tag:blogger.com,1999:blog-7158346798573363380.post7348392958491944229..comments2022-03-24T02:33:15.874-07:00Comments on JLM Wealth Strategies: F.A.Q.'s For The Infinite Banking Concept/770 AccountJLM Wealth Strategieshttp://www.blogger.com/profile/16657045744106853250noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7158346798573363380.post-71224574858278569472014-12-23T12:37:22.733-08:002014-12-23T12:37:22.733-08:00There are no fees to set up a plan. Each plan is ...There are no fees to set up a plan. Each plan is customized based on your annual contributions. Depending on age, the minimum can be as low as $3,000 per year and I've designed cases with contributions exceeding $1m per year. Since an IBC strategy utilizes a Whole Life insurance policy designed with the least amount of death benefit, the driving factors determining that minimum amount of base policy insurance is the insured's age, health rating, and annual contribution. Keep in mind the cost of insurance on a Whole Life policy is fixed for life. It will never increase like with a term or universal type of policy. When designed properly for this strategy, a Whole Life plan will actually be more cost effective than funding a mutual fund/401k plan that, for simplicity sake, will charge 1% annually in fees on a growing contribution amount for the rest of your life with none of the same benefits of an IBC plan. Hope this helps answers your question. If you would like to see a real life breakdown of what the premium breakdown looks like in a plan, I invite you to schedule an online appointment here: www.vcita.com/v/john.montoya. I'll break down the mechanics of the plan and even show you how I, as an advisor, get paid. It's quite transparent when you are shown what to look for. Thank you. John M.JLM Wealth Strategieshttps://www.blogger.com/profile/16657045744106853250noreply@blogger.comtag:blogger.com,1999:blog-7158346798573363380.post-74293985357118245612014-12-23T11:24:13.998-08:002014-12-23T11:24:13.998-08:00none of the discussions on the website mention the...none of the discussions on the website mention the actual fees that are charged to set up a plan or on contributions to the plan. Why aren't these fees addressed?Monty Kuka, Ph.D.https://www.blogger.com/profile/10310509826345867207noreply@blogger.com