Whole Life Insurance Instead of Banks?? See One of The MOST Popular Debt Weapons Exposed.

Matthew Pillmore, President of VIP Financial Education welcomes superstar advisor, Jim Beam to walk us through how Whole Life Insurance can help you leverage your money to build wealth over time and gradually eliminate the need for banks.
Interested in learning more? Schedule your one-on-one coaching session now if you have at least $500 in average monthly cash flow at: www.vipfinancialed.com
Here on the VIP channel, we are dedicated to bringing you experts who meet our strict requirements of integrity. Due to concerning feedback from several audience members, we have identified a replacement specialist who we are very pleased with that is willing to offer the same level of expertise about IGIC and IBC, but without a hard sale or poor customer service. For more information please send your name and number to:
EMAIL: [e-mail]
SUBJECT: IBC
INCLUDE: Contact Information / Direct Phone Number
Check out our latest videos on the Infinite banking concept:
Creating Money Out Of Thin Air (BANK ON YOURSELF w/ Infinite Banking Concept!)
► • Creating Money Out Of ...
The TRUTH About The Infinite Banking Concept!
► • The TRUTH About The In...
IBC Better Than Banks For Savings Account & Cash Flow?? (INFINITE BANKING)
► • IBC Better Than Banks ...
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#WholeLifeInsurance #BecomingTheBank #VIPFinancialEd #BeYourOwnBanker

[@HeritageWealthPlanning]

Universal life and whole life are two different animals. Never heard of "Universal Whole Life". I am giving the benefit of the doubt that this was a slip of the tongue, as I've had many myself on my youtube channel. But folks, if you're going to follow this strategy, PLEASE the love of all that is good.understand the difference between the two. Whole life is literally there for your WHOLE LIFE, if you make the agreed upon premium payments. Universal Life (UL) isn't. Oh it may be if it's funded correctly. But it my 20+ years experience, 10 working at one of the largest insurance companies that deal primarily with military families, the VAST majority of UL's are underfunded and thus are going to expire before the insured does, creating a huge tax hit and havoc to the estate plan of the insured. If that previous paragraph confuses you, PLEASE bone up on permanent life insurance before you drop any money into these policies.

[@jamescorr5733]

I have a NYLIC whole life policy. I have a loan against it. What they didn't mention is that it's possible to make more in dividends than your paying in interest. The interest on my loan is 5.5% but I'm making 6.2% on my policy!

[@LoganAddisMusic]

Nice!

[@pagogo84]

Word??🤔

[@TheDarriusjones]

What insurance company are you with??

[@MortonWaughMegistaSolutions]

Thanks for the info. When you have a guest let the guest do most of the talking.

[@VIPFinancialEd]

Morton Waugh, thanks for the feedback and appreciate you watching the video.

[@kylehoorn5192]

Morton Waugh agreed. Felt like the host kept trying to jump in to get in his 2 cents rather than listening to the guest. Made it hard to listen. Overall good content but very difficult interview to stick with

[@simplyzerkaa2658]

This was really spectacular !! good vid

[@VIPFinancialEd]

Thanks, Simply.

[@cherythalivitsa81]

Loving the video..its so educative on where our finances are getting drained..Where can I get that financial visual used on the video please?

[@VIPFinancialEd]

cheryth alivista, glad you found it valuable as far as the financial visual used in the video, I would suggest pausing the video and taking a screenshot as I unfortunately have no way of sending it to you directly. Thanks for watching!

[@letsgetitmindset4433]

Watching video in my car with volume at 100% and can barely even hear what he is saying

[@michaell8957]

I felt the same way, until the near end Watch((💻↔️📱)) 👀@31:40-34:30 Hope this help somewhat, you a little.

[@karltonhoskins317]

Awesome content explanation. Thanks for the enlightenment.

[@VIPFinancialEd]

Thanks Karlton Hoskins. I'm glad you found value in this video.

[@saidaliozdemir2287]

love the quality & I’m glad I found you

[@VIPFinancialEd]

Welcome to the community Said Ali!

[@aahnadhera5513]

Said Ali Ozdemir i

[@deannalea1515]

You guys are GREAT!! Awesome information, along with a charming presentation! You both are very handsome - you look younger than 35 (2+ years ago!?) Keep up the good work fellas! You crack me up too!

[@VIPFinancialEd]

Deanna Lea, ahh your making me blush now :) So glad you enjoyed the video as we appreciate your viewership and will definitely keep up the good work!

[@khongcolong]

Thank you for sharing the valuable info...

[@VIPFinancialEd]

Lebelle Beauty, you are very welcome and glad you enjoyed it. Thanks for watching!

[@maonaconsciencia2504]

I can't believe you dont have more subscribers !! thanks for this

[@VIPFinancialEd]

Thanks Nao! Glad you enjoyed the video.

[@Librarianbot]

Where can I find the calculator/spreadsheet you used in the video? Thanks

[@homeaudio1748]

Fantastic explanation guys! Great job Mat. All of your videos are extremely informative

[@VIPFinancialEd]

Thanks again, Home!

[@da_reel_bka.t.t.911]

VIPFinancialEd Good morning Matt. i've already signed up for my free coaching session,but it's in October. How can i speak to Jim and Rebecca? And also, is there anyway to speak to you sooner? My partner added 3 tradelines but i don't feel he maximized his opportunity...Would love to speak to you and your team

[@backfive6231]

Da_Reel_BK A.T.T. what is the best way to get ahold of you? Feel free to email me at [e-mail] and I'll get you pointed.

[@chrisdvine]

I wish there was a love button , thanks for sharing

[@VIPFinancialEd]

Ha, thanks Chris Devine!

[@darkbusters2062]

totally amazing & loved it

[@azmich6449]

I’m interested Matt.. thanks

[@JaMarrJ]

Excellent vid! I'm utilizing this in my practice as we speak!! Any live events in Los Angeles?

[@VIPFinancialEd]

Hi again JaMarr. No live events in CA currently planned. We were there upwards of 20 times last year and are making adjustments to travel and teach less and less.

[@derrickrhame4077]

Did you know BB&T Founder started when he got out of the military in which he took his GI Bill and started as a creditor for farmers

[@VIPFinancialEd]

Derrick Rhame, I did not know that and thanks for sharing!

[@derrickrhame4077]

@@VIPFinancialEd I read it in BB&T HISTORY book

[@ricardopintoduque9350]

Probably fully watch this later ;) top vid

[@VIPFinancialEd]

Thanks Ricardo!

[@jordanrodgers5216]

That's really cool, thanks for making that video. I'll be sure to subscribe!

[@VIPFinancialEd]

Welcome the the Cash Flow family Jordan! We're glad you're enjoying the video trainings so far.

[@micki777]

The banking example didn’t account for fractional reserve banking. The bank can loan against our money 9 to 10 times. So for every $100 we deposit they can lend $900 to $1,000 and increase their spread not just once but 9 to 10 times This video is a great example of why Henry Ford said there would be riots in the streets if Americas understood our banking system. But there is a way out and I love VIP! If only I understood this at age 18 when my mother gave me $10,000 as a graduation present in 1981. Geez! No crying over spilled milk. There are always opportunities for wealth 💪🏼

[@VIPFinancialEd]

Great point Micki! Fractional reserve banking is by far the most eye-opening profit system used. Only those who take pro-active, consistent action, stand a fighting chance in our current economic system. Thanks for your input!! ~Matthew

[@kenbonner5455]

I would definitely like a coaching session from Jim and Rebecca. Sign me up!

[@VIPFinancialEd]

Hello again, Ken. I just sent you an email introduction.

[@Pastor_RichieRamos]

Would like info on infinate banking , I'm a life agent where do I go , what do I read?

[@psibean5825]

Just one question. When can I borrow from my whole life insurance? Do I have to wait a period of time after i first sign up? then I could borrow or can I borrow within the first 3 mo's? Thank you and love your videos

[@stephaniafombo2468]

Psi Bean if you don’t mind I can answer your question. You can borrow out of your policy when you have cash surrender value, or if you contribute more money in your policy also called the seven pay you can pay borrow. But keep in mind that this is something you want to keep for 2 to 3yrs before borrowing, if contributing the seven pay or more than required. Remember this is the only way you pay yourself

[@wildercreekhoney]

I used to have one but they are expensive. They do work, if you can afford the premiums.

[@VIPFinancialEd]

Jeff Sadler, thanks for sharing your experience with them and watching the video!

[@larryamann4563]

Great stuff!

[@VIPFinancialEd]

Thank you for watching and commenting, Larry Amann.

[@carliwells]

I have an iul. Starting to feel like it's a mistake. Fees are outrageous

[@VIPFinancialEd]

Carli wells, thanks for sharing your feedback.

[@incogb6696]

thoughts a year later? :p

[@zachcarroll4779]

Any updates on this for anyone? Curious about learning more. I currently have a whole life policy.

[@VIPFinancialEd]

Zach Carroll, matter of fact we have put out a brand new video about this topic I encourange you to check out: kzbin.info/www/bejne/bXXVhYempddof68 Hope this helps and thanks for watching!

[@rainbowbgood]

My question is do insurance companies invest the money in your account also? And is it in the typical stuff like oil, gas, mining? #ethicalbanking

[@VIPFinancialEd]

Bandana Sharma, they have what's called an Investment Account or a Master Account that all policyholders contributions/premiums go into and that's where the investing takes place. Insurance companies are ultra conservative where oil, gas, mining are ultra specualtive investments therefore they typically don't invest in these. Hope that helps and thanks for watching!

[@em55527]

I was told by an insurance company that any loans would be taken out against the whole life policy., and compounding would occur on the balance.

[@Army_Of_Juan]

Estelle MCKNIGHT all the insurances are not the same

[@edcorp1000]

rocking it . thumbs up

[@VIPFinancialEd]

Thank you, Edimilson Ed!

[@maejones2012]

This is an eye opener

[@VIPFinancialEd]

We found it to be that way as well, Mae Jones.

[@aliasgirl9]

I'd like to know how this benefits the life insurance company (as full disclosure). There has to definitely got be benefits for both parties. Also, what, if any, cons are there to this "financial weapon"?

[@crazycdn8327]

They earn huge money off of this. There are plenty of mutual funds that pay 10% with low management fees. Where as when a person tried to sell me whole life they were charging about 4.5-5% interest and I would only be making like 3-5% (after fees). Thanks, I'm good. I can get a HELOC and pay a LOT less interest and have instant access to my money also.

[@herbankidd]

1. They have millions of dollars to invest from policy holders paying their premiums and are unlikely to use their death benefit before the policy is bought 2. They make a some kind of a margin on people who quit paying their policy within the first few years or so...(I’m not 100% sure on how/why) 3. There is a minimal processing fee factored into the premium. When you have thousands of people paying premiums every month/ year it’s a lot of money

[@herbankidd]

Crazy Cdn yeah but I believe the life insurance is tax exempt where your mutual fund isn’t.

[@Crazylalalalala]

What happens if you, for what ever reason, fail to pay your premiums? Does the insurance company take back all you bought with their money?

[@VIPFinancialEd]

Crazylalalalala, oh no they just use the cash value that's been built up to pay the premuims. Hope that helps and thanks for watching!

[@chantelmorset7176]

You could possibly loose your policy benefits.

[@lamarrjones9409]

Great information, what the next step

[@VIPFinancialEd]

Thanks Lamarr! Reserve your free coaching session here: www.FreeCoachingCalendar.com

[@onenation828]

When it comes to Life Insurance why not go with Term and invest the difference? Term is usually alot cheaper than Whole on a monthly basis. All that money you save on a monthly basis can be invested for around 35 years which is what a Term policy usually goes for. By that time you are self sufficient and have already eliminated the need for life insurance anyways. I still don't get why I would need to borrow money from the cash value on a Whole Life if it's my money.

[@michaelfisher438]

whole life

[@sweeterscience83]

Machine Gun IUL mirrors a stock index so you are building wealth like a retirement vehicle. At the same time, you are completely liquid with your cash value and can borrow against yourself with pretty much zero fees or rates against what you borrow. This basically means that the IUL policy becomes a bank that earns interest at much higher rates.

[@thoitruong7995]

sweeter_science you say iul but the banking principle is with whole life. Am I missing something? Are you doing the banking concept with iul instead of whole life and why? Thanks for your reply.

[@wdbuchner]

Additionally, loans and loan interest is NOT taxed. Thus you’re not getting taxed on the interest you earned that was deferred. Your w/d’s on IRA’s etc are. I know some are not like a Roth. But in general that’s the idea.

[@beardpersonvlog3366]

And lets say you don't earn enough 35 years later to self insure? Let's say you have a major health issue that renders you uninsurable? What will you do once that term terminates? What happens when your investments lose the value they've been accumulating, like they did in 2008? Whole life policies don't do that. Yes, you pay more for it, but it has its upsides.

[@crackseller321]

This information is so dope

[@VIPFinancialEd]

L Sutton, thanks for the feedback and watching!

[@crackseller321]

@@VIPFinancialEd you are more than welcome sir.

[@marksgameoflife8446]

How do you think the corna virus and the lockdowns are going to effect the insurance industry in the future? Is it going to be better, worse or the same? What are your thoughts/predictions on this? And which type of insurance should i study...right now im studying life and health, should i add anything?

[@VIPFinancialEd]

marc higgins, I think this will make the insurance companies stronger based on their conservative approach to how they run thier businesses. Not saying none of them will have any problems that arise but financially most of them are the strongest since the insurance industry is heavily regulated with required amounts of capital/cash to be on hand for instances like this. As far as insurance to be studying, I would add property/casulty too. Hope that helps and thanks fro watching!

[@marksgameoflife8446]

Thanks for your reply..Its a very good answer and it helps alot! Surprising i posted this exact same question on 20 other insurance channels and your the only one that replied back..i was getting scared for awhile because nobody responded.. So thanks again for responding! I subscibed and liked this channel for being informative and responsive! Thanks

[@eyeswideopenz]

Question, I borrow against my whole life policy, do I not pay any interest on the money I borrow?

[@VIPFinancialEd]

eyeswideopenz, you do pay the interest on the borrowed money but these funds are not taken out of your account therefore you are still earning interest on the money you are using. So it can be a wash depending on what the 2 interest rates are. Hope that makes sense and thanks for watching!

[@lordvi-leagueoflegendsmont9779]

might subscribe & thumbs up

[@chrisdrums99]

What software/app is that you are using to calculate max potential?

[@VIPFinancialEd]

chrisdrums99, not sure what the name of it was since it was the guest's internal software program. Thanks for wathcing though!

[@clydeb7713]

Dave Ramsey would give you an ear-full!

[@VIPFinancialEd]

Clyde Barrow, I wonder if he ever gets sick of doing that. Thanks for watching and commenting.

[@Mr.Matt.Hutchinson]

@@VIPFinancialEd He never will as long as Zander Insurance is sponsoring him 😃

[@stephaniafombo2468]

I like How Robert Kiyosaki says that, the poor listen to Suze Orman, live within your means and middle class listen to Dave Ramsey, pay off all your debt and be debt free and of course the rich and wealthy listen to and follow the rich mentor/coach on how to use other people’s money and build wealth, by getting into good debt.

[@rainbowbgood]

What are the range of premiums on these? Do you have to pay a monthly premium forever?

[@VIPFinancialEd]

Bandana Sharma, your premiums are determined by many factors: your financial goals, your budget, your health rating, etc. You can structure a policy to pay the monthly premium for your entire life or until you reach a certain age. It really all depends. Hope that helps and thanks for watching!

[@justinarnellwest]

Whole life premiums, like 600-800 per month.

[@MrPalfonso]

How do I get that calculator that I can populate for illustrations?

[@VIPFinancialEd]

Phillip Alfonso, you have to be a licensed life insurance agent to gain access to these illustration tools by the company you represent. Thanks for watching!

[@SopranoJessi]

Do your premiums go up if you borrow? As a form of penalty?

[@marysamotos7133]

CT b I will be in touch a good

[@isaiahpayne825]

Compare Whole Life insurance to Indexed Universal Life Insurance

[@DerivCapital]

Par.WHOLE not just any whole life product works ...fyi but anyway is just a more conservative holding vehicle than a IUL in THEORY a IUL will lagg a Par WL policy yr 1-10 or even til 15yrs out but then should "IN THEORY outperform a Par WL policy but if I have a lot of money to put in per year say 20k -100k get BOTH but use 2/3rd's for whole and 1/3 for IUL . ..if you only had say 6k to put in per year if your under 35 do IUL over 35 Par Whole life ...this is without know you or your personal situation

[@shawnclark732]

There’s so much more to consider though. What kind of fees are you paying for the service from the insurance company? They don’t work for free. And what happens when you don’t need life insurance anymore? Discipline issues aside, isn’t it really just about cost of capital vs return on capital? If I can borrow at 4% from others and make 7% with my money, why wouldn’t I do that instead? You access capital at the lowest cost and deploy at the greatest return. Then keep your cost of living within reason. Done.

[@VIPFinancialEd]

Shawn Clark, Realtor, you are paying for the cost of life insurance that will transfer the financial risk from you to the life insurance carrier upon death and as far as I know banks charge fees as well. This strategy is not for everyone especially for those who can borrow at 4% from others and make 7% with their money. I don't see why you wouldn't do that if you can! Everyone's financial situation is different and without a full analysis of someone's credit score, cash flow, and resources the numbers might not work or they do work. It depends as this is simply an introduction video to the concept that many others are using with success but sounds like in your case this is probably not the best strategy for you.

[@trevorkielley8821]

do these principles work in the Canadian environment?

[@romerome6968]

Yes it does. Sunlife or equitable. Equitable is q mutal company not sure if it benefits anything vs none mutual

[@kaptain7024]

Why are you working with two different sound mics? Yours is extremely loud, and the guest's is extremely low. That is very annoying. Do mic checks before you start your shows.

[@ryblinkaway]

Their mics by now should already been fixed, the author of this video next time when you upload videos don't forget to mic check!! 1st.

[@alexandrroshka6724]

wow & adding to favs

[@VIPFinancialEd]

Appreciate the kind words Alexandr!

[@tanyafontanez9520]

how much exactly, is this policy going for?

[@VIPFinancialEd]

It really depends. If you are interested in getting connected to the life insurance instead of banks experts email us and we'll make a warm intro. [e-mail]. Put the subject of the e-mail as "Whole Life"

[@VIPFinancialEd]

Tanya - Please use [e-mail] as the email address. Autocorrect typo on previous reply resulted in the incorrect email address. Hope to talk with you soon!

[@a1cxd166]

Interested

[@jrnaki903]

I was trying to lip read the other guy, good content anyway cheers

[@VIPFinancialEd]

Jead Rangihaeata, thanks for watching!

[@vincentskold218]

How to get this insurance if you are not a US citizen? I tried to find it in Sweden but it seems not exist here.

[@VIPFinancialEd]

Vincent Sköld, unfortunately I only know of it in the United States and have coaching members who have found agents in Canada who offer it. It might not be the same name in Sweeden but hopefully you can find it, if so please share so everyone can benefit. Thanks for watching!

[@larryroberts8164]

How long do you have to wait to borrow against the policy once you set up a whole life policy?

[@VIPFinancialEd]

Larry, I'd be happy to introduce you to Nick or Becky, they are experts on these Debt Weapons. What is the best email address for me to send them?

[@DerivCapital]

the day the cash value shows up in yr policy is the day you will hv that cash avail for you to take out loans ...tech 85-95% is avail so if u hv 10k in cash value 9000 or so is avail for loans there is a tech reason why that is but its out of the scope of this conversation but once you "take delievery" of your policy there is no wait...some products like a 5-pay NY Life policy has a 1 yr wait for loans IUL's are not advantantaous til yr 5 to take out loans but loans are avail "in" yr 1 but Most all Par Whole life policies are avail immed. Penn M. Mass M. NYLife , Gardian etc all hv policies that have loan provisions that allow a loan to be taken out immediately basically "day 1" NOT after a year ..a cheat code for WL policies is to get the policy "backdated" 6mos. so you can put 2 YEARS worth of payments in in 1 year!! OR 3 years worth of payments in , in 1.5 years!!! VERY powerful for compounding/ and dumping a lot of money in very quick to be used if you wish and STILL not hit MEC levels ...talk to yr ins. person if he don't know about the backdating "hack" fire him and find someone who does. fyi I have 2 WL and 1 IUL policies that I use as my own banks and I am also lic. to sell this stuff so I KNOW what Im talking about...and NO i hv ZERO interest in selling you a policy I am a real estate investor

[@jugerknott09]

PutCall Ratio Thanks you. Makes sense. Newbie here.

[@bobthehtc5828]

PutCall Ratio by your name I thought you’d be an Options trader :). What is IUL, MEC? Why would you have 2 WL? Also what are some disadvantages?

[@bobthehtc5828]

Big Red are you saying the policy only pay proportion to the amount you put in so far? I’m still trying to find a video that explains the potential cons of WL. Only thing I hear is what you said about borrowing from self and pay interest, albeit the interest should be lessen since the growth/compound isn’t interrupted.

[@Andy-wo9bm]

Pause @ 33:46, flash photo of Dave Ramsey... deer in headlights.

[@VIPFinancialEd]

haha!

[@cedricfossito972]

When can you get your whole money that have been companded back? Only when you die? Please I need some explanation.

[@VIPFinancialEd]

Cedric Fossito, we have an updated video here. kzbin.info/www/bejne/nKCWhpWHrLZ2g8U&lc=UgxHFZBx6FO0lBH9q7R4AaABAg

[@willd9807]

australia does not have this policy anymore

[@VIPFinancialEd]

Will D, thanks for sharing and watching the video!

[@VapeLordnative]

love your videos and i'll be back

[@VIPFinancialEd]

Thank you Vape Lord! Are you a part of the Vape Nation by any chance?

[@fabiolaquiroz4877]

I am intrested how do i start?

[@VIPFinancialEd]

Hello Fabiola, have you already scheduled your free coaching session, or Quickstart call to enroll?

[@rgm83]

Why borrow @ 6% if earning 4%? You would be stealing 2% from yourself.

[@ronaldsneller1989]

Accessing money for 2% is damn near free. And they key is that the money / cash flow doesn't disappear... it flows back into your policy, keeping it on your balance sheet. So for example, if you buy a car for $30k, you take a line of credit against your policy to pay for the car, and pay the 30k back to yourself instead of having the 30k go to the dealership. And instead of the interest going to a banking institution, it's paid back into your policy

[@Samuel-qm9bq]

Hi Mathew, is it worth having a retirement plan that invests in annuities with life insurance​ and then also purchasing a policy from one of them?

[@VIPFinancialEd]

Hello Samuel, I am not sure. I would be happy to connect you with Becky and Jim, they would certainly know. Please email me your contact info and I'll put you in touch. Good question! [e-mail]

[@Samuel-qm9bq]

Thank you. I have learned so much with your videos I image how much more I can learn with your program.

[@VIPFinancialEd]

Happy to help Samuel, I just responded to your email so you will hear from Becky and Jim soon. Make sure you schedule your one on one coaching session with VIP, as well so we can fast track all your goals simultaneously. www.FreeCoachingCalendar.com

[@AlabamaCreek33]

The important thing you like to look at is how much you'll keep. As far as retirement vehicles the two best are cash accumulation in a life insurance policy and index annuities. That where you'll have the tax advantages, don't have to worry about market downturns, and you'll be outpacing inflation.

[@fedtafame616]

Very Informative sign me up whole life

[@VIPFinancialEd]

Thanks for watching and commenting, Fed Ta Fame.

[@superdrewper7883]

Hi Fed Ta Fame, have you implemented a whole life policy into your financial portfolio yet?

[@thebestclassicalmusic]

My challenge is this. Even if you do this you cannot treat it like a checking account (as you would a LOC or HELOC) bills don't auto pay, you can't just access the money like you would normally online, basically, it could be great if it could do the roll of a HELOC or LOC replacement. If I could just fully dump my income in each month which overpaid the premium and borrow against it when needed, I would be all in.

[@VIPFinancialEd]

The Best Classical Music, that's a fair point. This is separate and totally different than a LOC. But, a LOC is debt and this is not necessarily debt since it's your money. The issue is, you've gotta fund the account and that takes time. Thanks for commenting.

[@thebestclassicalmusic]

@@VIPFinancialEd I did not expect a comment back--thank you for doing so. The best way to look at this product is as secured debt--much like a HELOC. That said I have still been looking into this product as it seems the real advantage is using a company to fund it. Thank you again--I have learned a lot from your videos. Now only if these would work like a checking account--could you imagine! :D

[@ronloftis9080]

@@VIPFinancialEd ah but the loan is something you must pay interest on whether loan is from your LOC or your UWL policy. It's not totally truly your full asset if you have to pay interest on your own money.

[@jjcade887]

Interesting.

[@VIPFinancialEd]

Thanks!

[@herbankidd]

Are the gains tax exempt?

[@VIPFinancialEd]

herbankidd, it depends on the policy and how you take the money out that will determine the tax exempt status. We recommend speaking to your tax professional first. Thanks for watching.

[@samuelacosta782]

So what happens to the cash value when you pass away? It goes to the insurance company. Why is whole life 2 times higher than term. BUY TERM AND INVEST THE REST! Invest under your name. No one puts cash value to any other insurances that we use i.e. Car/home/renters etc why insurance???

[@VIPFinancialEd]

I'm happy to put you in touch with an expert who can answer this question for you accurately. Please email your preferred contact information to [e-mail]. Cheers!

[@nomosfoster2457]

Samuel Acosta yes why "whole life insurance"? they all invest the money we send them.

[@AlabamaCreek33]

The reason why term is cheaper is because it has no additional riders or cash acculatting Account. But with Index Universal Life, you'll have a whole life policy, with a cash acculatting Account, and you can add additional riders as well as long term care. IUL is known as the rich man's Roth. Does this answer your question?

[@normajean9831]

Eugene Prentice so if i buy a 10yr term on a parent n they live past that....i pretty much lose that money, correct?

[@michaell8957]

Eugene Prentice it's so many life insurance types oh boy! I want to learn more , but..?

[@junglesbongles8592]

jim bean name on fleek bro

[@keya31gville]

Parents were trolls lol 😍😍

[@hellgateiscloseddontgother8736]

How about we're closed all our banks account.

[@VIPFinancialEd]

Why did you do that? I would not recommend closing bank accounts.

[@youngwynn333]

Can someone help me set up the life insurance 😭

[@VIPFinancialEd]

winston wynn, yes... if you can send an email to: [e-mail] with your name & phone number in your email and 'IBC' in the email description. We can get in you in contact with our in house specialist MC Laubscher. Thanks for inquiring!

[@Brian-vz7xe]

They mixed the Mic's really bad, it was painful for me to follow along to this vid.

[@VIPFinancialEd]

Brian, thanks for watching and the feedback as we have worked out the kinks on newer videos.

[@derrickrhame4077]

I would take a portion of that money and give to a Charity

[@VIPFinancialEd]

Derrick Rhame, Awesome... what's your favorite charity?

[@derrickrhame4077]

@@VIPFinancialEd Wounded Warriors

[@MegaJamils]

Doesn't it take years to accumulate the cash value?

[@VIPFinancialEd]

Sabrina Batts, it really depends on how much you are contributing to it. Thanks for watching!

[@Army_Of_Juan]

Your agent and build your policy to have cash starting the first year

[@derrickrhame4077]

Why not transfer the whole $10 million to a CRAT and just live off the interest alone

[@VIPFinancialEd]

Derrick Rhame, that's one strategy you can certainly deploy depending on your own financial goals. Thanks for sharing and watching the video!

[@testeteste-jc5hv]

like it thanks for this

[@VIPFinancialEd]

Thanks!

[@michaelperez3309]

I would have loved to watch this video but the volume difference between the two of you is unbearable

[@VIPFinancialEd]

Michael Perez, thank you for the feedback.

[@leeforex8441]

Oh geeze, too bad you couldn't have just pushed through that unbearable pain till you got to the 2:54 mark, it would have been sooo rewarding for you. *PalmFace* #SelfSabotagingExcuses

[@CalebPendergast]

Very interesting concept but it just seems too good to be true. There must be some kind of drawback, right?

[@johnmcrowell5906]

You have to be able to qualify medically, thats the catch or drawback

[@ToniTruth88]

No drawbacks but to pay more than your premium every month oh and making that a priority when discussing with your agent and hope he or she knows their stuff! Health wise you do have to qualify with no health problems but it depends on how much DEATH benefit you plan for. I think anything over 250k you need a medical check! I would suggest also to dump as much savings you can in for the first two years just to fast track your compounding!

[@Pcordero87]

There is no drawback per-se, you just need to put a lot of money and time in the policy to make it worth your while and that represents an oportunity cost for more profitable investments, specially considering you can do the same with other products like ETF funds mixed with life insurance (same benefits as whole life, with better growth). Another drawback is that you need to be very disciplined or your banker life will come to a rather quick crash. Im not against whole life insurance, its a product poorly understood and much maligned by financial "gurus"

[@dantecunningham4717]

Whole life

[@VIPFinancialEd]

Dante Cunningham, you got it and thanks for watching!

[@lee-eb2cn]

Would like info

[@VIPFinancialEd]

Lee, we have newer videos on this topic. Please see this video: kzbin.info/www/bejne/bn7ZkJ5nZrqtrpY

[@drewp9355]

You guys are clearly selling life insurance.

[@tonycanaris6521]

With a economic crash nothing is paid out. Like insurance accrued interest programs.

[@herbertlumsden3730]

[1] PLEASE do an AUDIO CHECK BEFORE recording. The guest was either mic'ed poorly or mic placement was not good. Plus the guy was talking softly. Check audio levels and boost before uploading. If it is that you are mic-ing on two separate channels :) [2] Was the guy just a prop or perhaps you may want to "interview" more and self promote just a little bit less ;)

[@VIPFinancialEd]

Herbert Lumsden, thanks for the feedback as we have finally dialed in the audio on our more recent videos and we appreciate you watching!

[@chelseafan4life09]

I always knew whole life was a winner I just didn’t know how to articulate it as simply!!

[@carolynqamoos8172]

We

[@johnbmaihi1]

Not available in New Zealand

[@VIPFinancialEd]

Wez Maihi, thanks for sharing and watching the video!

[@jonathanschwartz5265]

With all the cash you're making, how about buying a microphone. but great video.

[@VIPFinancialEd]

Jonathan Schwartz, yeah this was one of the earlier videos but now have upgraded the audio. Thanks for watching!

[@debtfreegeneration4558]

Yea but I would rather get dividends

[@VIPFinancialEd]

Debt Free Generation, this strategy is not for everyone. You should do whatever fits your desire and situation. Thanks for commenting.

[@debtfreegeneration4558]

True

[@namhamada3984]

Whole life fees so much!!

[@VIPFinancialEd]

Nam Hamada, we have a lot of new videos on this Debt Weapon. Hopefully you find them interesting.

[@ugurceldir6766]

Yeah we bite 100mill building you make and change your job

[@dweidemann]

I appreciate the content. Some constructive feedback: Have your mics on and tested (yours wasn’t on your person at first & Jim’s was too low on his suit to get decent volume). Don’t go almost 6 minutes before your guest actually gets to contribute. Distill your content to provide the same value without being 35 minutes long, not just through cutting but better planning. Jim might consider keeping his mouth or teeth closed when he isn’t speaking so we don’t get distracted wondering if he’s about to say something because we see his teeth separating. Only trying to help because I love value creators to succeed! Keep going guys! Liked and subscribed to watch your evolution.

[@VIPFinancialEd]

David Weidemann, thanks for the feedback as I hope we have come a lonng way with our videos since that one and appreciate you watching!

[@dweidemann]

VIP Financial Education Wow! Didn’t even realize it was old because it came up in my feed. Guess that’s a good thing, though, congrats. I’ll check out some newer content.

[@upperechelon303]

Whole life!

[@tonycanaris6521]

Good Whisky Jim Beam

[@FaridaSultanaIchoosesuccess]

Jim Bean'a mike needs to be adjusted