Infinite Banking Loan Example (Presentation @ IBC Think Tank 2016)
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- čas přidán 25. 08. 2024
- This is a real life case study of automobile financing where I demonstrate how easy it is to use a policy to finance an automobile, and that the action of the owner has a greater bearing on the result of the policy than the life insurance company.
Discover the power of a personal economic system using life insurance.
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All content on this site is for informational purposes only. The content shared is not intended to be a substitute for consultation with the appropriate professional. Opinions expressed herein are solely those of James C. Neathery & Associates, Inc., unless otherwise specifically cited. The data that is presented is believed to be from reliable sources and no representations are made by James C. Neathery & Associates, Inc. as to another party's informational accuracy or completeness. All information or ideas provided should be discussed in detail with your Advisor, Financial Planner, Tax Consultant, Attorney, Investment Adviser or the appropriate professional prior to taking any action.
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An excellent history recap.
Thank you!
Yes my grandmother told me that story since hearing that when she was a child
Excellent information. Thank you
Just curious since I'm new to this whole idea, why not have the $30K in the policy before it's needed rather than keeping it in the "brick and mortar" bank?
He is doing this with a subpar policy imho, but proving concept works.
Other policies were being capitalized.
Please, explain how this policy is "subpar".
I love to me you. I live in Dallas.
My agent said he made my policy max cash value. How can I pay myself interest without going over MEC?
James answers your question in Q&A #15 question #3. czcams.com/video/NlwPRMEd4aY/video.html
What is PUA?
James answers your question in Q&A #23 question #1. czcams.com/video/leoppWx3CrA/video.html
Paid up additions
How come in year 8 your wife's death benefit amount drops over 50%? I'm trying to learn how these policies work and get an idea of what my wife and I could get and how much a premium would be. Thanks for the great content!
Because you sacrifice death bennies to have the policy pay for the premium. So you pay nothing each year, and each year it keeps going up. Alternatively, you could keep paying and watch it sky rocket.
Good observation. If you skip to 10:10 you can see on that annual summary that there's a $210,000 term insurance rider with that policy. What you noticed in year eight is that term rider expiring. The term rider is often added in the early years of these policies in order boost the amount of capital which can be added within the IRS limits.
I love this example and concept! How did you get $30,000 in additional PUA for that size policy? I am trying to do this right now with my truck!
This company has a "catch up" provision which allows previously unpaid PUA premiums to be paid. The catch up premiums are limited but that is how I did it.
I need a new truck also and would rather do it this way but wonder if I start this do I have to wait till I have 50K in it to get a loan through them. Because it sounds like he wired 30K of his own savings and then got a load for 18K which was less than the cash he sent to them. Can you start something like this and get a load for more than what you have in it and still be paying yourself interest on your policy?
I’ve been watching your videos and trying to learn. My question is, instead of paying the 1900$ interest over the 48 months, wouldn’t it be more profitable to use that money to just buy more paid up additions?
One of the most profitable thing you can do is pay money into the paid up additions rider, however you have to account for the cost of capital.
My cash value never stopped earning interest and dividends, compounding tax-deferred, accessible tax-free, forever. (Or at least until I die).
Then my beneficiaries will benefit from all of the financing activities that I've done over my lifetime.
I think Phi is asking this. Would it have been more profitable to buy the truck cash, deposit the difference (between truck actual cost and $30k) into the PUA plus an additional $1900 into the PUA. - hence not paying interest but paying it all to the PUA
If he had done it that way he would have for gone the 84K in additional death benefit.
Do you ever come to Michigan?
Not often, however we have fabulous clients in Michigan. Do you ever come to Texas?
MY POLICY I CAN ONLY APPLY “EXTRA” PUA UP TO MAXIMUM AMOUNT PUA UNDERWRITTEN FOR INITIALLY. WHEN I PAY FULL FUNDED PREMIUMS YEARLY NO MORE EXTRA ROOM FOR ADDITIONAL PUA. IS IS CORRECT TO ASSUME YOU CAN APPLY EXTRA PUA IN THIS EXAMPLE BECAUSE YOUR PUA [PORTION OF PREMIUMS WERE NEVER PAID TO MAXIMUM EACH YEAR?
James Neathery are you still located in Fort Worth?