How to Be Your Own Banker

Life insurance isn’t just for when you pass away—it can also be a powerful financial tool while you’re still alive. Concepts like Becoming Your Own Banker, Infinite Banking, and Bank on Yourself all utilize the living benefits of life insurance to offer unique advantages not found with other financial products.

The challenge? Many people unknowingly end up with bad life insurance instead of the good life insurance that helps them unlock these benefits.

In this episode, we discuss:

The difference between good and bad life insurance.
How to choose a cash value life insurance policy that supports your financial goals.
How to use life insurance to become your own banker and take control of your financial future.

Key Takeaways

Life insurance can be a financial tool, not just a death benefit.
Good life insurance provides cash value, which offers financial flexibility.
How to avoid bad life insurance policies and choose the right one.

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Resources:
Life insurance policy sales and review McFieInsurance.com
Contact: [email protected] | 702-660-7000

0:00 How to Be Your Own Banker
3:15 History of life insurance
5:38 Types of life insurance
7:09 The two types of life insurance
8:56 The origin of Buy Term, Invest the Difference
11:26 Term life insurance, universal life insurance, indexed universal life insurance (IUL) and whole life insurance
15:00 Reviewing an IUL policy
18:23 How to set up your finances
20:57 How to tell if a life insurance policy is good or bad
22:39 10/90 Infinite banking policy (IBC)
25:11 Guaranteed vs non-guaranteed values
30:13 The difference between cash value and death benefit

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Listen on:
Apple Podcasts: https://podcasts.apple.com/gb/podcast/wealth-talks/id978187163
Spotify: https://open.spotify.com/show/7MOugefeGkTl5jdkhYdjvQ?si=80ce9359d8e54cc8

Watch On:
YouTube: https://youtu.be/-sUT5xUCkbs