We At Infinite Wealth Engine Are Passionate About Policy Design.
Policy design is so important to us! A traditional Life Insurance Policy is structured in this manner: A policy holder pays their base premium, which buys a death benefit. End of story. What is sorely neglected is the Cash Value component within every Whole Life Insurance Product. Call it your policy piggy bank.
Money that ends up in this component earns a Guaranteed rate, Dividends, and can be accessed at any time. The important thing to keep in mind however, is to avoid the expensive cost of insurance in the early years as much as possible (particularly in years one and 2). The reason is because, when opening up any new policy, the insurance company will OVERCHARGE us for the cost of insurance, basically capturing our base premium dollars to insure that they are compensated up front. This is where POLICY DESIGN is pivotal. By minimizing our commitments aka insurance expense, we have the ABILITY and window room to add monetary contributions into our policy for maximum cash value. This allows more money upfront AND long term to practice INFINITE BANKING!
Some things for us to keep in mind, however:
- MEC or IRS Limitations
- Policy Limitations
- The strategic use of a Term Rider
- Guaranteed and Non-Guaranteed Values
- Policy Internal Rate of Returns
- Break Even Point
- How and when to hit the “kill switch” on a policy if we desire, while Cash Value still grows
- Agent role and being properly educated on the Infinite Banking Concept
- MEC Rollover Space
- 1035 Exchanges
- And so on!
You are not alone in your endeavor on discovering these awesome principles. While we provide a quick, easy to understand curriculum through our YouTube Channel -Infinite Wealth Engine, we also work with IBC experts who are Life Insurance licensed and can provide the personal assistance whether you are a beginning learner who would just like to know more, or are ready to build your own INFINITE WEALTH ENGINE today!
