WHAT IS
INFINITE BANKING?
Simply, it's Overfunded Whole Life Insurance
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So, Why Overfunded Whole Life Insurance?
We emphasize the importance of overfunding when setting up your policy. In traditional financial planning, whole life insurance is structured to provide the largest death benefit at the lowest cost. However, with overfunded whole life insurance, the goal shifts to maximizing living benefits while minimizing the death benefit.
This strategic approach is ideal for those who want to utilize their life insurance as a dynamic financial tool during their lifetime—not just as a benefit for their heirs.
When properly designed and managed, overfunded whole life insurance becomes a powerful foundational asset for your financial strategy. It grows your wealth consistently over time, provides essential protections (including a death benefit), and gives you the flexibility to access your money as needed.
Explore the comparison below to see how Infinite Banking differs from a traditional whole life insurance policy and why it’s a game-changer for building financial security.
How Specially Designed Whole Life Works Different Than Regular
With Specially Designed Whole Life
High Early Cash Value
Liquid ( Early)
Private (Flexible Premium Payments)
Tax Advantages (Able To Use While Alive)
Growing Death Benefit
Safe (Competitive Returns)
With Regular Whole Life
High Fees
Lacks Early Liquidity
Low Long-Term Growth
Mandatory High Premium Payments
Very LOW Returns Early on Cash
No control over your money
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Let's Understand How Infinite Banking Can Work Throughout Your Life
Uninterrupted Compounding
Traditional financial strategies often lose momentum due to what we call the four compound killers: taxes, fees, market volatility, and the loss of growth when capital is used.
Infinite Banking eliminates these obstacles, allowing your money to grow continuously. Your wealth is shielded from these common disruptions, ensuring true, uninterrupted lifetime compounding.
This approach empowers you to steadily build and preserve wealth, providing a secure foundation for your financial future. It’s a strategy designed to protect your money while maximizing its potential.
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Infinite Banking not only provides uninterrupted, lifetime compounding but also gives you the flexibility to access your capital when needed through a built-in collateralized loan feature.
This isn’t just about storing money—it’s about putting your money to work for you. Enjoy the dual benefits of financial growth and liquidity, much like a high-yield savings account but with the added advantages of life insurance.
Access your funds for a variety of purposes—whether it’s seizing opportunities, covering emergencies, or fulfilling financial goals—without interrupting your long-term wealth-building potential.
With Infinite Banking, you have the control to grow and use your wealth on your terms while securing a financially sound future.
Plan for the Future of Taxes
Do you think taxes will go up or down in the future? If you answered "up," we agree. If you think they’ll go down, take a look at the national debt clock and reconsider.
Infinite Banking offers a strategic hedge against future tax increases:
Tax-Deferred Growth: Your investments grow without immediate tax impact.
Tax-Free Access: Access your funds tax-free throughout your lifetime, in accordance with Section 7702(a).
Income Tax-Free Legacy: The death benefit is passed on to your estate and beneficiaries free of income tax and without the delays of probate.
Much like a Roth IRA, you won’t get a tax deduction upfront, but once your capital enters the policy, it grows tax-free, and you won’t pay taxes again if managed correctly. By paying taxes now at potentially lower rates, you secure yourself against the risk of higher taxes in the future.
This is why Infinite Banking is such a powerful financial strategy—it helps you keep more of your money working for you, now and in the future.
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Give Your Dollar More Than One Job
Infinite Banking isn’t just a savings strategy—it’s a versatile tool for your money. Think of it like your smartphone, which does far more than make calls or send texts. Infinite Banking is the 'smartphone' of your financial strategy, giving your money multiple roles to play.
Secures Lifetime Growth: Your wealth grows steadily and uninterrupted.
Puts You in Control: Access and use your money when and how you need it.
Ensures Future Cash Flow: Plan confidently for financial goals and opportunities.
Safeguards Your Legacy: Protect your assets and ensure they are passed on securely.
Infinite Banking is designed to do more than one thing. It’s a multi-functional approach to building and using your wealth, helping you maximize your financial potential and long-term well-being.
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Infinite Banking not only protects your loved ones with a death benefit but also offers valuable benefits while you’re still alive. It’s a financial tool that supports you in both expected and unexpected moments of life.
Living Benefits: Access built-in riders like chronic illness and accelerated benefits.
Coverage for the Unexpected: Be prepared for life’s uncertainties with additional support.
Financial Flexibility: If you face a terminal illness or lose the ability to perform daily activities, these riders let you access your death benefit while you’re still alive.
Infinite Banking provides financial security and flexibility when you need it most, ensuring peace of mind for you and your family as you navigate life’s challenges.
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Infinite Banking can be a powerful addition to your retirement strategy, offering flexibility and security for your financial future. Research shows that properly structured whole life insurance can provide a more effective diversification tool than bonds for retirement planning.
Maximize Retirement Potential: Leverage unique features to increase cash flow during retirement.
Protect Your Savings: Ensure your retirement funds remain secure, no matter the market conditions.
Tailored Strategies: Access financial solutions designed to meet your specific retirement goals.
With Infinite Banking, you can build the retirement you’ve always envisioned. Discover how this approach can elevate your retirement strategy and provide peace of mind for the years ahead.
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Understanding Your Monthly Mortgage Protection Insurance Cost: A Comprehensive Guide
Introduction to Mortgage Protection Insurance
Mortgage Protection Insurance (MPI) is often an overlooked yet essential aspect of homeownership. It provides financial security for homeowners and their families against unexpected life events that could lead to mortgage default. As such, it serves as a safety net, ensuring that your home remains a cherished asset for your family, even in times of distress. In this article, we will dive deep into the fundamentals of MPI, including its importance, how it functions, and the various factors that impact the costs associated with it. We will also explore different types of MPI, offer tips to reduce your premiums, and help you understand the terms and conditions of your policy.
Understanding the Importance of Mortgage Protection Insurance
Mortgage Protection Insurance is designed to cover mortgage payments in the event of your untimely demise, disability, or job loss. Here are a few reasons why MPI is important:
Financial Security: MPI ensures that your loved ones can keep their home despite unforeseen circumstances.
Peace of Mind: Knowing your family is protected from financial burdens provides peace of mind for you as a homeowner.
Simplified Options: Many MPI policies are straightforward and don't involve complex underwriting procedures.
By investing in MPI, you can safeguard your family’s future and ensure that they stay in the home you worked hard to acquire.
How Does Mortgage Protection Insurance Work?
Mortgage Protection Insurance functions as a term life insurance policy, specifically designed to pay off your mortgage in the event of your death. Here’s how it works: 1. Policy Structure: When you purchase MPI, you agree to pay monthly premiums for a specified period. The coverage amount typically corresponds to your outstanding mortgage balance. 2. Payout Conditions: If the policyholder passes away, the insurer directly pays the remaining mortgage balance to the lender. This means no financial burden is left for the surviving family members. 3. Exclusions: It’s essential to understand that MPI typically does not cover scenarios such as pre-existing health conditions, suicide within a specified period, or non-payment of premiums.
Factors Influencing Your Monthly Mortgage Protection Insurance Cost
A variety of factors can influence the cost of your monthly MPI premiums:
Age: Younger homeowners usually pay lower premiums.
Health Status: Pre-existing conditions can increase costs, while a clean bill of health can lead to lower premiums.
Mortgage Amount: Higher mortgage balances result in higher coverage amounts, thus raising premiums.
Coverage Length: The period for which you wish to have coverage also impacts costs.
Gender: Statistics show that women generally pay lower premiums than men.
These factors can vary widely among different insurers, so it’s crucial to shop around for the best rates.
Dissecting Your Mortgage Protection Insurance Premium
To better understand your MPI premium, consider the following components:
Base Premium: The fundamental cost of your insurance policy based on personal risk factors.
Administrative Fees: Insurers may charge additional fees for administrative tasks such as policy issuance and management.
Rider Options: Optional add-ons (or riders) such as critical illness coverage or job loss protection may inflate your premium.
Understanding each element contributing to your overall premium can help you make informed decisions when selecting a policy.
Typical Costs of Mortgage Protection Insurance
The costs associated with MPI can differ considerably based on the factors mentioned earlier. Generally, you can expect to pay: - Monthly premiums ranging from $20 to $100. - Annual premiums that could range from $240 to $1,200, depending on age, health, and mortgage size. For example, a healthy 30-year-old may pay around $30 a month for a $200,000 policy, while a 50-year-old with health issues may see costs rise to $80 or more.
How to Calculate Your Monthly Mortgage Protection Insurance Cost
Calculating your MPI costs generally involves several steps: 1. Assess Your Mortgage Balance: Know your current mortgage levels to determine the appropriate coverage amount. 2. Personal Factors: Estimate how age, health status, and lifestyle habits will influence your premiums. 3. Use Online Calculators: Many insurance companies provide online calculators to give you a rough idea of costs. 4. Consult an Agent: Speaking with a financial advisor or insurance agent can yield personalized quotes that consider your specific situation. Once you gather the necessary data, you can make an informed choice regarding your MPI coverage.
Different Types of Mortgage Protection Insurance
There are mainly two types of Mortgage Protection Insurance policies available:
Level Term Insurance: The coverage amount remains the same throughout the policy term, providing predictable monthly premiums.
Decreasing Term Insurance: The coverage amount declines as your mortgage balance decreases over time, typically resulting in lower premiums.
Choosing between these types comes down to your financial situation and personal preferences.
Understanding the Terms and Conditions of Your Policy
Before signing any MPI policy, it's crucial to read and understand the terms and conditions thoroughly. Key elements to look for include:
Coverage Limits: Know the maximum amount your policy will cover.
Exclusivity Clauses: Be aware of exclusions that could affect your claim.
Renewal Conditions: Understand how your policy can be renewed and under what conditions.
A comprehensive understanding of your policy will help ensure you're adequately protected.
Tips to Reduce Your Mortgage Protection Insurance
If you're looking to lower your MPI premiums, consider the following tips:
Shop Around: Compare quotes from multiple providers to find the best rates.
Improve Your Health: Leading a healthier lifestyle can positively impact your premiums.
Increase the Deductible: Higher deductibles typically lower premium costs.
Seek Discounts: Some insurers offer discounts for bundled policies or safe driving records.
Finding ways to reduce your premiums can free up funds for other essentials in your household budget.
Conclusion
Mortgage Protection Insurance is an invaluable tool for homeowners seeking peace of mind and financial security. Understanding how it works, the associated costs, and various options available allows you to create a safety net for your family. While the process of securing MPI may seem overwhelming, it’s essential to stay informed and proactive to ensure that your loved ones remain protected. By examining your unique needs, exploring different policy options, and taking advantage of cost-saving tips, you can secure an MPI policy that not only meets your requirements but brings you peace of mind for the future. Investing time in understanding MPI is a step toward responsible homeownership and long-lasting family security.
We’ve Created A Calculator To Help You See How Much Potential Cash Value You Could Have In The Future
The Infinite Banking Difference
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Frequently Asked Questions
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How soon can I borrow against my whole life insurance policy?
When you properly structure whole life insurance intended for cash value growth, which we are experts at, you can borrow against your policy roughly 30 days from starting your policy. In some instances it can be even sooner but this is a good number for safe expectations.
What if my health is bad? What if I am too old for this Policy?
If you are older and or have health concerns there are options for you. Please watch this video as it gives you a more detailed response for all of those options.
This sounds too good to be true, why haven't I heard about this before?
Some would say if it sounds too good to be true, it is. But the reason why most have never heard of this concept is because it is not taught in formal financial education. It also isn't offered in standard jobs as a retirement plan. The banks want you to store your capital with them causing life insurance to get a bad wrap as it is misunderstood when it is designed properly for cash value growth. The banks and institutions tell us to store our money with them while simultaneously storing billions of dollars into Life insurance for multi dimensional uses.
What is your response to Dave Ramsey on permanent life insurance?
Dave Ramsey has provided a ton of value to many families. Dave Ramsey is not for everyone just like the And Asset isn't for everyone. Dave Ramsey is trying to speak to as many people as he possibly can while still being right. Dave Ramsey is not a fan of debt and leverage therefore for most real estate investors, business owners and individuals wanting to build any significant wealth, we believe would be underserved following Dave's advice.
With that being said we completely understand why Dave says what he says. What he does know about whole life is the typical whole life that is sold in the traditional way so we can't even say Dave is wrong. Therefore Dave and I are speaking to different audiences. He is an expert in getting people out of debt and we are the experts in setting up and properly using whole life insurance. We are for the audience who wants to build and pass down generational wealth to the people they love the most.
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