Sometimes We Need a Specialist

It seems like everyone requires or needs a specialist these days, for a vet, a doctor, a dentist, etc. It is no secret that my colleague, Jason K. Powers, and I are specialists in the Infinite Banking Concept (IBC). But why is specializing important when it comes to both this concept and life insurance?

Anyone can sell a life insurance policy. Most of us have at least one- it’s part of 'adulting.' It’s usually a term policy- most likely for 20 or 30 years. But IBC is more about learning how to bank, and less about life insurance. IBC uses a niche area of life insurance to help policy owners access money that grows with uninterrupted compounding interest even though that same money is used for real estate investments or other purchases. If this concept worked with any other vehicle… trust us, we would teach people to use that vehicle. However, it doesn’t.

Mutual Matters
The first element that is essential with IBC is the company where the policy is written. Not all companies are equal. Most life insurance company we are familiar with are stock companies. Like any stock company the goal and focus is growing profits so that stock holders are happy and everyone makes more money. The companies we work with are mutual life insurance carriers. This means that as a policy owner, you become an owner in that company. This is important to IBC because it can speak to the ethics of the company we work with, their financial stability, and how they design their products. As a policy owner, you may not know what to look for in a company, but we do. And we’re shopping for the best products and prices.

Producing Products
If the type of company is important for IBC, then if follows that the product type would be essential to making IBC work. True. We regularly meet clients who already have a life insurance policy that they were told would “grow their cash value.” That’s true, but it will take 20+ years to receive access to the same premium amount that they’ve spent decades building. When we set up IBC we’re working with products that have immediate cash-access and with favorable loan rates. Not all products are designed equally and the importance is in the details such as cash value growth, loan rate, and low fees.

Policy Design
Finally, specialist in IBC are critical because of how they design the policy. We’re looking out for important details like making sure the policy will never be taxable, and that the compounding cash-value growth is working in your immediate favor.

If you’re vaguely interested knowing more about how the Infinite Banking Concept can launch or accelerate your real estate portfolio, you need a specialist. Schedule a free consultation today to learn more about how IBC can transform your finances and future!

Olivia McGraw- omcgraw@unbridledwealth.com
Jason K Powers- jpowers@1024wealth.com