If there ever were two things that don't go together it's "Infinite Banking" and "IUL".
I try to avoid Facebook like a plague but every now and then I do log in. There are just too many ads and rants for my liking. One of first ads I saw was for, you probably guessed it, "Infinite Banking IUL".
If you should see one of these ads, videos, or blogs posts from anyone touting the benefits of Infinite Banking, run in the other direction.
The Nelson Nash Institute is the only place on the internet where you can find an Infinite Banking Authorized Practitioner. Here's the link:
https://infinitebanking.org/finder/
One of the reasons the Nelson Nash Institute was created was to root out the imposters posing as Infinite Banking experts. This was largely because advisors were liberally taking the Infinite Banking strategy and then selling IUL's (Indexed Universal Life insurance).
Only Dividend Paying Whole Life policies are to be used for Infinite Banking. The reasons are multiple but the main one is that a Whole Life policy when structured for Infinite Banking avoids unnecessary risks embedded into the flawed design of an IUL policy that poses long-term risks on the performance of these policies.
No such performance risks exist with a Whole Life policy because the premium on a Whole Life is fixed from day 1 and there are no surrender penalties. Cash values are readily available to be used as soon as 30 days. IUL's doesn't have the same set up.
And this is just the tip of the iceberg. If you are being quoted an IUL, let me know. I can walk you through the in's and out's of an IUL and show you what a true Infinite Banking plan looks like.
www.IBC.guru
Thank you,
John Montoya
No comments:
Post a Comment