Would it not be better to buy a cheaper term life insurance policy (roughly 1/20th of the cost). Put the 100k in the market to grow at a higher rate than what it would grow in the life insurance policy. Then just get a loan from a bank if you wanted to buy a car for example. Interest rates would be roughly the same between the bank and the insurance policy and you would be getting all the same benefits. Now that I’m thinking about it I guess the only difference is your money is growing tax free in the insurance policy while it wouldn’t be in the market? Last thing is I have watched a ton of videos about this and literally everyone always says other people don’t set the policy up right which makes me believe a ton of people are out there taking advantage people. And no one EVER talks about the fees and where all your money is going in the first couple of years. Since you sell this stuff I challenge you to do a video explaining where every penny goes for the first couple years of a policy including your commissions.
@@rentingfreedom I did a video similarly answering what you are asking for. Let me know your thoughts and if you have any questions. czcams.com/video/y3HjyxGGgrI/video.htmlsi=dJdpdbtvUywRzX8m
I am just learning of Infinite Banking. A list like this really helps. You mention some of the companies being "pro infinite banking". What do companies do if they are NOT pro infinite banking, give you a hard time, not set up the policy? In general is Infinite banking frowned upon?
Great question. Take a peek at this; this is an example. We share a little about what they do, czcams.com/video/s2TWYv41_n8/video.htmlsi=FFTapfoKxzCFFpSr
This video and comment thread come to me in my first few hours of searching about the concept. It came at the perfect time as i have gone over the pros and cons of going term and investing or going whole with cash value. I appreciate all of this guidance toward the proper companies to work with. @TheAndAsset your detailed comments were everything. Thank you, Sir.
Of course and if you are a big investor the best part is you no longer have to choose, you get to have insurance for your family/legacy and you can use the money you put into WL for an investment as well. It is officially an "And" Asset no longer or! Thanks again for watching let us know if we can help in any way!
@@AndAsset Can't wait! One thing I hope you'll include is the WFG (TransAmerica) no lapse premium guarantee. I don't know how it is different from a s _ _ m?
Před 9 měsíci+1
@@AndAsset I wanna know what you think about AIL i.e. AO subsidiary of Globe Life, similar to Primerica. I was recently “fired” before I could quit just after setting up 12 meetings…. while being sickened by the cold calling, bait-n-switch technique, heavy recruiting and aggressive micromanaging
What's up The And Asset, I'm an Avid Infinte Banking student and just recently found your channel. I'd be interested in a video where you go over some of your favorite books on the concept or industry. (I'm aware of the And Asset Book, but interested in other reads)
I love it! I'm glad you're here, and I appreciate the support! And you know what? That's a great idea! Let me put something together and put it out there! I appreciate the idea!
@@theforce5191 I can't give a blanket statement to that question. It would depend on what company they went with, how they designed it, and the reason why someone got it.
@@theforce5191 Yeah, they favor it because it is like their mother company, and they get paid the most from it. If I were to get an IUL, I wouldn't get one from there, are you looking to get an IUL?
This sounds great but my challenge has been once reaching out to schedule calls with agencies like yourself - the person that actually does the initial consultation is a part-time work and is usually quite junior to the subject matter and not as well versed in what you so knowledgably explain in the videos above. Is that the case with your team? TIA!
That is a great question! In full transparency the answer to that is it depends. We are here to help people and we love serving people. But we also have to run a business. Because of it we have a target audience of who we serve best. So depending on the questions you answer when scheduling a call you may talk to someone junior or you may talk to an expert right away. Either way if you do talk to someone junior, and you are the right fit for who we help then you will eventually talk to an expert!
Country Financial isn't a company I am very familiar with. I did a quick search and because they only have customers in 19 states and do home and auto insurance as well it doesn't sound like a great WL company for this concept. Now this is the case If they are the ones who are the actually insurance company and not a broker. If they are the actual insurance company they sound like a very small company and not a company i would recommend. If they are a broker then it is a different story and we would want to know which insurance companies they use for their products.
Great Video! Foresters financial also has a good high early cash value whole life product with a flexible PUA. I’m curious on what you would rate them?
If I'd like to not continue with my ONL convertible life, what should I do? Should I just not pay the annual premium when it comes due? Or is there paperwork I need to sign? I imagine my call to the agent who sold me that policy will involve some form of selling, so I'd like to avoid that if I can help it.
That video was meant to just give an idea of a bunch of different companies. This video here is more recent and is an actual top 10 ranking, and NY Life is in it. czcams.com/video/Pveoy8wHuXU/video.htmlsi=Y16MpeH8hwIYSjyp
If you were getting a front load policy for yourself, knowing what you know, and knowing what cash flow can do over the insured's lifetime, which company would you get one from?
@@oldporkchops Yes because of the High Early Cash Value and the ability to maintain a low base as well to have flexibility or maybe even guardian as well as they have some of the same front load capabilities.
I sent the video with my thoughts on these two in the other comment, but here it is in case you missed the other reply! czcams.com/video/BpTSfdDOcsk/video.htmlsi=t0n7SJBdUMUXGkir
Great question. I would put them in the same category of state farm. Although I am not even sure they are a mutual carrier that pays dividends. Really any major home and auto line company wouldn't be a top choice for a whole life policy for focusing on cash value growth.
When it came to Northwestern Mutual, you mentioned how much dividend they pay or the dividend scale rate matters that much. Could you please elaborate of this? Thanks, Dom.
The dividend rate doesn't necessarily give the Rate of return or the Internal rate of return of a policy so a company with a 5% dividend scale could out perform a company with a 6% technically. Its just a vanity metric that doesn't technically share much.
NY Life is a great company for IBC, Prudential is a great company but not for IBC and Never heard of New haven so I would likely lean towards not so much for that reason.
@jerrinfuller7015 okay, we don’t offer variable insurance at Better wealth so if you are saying we did, that is very strange. You can email me at dom@betterwealth.com and I’ll make sure you talk to the right person to get you set up with the policy you want!
@@davidseaver3796 I actually did a rating for them and then I was like I need space for another company and with only doing 10 I was like well I already have 3 of the 4 Big Mutuals I would like to have a wide variety. I think NY Life is a solid company, I would likely give somewhere close to a 7. Amazing company their business model isn't my favorite and being more of the captive model they don't necessarily teach IBC but they would be a solid company for it.
Security Mutual Life of New York is missing from this list of good ones, and to me, would be an 8. I heartily disagree with the rating on OneAmerica. Their flexibility and cash value growth alone puts them at the very top. All told, I would rate them at 8.5. Lastly, I would rate Mass Mutual at 5.5 because they're actively saying they DON'T want people to use their policy cash value for banking; just the wrong company to do business with when they say they don't want your business, I think.
Amazing! Great points! I only had space for 10 companies not every company could make the list, I wanted to do a variety of good and not so good. I think NY Life and Security Mutual are also great companies. I definitely see where you could give Mass a 5.5, makes sense to me based on your argument. And I think most true IBC agents would agree with you on giving OA a 8.5. As most use only OA. You look at the OA leaderboard and it is majority IBC enthusiasts, which I think is great. My personal opinion after writing with OA and other companies and comparing UW and what they offer product wise is they are a fantastic company they just don't do anything that is extraordinary above the others. I have done a comparison of CV growth side by side and they don't win any awards and are middle of the pack and flexibility may be good but other companies offer the same flexibility. Which is why I feel they are a great company just very consistent in the middle of the pack.
Great Video! Foresters Financial also has a good whole life product with a flexible PUA and High early cash value. I would like to get your input on them.
@@MikeRod15 I think Foresters is good and I agree with you and they would work well for this concept as well. I actually started to rate them but had to remove them as I ran out of spots!
Why didn't you discuss who offers a 10/90? Not all the companies you listed offers a 10/90 nor a 40/60 tier 1 base. This is VERY important to escalate CV through a PUA. Your info is incomplete, although Infinite Bullshit is still a scam. Why aren't you discussing MECs? You missed the most important variables.
The premise of the video wasn't to elaborate on super specific in detail about each company. It was to give a broad overview of my opinion. I see where you are coming from though on where you feel like I could have improved on. I appreciate the feedback.
Learn how we're different from other life insurance companies - bttr.ly/vault
Would it not be better to buy a cheaper term life insurance policy (roughly 1/20th of the cost). Put the 100k in the market to grow at a higher rate than what it would grow in the life insurance policy. Then just get a loan from a bank if you wanted to buy a car for example. Interest rates would be roughly the same between the bank and the insurance policy and you would be getting all the same benefits.
Now that I’m thinking about it I guess the only difference is your money is growing tax free in the insurance policy while it wouldn’t be in the market?
Last thing is I have watched a ton of videos about this and literally everyone always says other people don’t set the policy up right which makes me believe a ton of people are out there taking advantage people. And no one EVER talks about the fees and where all your money is going in the first couple of years. Since you sell this stuff I challenge you to do a video explaining where every penny goes for the first couple years of a policy including your commissions.
@@rentingfreedom I did a video similarly answering what you are asking for. Let me know your thoughts and if you have any questions. czcams.com/video/y3HjyxGGgrI/video.htmlsi=dJdpdbtvUywRzX8m
Dom always bring education and value!!
Thank you! That's the goal of every video!
I am just learning of Infinite Banking. A list like this really helps.
You mention some of the companies being "pro infinite banking". What do companies do if they are NOT pro infinite banking, give you a hard time, not set up the policy?
In general is Infinite banking frowned upon?
Great question. Take a peek at this; this is an example. We share a little about what they do,
czcams.com/video/s2TWYv41_n8/video.htmlsi=FFTapfoKxzCFFpSr
This video and comment thread come to me in my first few hours of searching about the concept. It came at the perfect time as i have gone over the pros and cons of going term and investing or going whole with cash value. I appreciate all of this guidance toward the proper companies to work with. @TheAndAsset your detailed comments were everything. Thank you, Sir.
Of course and if you are a big investor the best part is you no longer have to choose, you get to have insurance for your family/legacy and you can use the money you put into WL for an investment as well. It is officially an "And" Asset no longer or! Thanks again for watching let us know if we can help in any way!
This is my favorite editing thus far on any video!
Great video, the rating slide is misnumbered I believe. Had Penn at 7.
I just checked it and Penn does say 8 I’m pretty sure 😁
Love the video, Dom! Ratings were on point!
Thanks fam appreciate it!
I'm glad you also rated the not so good apples like WFG and Primerica. It helped bring clarity to recent sales pitches I've got from their agents.
Just wait for the very next video I do it is ALLL about them!
@@AndAsset Can't wait! One thing I hope you'll include is the WFG (TransAmerica) no lapse premium guarantee. I don't know how it is different from a s _ _ m?
@@AndAsset I wanna know what you think about AIL i.e. AO subsidiary of Globe Life, similar to Primerica. I was recently “fired” before I could quit just after setting up 12 meetings…. while being sickened by the cold calling, bait-n-switch technique, heavy recruiting and aggressive micromanaging
@ I My next video is sharing my entire thoughts and perspectives with companies like this! Make sure to subscribe to see when it is out!
Great video and information
Thank you sir! Also you a big fan of XRP?
Thanks for providing your input
Your support is always appreciated!
What's up The And Asset, I'm an Avid Infinte Banking student and just recently found your channel. I'd be interested in a video where you go over some of your favorite books on the concept or industry. (I'm aware of the And Asset Book, but interested in other reads)
I love it! I'm glad you're here, and I appreciate the support! And you know what? That's a great idea! Let me put something together and put it out there! I appreciate the idea!
Thanks. Very informative
Thanks for watching!
Did you agree with my ratings?
Are iuls from wfg good?
@@theforce5191 I can't give a blanket statement to that question.
It would depend on what company they went with, how they designed it, and the reason why someone got it.
@@AndAsset it would seem like wglfg tends to favor transamerica. Is that a good one? Or does it also depend on the other factors you mentioned?
@@theforce5191 Yeah, they favor it because it is like their mother company, and they get paid the most from it. If I were to get an IUL, I wouldn't get one from there, are you looking to get an IUL?
@@AndAsset no, I have a wl. I know people who sell these iuls though, lol.
Nothing about NYLIFE???
This wasn't that type of video; here is the video you are looking for; I just did it!
czcams.com/video/Pveoy8wHuXU/video.htmlsi=Xh0f-xdBorWR6jym
This sounds great but my challenge has been once reaching out to schedule calls with agencies like yourself - the person that actually does the initial consultation is a part-time work and is usually quite junior to the subject matter and not as well versed in what you so knowledgably explain in the videos above. Is that the case with your team? TIA!
That is a great question! In full transparency the answer to that is it depends. We are here to help people and we love serving people. But we also have to run a business. Because of it we have a target audience of who we serve best. So depending on the questions you answer when scheduling a call you may talk to someone junior or you may talk to an expert right away. Either way if you do talk to someone junior, and you are the right fit for who we help then you will eventually talk to an expert!
Where do whole life products from Country Financial rank? Can you review them?
Country Financial isn't a company I am very familiar with. I did a quick search and because they only have customers in 19 states and do home and auto insurance as well it doesn't sound like a great WL company for this concept. Now this is the case If they are the ones who are the actually insurance company and not a broker. If they are the actual insurance company they sound like a very small company and not a company i would recommend. If they are a broker then it is a different story and we would want to know which insurance companies they use for their products.
Great Video! Foresters financial also has a good high early cash value whole life product with a flexible PUA. I’m curious on what you would rate them?
I would rate them a 7!
What would you say their Pro’s and Cons are?
If I'd like to not continue with my ONL convertible life, what should I do? Should I just not pay the annual premium when it comes due? Or is there paperwork I need to sign? I imagine my call to the agent who sold me that policy will involve some form of selling, so I'd like to avoid that if I can help it.
If you just didn't pay it the policy would just lapse and that would be it.
Why wasn't New York Life on the list?
That video was meant to just give an idea of a bunch of different companies. This video here is more recent and is an actual top 10 ranking, and NY Life is in it.
czcams.com/video/Pveoy8wHuXU/video.htmlsi=Y16MpeH8hwIYSjyp
If you were getting a front load policy for yourself, knowing what you know, and knowing what cash flow can do over the insured's lifetime, which company would you get one from?
A front load policy I would likely do Lafayette Life.
@@AndAsset Is it because of its strong high early cash value? Or something else?
@@oldporkchops Yes because of the High Early Cash Value and the ability to maintain a low base as well to have flexibility or maybe even guardian as well as they have some of the same front load capabilities.
good info. 🎉❤
@@Btheprocess I see you are big into be your own bank so that means a lot!
Do you have any thoughts about Transamerica?
I sent the video with my thoughts on these two in the other comment, but here it is in case you missed the other reply!
czcams.com/video/BpTSfdDOcsk/video.htmlsi=t0n7SJBdUMUXGkir
How do Farmers policies stack up?
Great question. I would put them in the same category of state farm. Although I am not even sure they are a mutual carrier that pays dividends. Really any major home and auto line company wouldn't be a top choice for a whole life policy for focusing on cash value growth.
When it came to Northwestern Mutual, you mentioned how much dividend they pay or the dividend scale rate matters that much. Could you please elaborate of this? Thanks, Dom.
The dividend rate doesn't necessarily give the Rate of return or the Internal rate of return of a policy so a company with a 5% dividend scale could out perform a company with a 6% technically. Its just a vanity metric that doesn't technically share much.
@@AndAsset I see. This is something that could benefit from an in-depth video explanation if you can.
@@oldporkchops YOU GOT IT BOSS!!
@@AndAsset Thanks! I appreciate you considering my input.
@@oldporkchops Always! Replying to you email soon, talked to Caleb today. Looking forward to connecting.
New York life, Prudential and New Haven ?
NY Life is a great company for IBC, Prudential is a great company but not for IBC and Never heard of New haven so I would likely lean towards not so much for that reason.
What type of user interface does Lafayette have. Easy to use for loans?
They have a portal and it is easy to take a policy loan!
On a 10/90 policy can the $10000 base be paid annually with the $90,000 PUAs being paid in on a monthly basis?
Today i was on a scheduled call looking to get started with my overfunded life insurance but got recommended to a variable insurance?
Well if you would like help with an actual overfunded whole life insurance policy we would love to help!
I would my call earlier was with you guys with BetterWealth. But I would like a overfunded whole life policy.
@jerrinfuller7015 okay, we don’t offer variable insurance at Better wealth so if you are saying we did, that is very strange. You can email me at dom@betterwealth.com and I’ll make sure you talk to the right person to get you set up with the policy you want!
Alright sounds good let’s get that scheduled!
@@jerrinfuller7015 Perfect! Look forward to hearing from you and getting this scheduled!
What about New York Life?
You want to know what I would rate them?
Yes. They are the largest mutual company so I’m surprised you didn’t even mention them.
@@davidseaver3796 I actually did a rating for them and then I was like I need space for another company and with only doing 10 I was like well I already have 3 of the 4 Big Mutuals I would like to have a wide variety. I think NY Life is a solid company, I would likely give somewhere close to a 7. Amazing company their business model isn't my favorite and being more of the captive model they don't necessarily teach IBC but they would be a solid company for it.
How do you feel about New York Life?
Like do I think they are a good company?
@@AndAsset Yeah and would you use them for ibc?
@@DmoBrando I actually think they are a great company and I would use them for IBC.
Great video and very informative!
Thanks for watching and supporting we really appreciate it!!!
Security Mutual Life of New York is missing from this list of good ones, and to me, would be an 8. I heartily disagree with the rating on OneAmerica. Their flexibility and cash value growth alone puts them at the very top. All told, I would rate them at 8.5. Lastly, I would rate Mass Mutual at 5.5 because they're actively saying they DON'T want people to use their policy cash value for banking; just the wrong company to do business with when they say they don't want your business, I think.
Amazing! Great points! I only had space for 10 companies not every company could make the list, I wanted to do a variety of good and not so good. I think NY Life and Security Mutual are also great companies. I definitely see where you could give Mass a 5.5, makes sense to me based on your argument. And I think most true IBC agents would agree with you on giving OA a 8.5. As most use only OA. You look at the OA leaderboard and it is majority IBC enthusiasts, which I think is great. My personal opinion after writing with OA and other companies and comparing UW and what they offer product wise is they are a fantastic company they just don't do anything that is extraordinary above the others. I have done a comparison of CV growth side by side and they don't win any awards and are middle of the pack and flexibility may be good but other companies offer the same flexibility. Which is why I feel they are a great company just very consistent in the middle of the pack.
@@AndAsset This detailed response helps. Thanks!
Great Video! Foresters Financial also has a good whole life product with a flexible PUA and High early cash value. I would like to get your input on them.
@@MikeRod15 I think Foresters is good and I agree with you and they would work well for this concept as well. I actually started to rate them but had to remove them as I ran out of spots!
@@oldporkchops Thank you sir!!
Why didn't you discuss who offers a 10/90? Not all the companies you listed offers a 10/90 nor a 40/60 tier 1 base. This is VERY important to escalate CV through a PUA. Your info is incomplete, although Infinite Bullshit is still a scam. Why aren't you discussing MECs? You missed the most important variables.
The premise of the video wasn't to elaborate on super specific in detail about each company. It was to give a broad overview of my opinion. I see where you are coming from though on where you feel like I could have improved on. I appreciate the feedback.