Whole Life Insurance Infinite Banking Concept IBC Objections, Answered

Whole Life Insurance Infinite Banking Concept IBC Objections, Answered
Have you heard about Infinite Banking whole life insurance or be your own bank, but somehow feel left with a bad taste in your mouth and you’re not sure why?
We are airing some of the biggest issues most people have with whole life insurance.
So, whether you’ve heard infinite banking objections like: it’s "trash" cash value insurance, it’s more expensive than term, it takes years to grow your cash value, the returns are garbage, or that the insurance company keeps your cash value when you die … and these dangers you’ve heard about whole life insurance may have also sounded believable...
Today, we’re walking through a specific listener question that outlines probably every one-liner objection you’ve ever heard about whole life insurance.
So, if you want to understand the facts, find out the truth, and make educated decisions about the infinite banking concept and your finances … tune in now!
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[@jjsoccer1010]

You guys are beyond fantastic. I appreciate all the education from your channel. What I really like is that you're brave enough to read & respond to the criticism in a positive way.

[@TheMoneyAdvantage]

Thank you very much! Our pleasure!

[@dailstancill720]

42:03. NPV. So nice to hear Bruce. The chatter about term vs whole with no acknowledgement of NPV calculation is just lazy, cheap hyperbole. Objections answered and Q&A format is an effective way of engaging with your viewing audience; similar to a written case study describing hypothetical real life scenarios & what happens when a good plan is met with a punch in the face. Hats off!

[@TheMoneyAdvantage]

Glad you enjoyed this format!

[@dailstancill720]

"...asking questions with the intent to learn..." a must in a FOMO & fake news world!😎

[@TheMoneyAdvantage]

Agreed, the arrival syndrome is not good for anyone!

[@zachzezulka8659]

Whole life you have contact of growth. It will be worth face value at age 100 or 121. With that it is as solid as it gets.

[@TheMoneyAdvantage]

Thank you for watching

[@larrycox6614]

What's the approach for implementing IBC for a 70 yr old? Don't have 20-30 yrs for this to play out? If I'm not interested in doing real estate or starting a new business (not at 70), would you have suggestions to turn my cash value over that would exceed the interest rate charged for that withdrawal?

[@TheMoneyAdvantage]

Thank you for watching! We did an episode on this awhile ago: themoneyadvantage.com/too-old-for-infinite-banking/. The approach is different for everyone. We would need to know your full financial picture before making recommendations regarding life insurance or investments. If you would like to see how this could work for you, then book a call with our team here: themoneyadvantage.com/calendar

[@hamprepper]

Being in Bham, I knew Nelson & Mary well; One question I've wanted answered but nobody would say is What Mutual Dividend Pay WL Company has the best IRR?? This would consist of overhead cost, deaths avg per year, How well their bonds & etc. did. So YOY who had the best IRR & pays the best dividends (which have been going down with lower interest rates). Thanks, Hamp

[@TheMoneyAdvantage]

Thank you for watching! The publicly declared dividend (not all companies even publicly announce a dividend) is not the dividend each policyholder will get within the same company. Additionally each company calculates their dividends differently. For these reasons and the fact that illustrations are based on an unchanging dividend rate (which wont happen) illustrations will not answer this question. Here are two shows where we discuss the topic of dividends: 1) themoneyadvantage.com/whole-life-insurance-dividends/ 2) themoneyadvantage.com/whole-life-insurance-dividends-and-interest-rates/

[@dailstancill720]

A recent fan of Hegna!!

[@TheMoneyAdvantage]

Thank you for watching!

[@paulstutsman]

The comment you guys are talking about has been copied and pasted on a bunch of posts about Whole life. The only thing I can figure is this person is paid by the buy term and invest the difference crowd. It is deliberate noise.

[@TheMoneyAdvantage]

Would not surprise us! We figured we would turn it into some great content :)