How To Become Your Own Bank With Indexed Universal Life

Learn how IUL is the ultimate tool to become your own banker.
This is a concept that is very intriguing and frankly a lot of people do not understand.
00:00:00 - Introduction
00:02:40 How money works
00:03:34 How to become your own bank
00:09:43 The key components of a prudent investment
00:14:54 Laser Banking
00:19:58 Want to learn more? Then get a free copy of my books!
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What To Watch Next
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How a Max Funded IUL Can Earn Tax-Free Returns that are Safer & Higher than Banks Offer
• How a Max Funded IUL C...
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[@user-oi3rp4tt6s]

Hello Doug, Interest earned is tax free but is withdrawal tax deferred? If it is then the only way to withdraw the interest tax free would be by loaning to self, in this case would you do the wash loan at 2-2 or at the 5%? If self loaning is the only way to withdraw on the interest (tax free), then do you just hold multiple loans for years or does rebalancing annually close the loan? Thanks!

[@umashankar6836]

Usually it will be 0.75 to 1.5% rate for the loans after charging and crediting the rate. There is no 2-2 wash.

[@missedfortune]

Cash value in life insurance grows tax-deferred and can be taxable if you tax withdrawals over your basis, surrender the policy or let it lapse with a loan balance. You can allow it to all be tax-free by taking zero wash loans or indexed/alternate loans and keeping a policy in force until death. The loans are not payable until death. The loan interest adds onto the loan balance if you don’t pay the loan interest. Then the cash value and death benefit is reduced by the loan balance when it is paid off at death. Money that goes into IUL is after-tax dollars, the cash value grows tax-deferred (section 72e), cash value and the gains are accessed tax-free (section 7702) and the death benefit transfers income tax-free under section 101a. See Section 1, Chapter 9, Figure 9.3 for an example of an illustration with loans. See these videos to learn more about how the loans work. kzbin.info/aero/PLF8af6gsBLflDP90-RmruHYJ_9rPRg5q2&si=8XOI-DalL2wMAo8L

[@hank6754]

Isn't it the case that the fees eat up too much of whatever returns you supposedly get? I hear that you need to structure this properly but no one explains how that looks so the fees don't rip your tiny profits from your hand.

[@umashankar6836]

Good question. Fees is calculated on monthly premium. Rate of return is calculated on total premiums paid for that month all the years

[@hank6754]

@umashankar6836 thanks, that's a good bit of info. My concern is that the insurance agent selling these plans doesn't understand this enough to explain it to the buyer, and the buyers just get taken advantage of.

[@umashankar6836]

@hank6754 true. Many agents don't want to give too many details. The information I shared was never shared by any agent and policy owners also don't know how these calculations are done because they don't look into statement in more detail

[@missedfortune]

Our specialists know how to structure these policies correctly. Have a free consultation here: 3dimensionalwealth.com/getstarted They will disclose all the fees.

[@johns4699]

I am almost 70 years old and poor health.The cost would be sky high.

[@missedfortune]

Don’t rule yourself out. If you’re insurable, the cost can be the same as a younger, healthier person. If your objective is tax-free growth and income, the amount of insurance required would be substantially less for you. Your rate of return would be essentially the same as a younger person. If you’re uninsurable, simply own an IUL on a surrogate insured (like a spouse or adult child).

[@13mowe]

you arre not telling all the risks as you go along ,,,,,