite banking offers growth
You will experience growth with infinite banking. Your policy has a cash value and there are instances when you borrow more than you are supposed to, your policy will still have gain interest every year. If your policy has dividends then the rate of the interest will also grow. This is one of the main benefits of infinite banking.
C. Infinite banking pays for dividends
Mutual companies manages policies.
Mutual companies usually pay for the dividends.
D. Infinite banking protects your assets
Most life insurance policies will protect your money. Infinite banking can protect your assets from creditors.
E. Infinite banking allows you to liquidate your policy
You can liquidate your policy with infinite banking. You can check and access your policy when you need it. You are allowed to access your money when you need it. This is one of the main reasons why you should consider infinite banking.
F. Infinite banking offers freedom
You do not need to deal with banks when you have infinite banking. This is one of the main reasons why you should consider infinite banking.
G. Infinite banking gives you control
You can control your money with infinite banking. If you have an emergency you will be able to easily access your money. You are allowed to check and access your policy when you need it. You can use your money if you need it.
There are a number of consultants that help you have financial freedom. Living wealth can help you manage and take control of your finances. You can visit their site to know more about infinite banking.