IBC 201: Life Insurance for Children and Grandchildren

IBC 201: Life Insurance for Children and Grandchildren
Are you’re already a few years into your first IBC policy, and you’ve seen and experienced the power of storing cash in a policy? You’re earning interest and dividends, have exceptional compounding power and guaranteed access to use your money, and you’re watching the death benefit increase.
Now you want to store more cash. Is it time to start another policy? Should you insure yourself, your spouse, kids, or grandkids? Why? How does it work when you start building a system of policies?
Today, we’re continuing the conversation in our series about how to take your Infinite Banking to the next level. Last time, we dug into how to maximize your current Infinite Banking Policy. We’ll talk about private family banking and insuring other family members, like spouses, kids, and grandkids. Next, we’ll talk about managing multiple policies.
So if you want to hear about what to do after your whole life insurance policy is already working to continue to grow and accelerate your cash storage and wealth creation … tune in now!
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[@felixsal6204]

Awesome Info ... 💯👍

[@TheMoneyAdvantage]

Glad it was helpful! Thanks for watching!

[@derrick_v]

Great information. Thanks.

[@TheMoneyAdvantage]

Thank you for watching

[@dandi12100]

A couple of things: if you have extra income and your current policy is being max-funded, why can't you simply increase the face amount of the policy? Also, there is one more party to a policy: Insured, Owner, Payor, Beneficiary

[@TheMoneyAdvantage]

Thank you for watching! Generally speaking whole life products are not designed to allow that. Some products allow riders that allow you to purchase small amount of death benefit at specific ages. Additionally other products like universal are more likely to have the ability to increase the death benefit (within the specific products limits).

[@dandi12100]

@@TheMoneyAdvantage Correct. That is one reason why I choose iUL's over Whole Life, because of their Flexibility. Flexibility in premium, flexibility in face amounts, flexibility in payment frequency, flexibility in investment strategies, etc. Great chanel, love the info! Would love to participate one day : )

[@TheMoneyAdvantage]

@@dandi12100 Whole life can have a lot of flexibility as well. While we personally prefer Whole life for ourselves as we value as strong of guarantees as we can get, we never start with products when working with our clients. At the end of the day the clients goals and strategy have to align with the product. Thanks again for watching.

[@dandi12100]

@@TheMoneyAdvantage I agree. However, in my 20+ years in insurance, my clients choose flexibility and potential for higher returns over a flat guarantee 99.9% of the time. Btw...I loved the interview with Rabbi Lapin a few months ago!