Why We Borrow Against Life Insurance To Invest? | Wealth Nation

[@WealthNation]

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[@TyviOctober]

I love the vid. But damn y’all glowing in that brown/golden skin

[@wendellkirton3694]

You all are opening my eyes

[@greenhappy26]

I totally agreed, however you need to wait for years to accrue the cash value. I have life insurance with New York Life.

[@josephsaeteurn9158]

do a initial cash dump in.. $10K is typical to start.. in less than a month you can take out loan for up to 80 - 90%

[@AdamDoran]

So cool how a connection in your world opened your eyes to a totally new way of doing things!

[@poloblack1273]

The way Clarity explained to me I need a huge loan.

[@jaymorrison5895]

What an articulate couple. Thanks for sharing with such detail. Really helped me understand. Thanks for sharing!

[@DavidGonzalez-ns3vp]

Thanks for sharing. I have some question Can anyone help me? 1. Can you borrow more that what you have in cash value? 2. How do you manage to grow your cash value since only a bit of the premium goes toward it? Thank you🙏🏽

[@SteddieBop]

1. No 2. Cash value is a function of your death benefit. Both the base premium and additional riders and terms give you more death benefit and make its net present value increase faster, but really all of your premium goes towards paying for your death benefit. It’s just about how fast and that’s one thing they never talk about.

[@DavidGonzalez-ns3vp]

@@SteddieBop Thanks man. It really helps me. God bless

[@tonyusmc1]

Maybe you can speak to the fact that you can only borrow from the premium that was already paid and how some insurance companies don't allow you to borrow the first year.

[@kissingerrai4844]

That all depends on how you structure the policy.

[@notjohnAtall]

Why would anyone want to borrow within first year. Life insurance is not for short term

[@tonyusmc1]

@@notjohnAtall Need or even investments with no taxes accessed. Pay the premium and use the money without taxes. Smart move.

[@SteddieBop]

Can you talk about how your policy is structured.. how long you’ve been paying premiums in order to get you DB high enough so that your cash value is large enough to do real estate deals? What your premiums are? I mean.. these are the things that actually matter, it’s easy to sway people when they just think they will have 100k tomorrow, when really most of us will only be doing like 10k per year and will have to wait many many years to ever do anything like what you’re talking about..

[@WealthNation]

Our personal policy premiums were $10k annually for 4 years and then reduced to $4k thereafter. We've used our policy in the first year to get out of debt and then we got more heavily involved in real estate with our loans. Here is a video we did 5 years ago when we started our first policy kzbin.info/www/bejne/ZomUdnehg7x_psksi=aOQqyK5Wh3ZbDJ9g. You can see how much money we had available.

[@SteddieBop]

@@WealthNation Thanks for the response.

[@onboardnation9608]

Great Info

[@derrickwooten5329]

Subscribed

[@TheLastSatoshi]

Could I take 50K from a business credit card to fund my whole life policy? And then borrow against the policy to pay the credit card off?

[@arryaaa_]

I would like to know this as well.

[@itskat55]

Yep

[@U2willB]

So it's better to take a loan rather than a withdrawal from your policy?

[@zc2102]

Yes

[@zc2102]

When you withdraw it is coming out of your death benefit and reducing the policy and messing up the cash value accumulation since that money is no longer there. Interest works better when it’s not touched. When you borrow its a collateral and is borrowed form the CASH VAULE and not the death benefit therefore allowing you to not touch the the DB or mess up the cash value

[@jesussaves5029]

@wealthnation, I had an appointment with you today, but the time zone confused me a bit lol. I am on CST what are our time differences? So that I can book another appointment with you.

[@courtneytatum8043]

How long do have to have the policy

[@josephsaeteurn9158]

its life insurance.. until you die..

[@stephaniejohnson1972]

Thank you. How can I get in touch with an agent who can help me understand this process and help me get the best deal on insurance that will give me the best return.

[@mandeango1]

You have to pay taxes on the money you borrow from your policy? That is news to me.

[@antoinelabrada500]

Pay taxes on money taken out via withdrawal. Not on money from loan.

[@favouremewu8908]

Hello Carmen. I have been watching your videos for a while, I will like have someone talk to me because am ready to take action regarding Insurance Policy. Thank you.

[@meanttobe5161]

Thank you for women lol …. I’d be lost still if he was just casually explaining. Still great video!