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Infinite Banking (also called “The Infinite Banking Concept”) is a financial strategy where you:
Download the free Infinite Banking PDF to learn more.
Learn How to use Infinite Banking by downloading this free PDF: Infinite Banking Made Simple
McFie Insurance will help you get started with Infinite Banking: Schedule an Appointment
Dividend-paying whole life insurance is the best type of insurance to use for Infinite Banking.
Money is typically accessed via a policy loan.
The money comes from the insurance company who holds a portion of your life insurance as collateral.
Technically life insurance policy loans are “interest only”. Good practitioners of the infinite banking concept pay their loans back as this is key to the strategy.
Cash value naturally starts low in whole life insurance, however a Paid-up Additions rider may be added to the policy to make cash value grow quickly.
Infinite Banking is NOT an investment. Infinite Banking IS a wise liquidity and cash-flow management strategy which allows you to recover the cost of finance and invest.
To get started with Infinite Banking, schedule an appointment with McFie Insurance.
Infinite Banking is a banking system you can use for many different investments/opportunities. Download the free Infinite Banking PDF for examples.
There is no set amount of money you need to start Infinite Banking. Everyone starts with different amounts. Get started with Infinite Banking with what you have and it will improve your financial situation.
Infinite Banking is not limited by age. If you are no longer insurable, you don’t have to have the life insurance policy on yourself.
The life insurance policy can be on your spouse, kids or even grandkids.
Infinite Banking in practice is not a sales scam. Life Insurance Policy premiums should always be affordable and comfortable.
Some Life Insurance agents pressure their clients into buying too big of policies or the wrong type of policies – this is what is a scam.
At McFie Insurance we help clients purchase dividend-paying whole life insurance structured correctly for their financial situation. Schedule an Appointment
Example from Page 8 of the Infinite Banking PDF. Download the Infinite Banking PDF to learn how to pay off debt and recover the cost of financing.
Life insurance premiums are paid with after-tax dollars which allows guaranteed growth in life insurance when accessed via policy loan to be tax-free*.
*Some MEC life insurance policies may be taxable.
Whole life insurance provides a guaranteed death benefit as long as the premiums are paid and the policy remains in force. Most policies include a two-year contestability period during which the insurer may investigate and deny a claim for material misrepresentations on the application. Some life insurance policies also contain a two-year suicide exclusion, under which the insurance company typically refunds the premiums instead of paying the death benefit.
Whole life insurance builds cash value you can borrow against for any reason. Loan funds can be directly deposited in your bank account usually within 10 business days*. Policy loans typically charge about 5%–8% interest, depending on the policy and insurer.
*Processing times can be shorter or longer depending on insurance company.
Participating whole life policies usually earn annual dividends* which can increase cash value and the death benefit, or be paid directly to the policy owner. Dividends usually increase in amount as a policy grows older.
*Dividends are not guaranteed.
Whole life insurance cash value and death benefits are usually protected from creditors and lawsuits.*
*Creditor-protection laws vary by state and individual circumstances.
To practice Infinite Banking, you must be able to save part of the money you make.
To be a good practitioner of Infinite Banking you should also repay all loans from yourself and/or the insurance company.
The insured of a life insurance policy must be in relatively good health to make the policy worth while. If you are older or not in good health, you may still be able to insure a spouse, your kids and/or grandkids and still be able to practice Infinite Banking.
Cash value growth in Whole Life Insurance can appear slow for the first few years.
To speed this growth process up riders, such as a PUA Rider may be attached to the policy.
Getting Started with Infinite Banking is simple:
Schedule an appointment with McFie Insurance, or
Call/Text McFie Insurance: 317-912-1000