Five Reasons To Borrow From a Whole Life Policy instead of a Bank

Here are 5 of the best reasons to borrow from the insurance company against your Whole Life policy versus borrowing from a bank: 

* No application process. I ask for the money and I get it. I don't have to qualify...ever! 

* Instant liquidity of repayments. Every dollar I repay on my policy loan is instantly available to be borrowed again without application or qualification, as opposed to a bank loan where payments simply reduce the unpaid principal balance. 

*  Another huge reason for borrowing against your life insurance policy is the flexibility of the repayment plan.   This is especially important if you are business owner with cash flows that fluctuate monthly.  Re-pay policy loans based on your schedule, not the banks.  

* Privacy.  If you have kids to put through college, consider that your bank assets, and even your kid's 529 account, will account against them when qualifying for finanical aid.  You can pay the retail cost of college but wouldn't you rather get a discount?  Strategically placing money in life insurance contracts shields this money from prying eyes.  It also helps you in retirement because policy loans used for income are tax-free and won't bump you into a higher tax bracket.  Retirees with 401k distributions have to report taxable income that potentially reduces Social Security benefits.  Ouch!

* Uninterrupted compounding growth of your cash values.  Simply put, you continue to grow your wealth even when you take a policy loan to use somewhere else.  I call this "Dual Compounding".

Albert Einstein is noted for saying:

"Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it."

In summary, total control is in the hands of the policy owner.  You decide how much and when you pay back the loan.  For best results, don't "steal" (borrow without setting up a payment schedule) from yourself.  Maintain discipline.  Paying back your loan re-capitalizes the policy for future use.  

Let me know what questions you have about Infinite Banking.  You can find me here:  www.IBC.guru

You can also hear me talk about Infinite Banking on my podcast here:  www.TheFifthEdition.com

Thank you,

John Montoya

IBC: Planning For Your First (or Next) IBC Policy AKA "The Future Planning Strategy"

Sometimes it's not possible to get started with an Infinite Banking designed Whole Life policy right away.

One of the primary reasons is due to cash flow restraints. In this scenario, the best alternative is securing a convertible term policy.

If you can budget $20-50 a month, you could lock in a 10 year term policy now that can be used to convert to an IBC designed Whole Life within the next 10 years.  

(Your age, health rating, and amount of death benefit will ultimately determine your monthly premium)

From experience, including my own term policies, I can share the majority of my clients convert their term policies within 5 years to an IBC Whole Life policy.

Life insurance companies will often also provide a credit for the previous 12 months of premium when the term policy is converted. 

Plus, if you are married and/or have kids, the death benefit from the term policy gives your family added protection. 

If you are single, then the convertible term policy is merely to guarantee your health so that you qualify for the IBC Whole Life policy when ready. It's like buying a stock option in that regard where the stock option gives the person the right to buy shares of a company within a specified timeframe. In this case, the convertible term is the " Whole Life option".

I'm a lifer to the insurance business. My first official job after college was with John Hancock Financial. Since that time  I’ve seen a number of people wait to get a policy for various reasons only to lose their health (prostate cancer, stroke, diabetes, complications from a car accident, etc.). I’ve seen a lot of bad luck happen to good people. 

For that reason, I try my best to get people, at a minimum, considering a convertible 10 year term policy.

This type of pre-IBC planning is what I refer to as "Future Planning".  It also works great if you already have one or more IBC Whole Life policies.

I keep a 10 year term policy despite owning multiple IBC designed Whole Life policies.  I keep it available so I know with 100% certainty I can open my next IBC policy even if my health changes for the worse.

Let's face it. This pandemic has proven once again that anything that can happen, will happen!

Back to my own term policy... when I eventually convert my existing term policy to my next Whole Life policy, I'll also look to obtain another 10 year term policy so I can repeat the same process for the next 10 year window of my life.  

If you would like to learn more about getting yourself set up for your first or next IBC plan AKA doing some "Future Planning", let me know.  You can find me here:  www.IBC.com

Thank you,

John Montoya

The Best Place for Money: The Misunderstanding of Whole Life Policies

FOREWORD: Keep one thing in mind before you read my latest blog post.  Failing to understand the mystery of banking doesn't prevent it from actually working.  A banking system will work whether you "get it" or not.  Even from my own personal experience, the biggest hurdle to IBC is the paradigm shift in thinking.  I completely acknowledge IBC is the opposite of how we are taught to think about money.  Failing to fully understand how IBC works is a reason some people never get started with IBC which is a shame.  I've written this post for those who struggle to "get it".  

My parents raised me with a passport savings account and “cashed in” my Gerber Baby whole life policy surrendering it at age 18 so I’d have some additional spending money when I went away to college.  Most people are handed down the same sad lessons that seem like good common financial sense at the time. 

What we fail to learn about money is that the business of banking is the most essential and eternal business that exists.  There will always be a need for banking.  Unless we solve for our need to bank (access large amounts of capital on our own terms), we must rely on the traditional banking system to handle it for us.  Nelson Nash, creator of Infinite Banking, said we all should be in two businesses:  whatever we do for income and the banking business.  I believe he was right.  Alas, not even 12 years of mandated public schooling or higher education teaches us anything about the essence of banking.  Sad.

It’s rather ironic to me now.  We are taught at an early age to trust the bank with its perceived safety (FDIC is underfunded) and borrow from the bank (we are consumers after all, yet we shop at a bank we don’t own).

At what age do we begin to realize we are just borrowing back our own money – pooled together with other depositors? 

We are also taught we don’t need life insurance except to replace income and the narrative says life insurance is the worst place for money.  In actuality, the life insurance industry is a safer place for money than banks.  It’s telling that banks keep their tier 1 reserve assets in ultra-safe, ultra-liquid Bank Owned Life Insurance (BOLI) policies and turn around to recommend CD’s and mutual funds to us.

Beyond just replacing income in the event of premature death, properly structured whole life policies also provide an immediate and available source of capital which can be used for an “infinite” number of reasons for all of life’s milestones.

No need to ask bank loan officers or 401k administrators permission for a loan.  And IBC is all accomplished while earning a guaranteed and compounding tax-free rate of return.

As Nelson repeated over and over again during his lifetime, "Eliminating traditional banks from one’s life is the most stress-free way of living."

It’s a strange thing that IBC has worked for so long hiding in plain sight and without the layperson actually having to know very much of the inner workings of a Whole Life policy (contractually guaranteed and 170+ year history behind it) but it does require a leap of faith into the unknown.  This was true even for me when I started my 1^st IBC policy, a tiny $2300 a year policy because I thought it sounded just a little too good to be true.

I think the worse thing about IBC is that it uses a Whole Life policy as the account of choice.  It’s too easy to get hung up on the life insurance death benefit aspect and not see that a Whole Life policy works better than any other place for money (see chart above).  This is because a Whole Life policy replicates a traditional banking system in the most essential ways.

Sometimes learning requires the use of imagination.  I'm sure you are aware Shakespeare wrote “all the world’s a stage”.  If we are to use our imagination and look upon the business of banking as a play, you’d recognize four characters in the play are the same as with Whole Life:

1. Depositor (Saver) – someone needs to save the money which is what we call capital.
2. Debtor (Borrower) – there’s always need for money (cars, college, taxes, medical expenses, investment opportunities)
3. Admin (someone needs to run the business operation)
4. Bank Owner (Policy Owner) – someone will profit from a person’s need for capital (might as well be you and me)

We are playing 3 of the 4 characters in this play anyway.  Might as well call a Whole Life policy what it truly is:  a cashflow management system.  

If having a death benefit throws you for a loop, please realize the death benefit of a Whole Life policy merely ensures that the money in the policy is tax-free as it grows, is used, and ultimately tax-free again when it passes on to the next generation.  Congress has made it so.  It is all perfectly legal.  In fact, as mentioned Whole Life policies have been around a longer than the Internal Revenue Code (created in 1913 and expanded ever since).

The employees of the life insurance company (as with a traditional bank) do all the work to make Whole Life function.  No luck, skill, or guess work on our part. 

Time, money, and discipline do the rest.  (and perhaps a little bit of faith in getting started at first!)

If Congress passed legislation calling IBC designed Whole Life a 7702 Account (…that’s the actual IRS tax code about tax-free life insurance cash values) making it as mandatory as owning health insurance, society would be better off. 

Actually, a better name for IBC would be to call it an HSA account because it does what a tax-free HSA account does but better… because IBC has the whole life engine to give cash uninterrupted growth, collateral capacity (ability to take loans and repay on a flexible schedule), and of course a death benefit to pay off any outstanding loans at death.

Banking interests will never allow such a law like this though for good reason.

After all, why would people borrow from a traditional bank if they knew they could borrow all the capital they needed from their own banking system on a tax-free basis while earning a compounded rate of return?  The need for traditional banks would evaporate in short time and so to all the major conflicts in the world...

To understand the essence of banking, watch this Youtube clip from the movie The International:
Entertaining movie, by the way.

Are you ready to be your own Banker now?

To learn more and even get your first IBC policy started, you can find me here:  www.IBC.guru.

Thank you,

John Montoya

Infinite Banking for your Kids

How would you like to help prepare and secure your child’s financial future for all stages of their life including college and all the milestone that follow? 

Not ever having to worry about whether your child will be beholden to banks for massive student loans, crippling credit card debt, or any other type of bank debt?

Instead you could give your child the ultimate financial gift. 

Put them in driver’s seat so they can re-write the financial rules to escape the bank-controlled money system that plagues families from one generation to the next.

It’s the so-called “Rat Race” for a reason. 

But it doesn’t have to be your child’s financial destiny. 

The truth is our kids are destined to follow the same financial path we do. 

If you borrow money from a bank from one car purchase to the next, finance your home from mortgage to the next, contribute to a 401k plan praying the stock market can consistently perform so you can finally retire (March 2020 has seen the market crash 25% because of the Covid19 crisis!), I’m going to tell you something that deep down you probably already know. 

You’re saving money in the wrong place! 

Worse yet, your kids will adopt the same or similar money habits from you when they become adults.

Undoubtably, you're a proud parent who wants the best for your kids.  Why pass on a lifetime of financial insecurity?

The challenge Middle Class America has is not knowing what we can do differently for our kids instead of the traditional options… like bank savings accounts and 529 Accounts.  These savings options are mediocre at best.

The big question is: how can you give your child the best head start in life so they can avoid repeating the same financial blunders you've made?  Yes, you!  We all have to own our mistakes in life so let's keep it real.

What I’m going to share with you will help you give your child access to a tax-free reservoir of wealth they can use over and over and over again…at any point in life! 

Not only can it help pay for college but for ALL THE MILESTONES in their life. 

From buying their first car, their first home, start or buy a business, the opportunities they'll be able to take advantage of is unlimited.  That's the power of IBC.  It puts those who implement the strategy in the position to be "Master & Commander" (great movie by the way) of their financial ship!

And IBC will even be there to providing TAX-FREE income in retirement, too.

It’s been called “the Swiss Army Knife of Financial Planning” because of all its uses. 

I’ve even heard the Infinite Banking Concept® referred to as “the black box secret for the ultra-wealthy” because affluent families use it TO HAVE ACCESS to cash reserves WHENEVER NEEDED and FOR ANY PURPOSE.  Plus money kept in these accounts allow families to transfer wealth from one generation to the next.

It's the ultimate wealth building secret

And for kids, the power of time and uninterrupted compounding growth is the perfect recipe to help them navigate their entire financial life. 

I call it the “Junior Estate Builder” and this plan is so simple you’ll be surprised to learn it’s worked for over 150+ years secured by the safest financial industry in the world.

It’s where I put my kid’s savings because I know it will be there for every big event in their life and I invite you to do the same for your children.

In the next few minutes I’m going to share how you can give your child the best financial tool to navigate their life. 

  

This simple, proven financial strategy is so flexible it can be used for any purpose no questions asked. 

Imagine your child having a place to grow wealth without ever experiencing market losses and economic downturns, political uncertainty and social upheaval, or any global event that cut an asset in half without warning.  

With the Junior Estate Builder, every year is a good year

I know it sounds too good to be true but it does exist and it's even written into the IRS tax code.  It just happens to have the worse name ever which is why I choose to call it the "Junior Estate Builder".

With this strategy, your child will no longer be beholden to banks for loans.  No more worrying about getting dinged on their FICO scores, and having to verify income or employment will be a thing of the past.

I can tell you it’s such a peaceful existence to never having to deal with bank loans, high interest rates, and onerous fees. 

Then consider what your child will do for retirement.  401k plans were never meant to be the primary source for income in retirement.  They are fundamentally flawed plans.  Think about it.

Money in a 401k plan is tied up for decades.  Early access is penalized and taxed.  

The only option for growth comes with risky and complicated market-based options with many hidden fees.  In truth, these plans serve Wall Street and the government better than they will for your child. 

Wall Street locks in the revenue for decades with no performance guarantees in return, then the IRS takes a sizeable portion in taxes every year for life. 

Is this really a good plan?  Is it really the best you can do?

It only seems that way if it's all you know!

Well, most parents only know about 529 Accounts too, and like 401k plans, these are severely flawed as well.  

529 Accounts put money at risk like 401k plans, can be used for only college expenses, and once spent will never provide any additional value or benefit to your child... EVER!  

In short, 529 Accounts are a risky, single purpose strategy with no additional value past college. 

The greatest benefit to the Junior Estate Builder is how it can be used to help pay for college, but more importantly, it can be used as a private banking system to accumulate long-term wealth during your child's life.

Imagine a multi-use strategy where your kids can re-use the money over and over again to acquire assets like real estate, or start a business, or perhaps buy an existing business so they can be their own boss.

They can also use the money you save for them to finance all the cars they'll ever own, maybe even put their own kids (your grandkids!) thru college...

Ultimately, it will even provide tax-free income in retirement.

Remember when I mentioned that the Junior Estate Builder is the “Swiss Army Knife” of financial planning?  This is a versatile, flexible, and predictable money system unlike the traditional bank and Wall Street system that holds you captive with your own money.

The sad truth is that traditional financial planning amounts to life-long financial servitude to banks and Wall Street because those institutions control your largest assets.  Congress writes the laws and changes the rules all the time.

Does it make sense to be penalized for early access and eventually get taxed on every dollar withdrawn in 401k/IRA accounts?  These plans are designed more for our government's benefit (great source of annual revenue) and the average American accepts it blindly because “it’s what everybody does!”

And this bank/Wall Street monopolized money system keeps you from discovering the truth about this strategy which hides in plain sight waiting for you to discover it.

It's the secret traditional banks and Wall Street hope you never learn about.

And keeping you in the dark is the best way to ensure your child will learn the same money habits you have now which keep you and your kids tied to banks and Wall Street in perpuity.

This is the financial destiny your child will inherit from you but the strategy sessions I offer will help you and your child change the course of your financial future by getting your child started on a path that puts them in the financial driver’s seat during their lifetime.

As a parent I know you have the best intentions  

I have no doubt your intentions for your child are no different than my parents had for me.

They did what they thought was best for me as a child and most families still do something similar.

For me, it was one those passport savings account books that are now a relic of the past, especially with interest rates at 0% these days! 

Back when I was growing up interest rates were much higher than they are now, so it was pretty cool to see the money my savings account grow at 6-8% each year during the 80’s. 

My parents were dutiful savers and thankfully that discipline certainly rubbed off on me.

Problem is despite my parents work ethic and discipline to save as much as they could for me, they chose accounts that conditioned me at an early age to think of banks as trusted institutions.

The de facto place to always save money.  How was I to ever learn otherwise?  I have a feeling you can relate.

Unfortunately, I had no Rich Dad or wealthy uncle to help me learn about money.
 

For this reason I went to work in the financial services industry after college.  Fast forward 21 years and I’ve tried just about every financial vehicle that exists. 

And of the places I’ve put money, there has only been one strategy and asset class that has worked like clockwork each year.  

This strategy has given me access to money tax-free to deal with financial curve balls as well as financial opportunities (the ability to purchase multiple homes, rental properties, an apartment complex, precious metals, you name it), and do so without ever interrupting the foundational portion of my net worth.  

I stopped contributing after-tax money to mutual funds that left me susceptible to tax consequences each year, including years when I lost money in the market. 

No more maxing out my 401k’s/IRA’s where I was putting my money in financial prison for 3 to 4 decades. 

I even stopped directing money to my kids 529 Accounts.

The more I realized how beneficial this strategy was for me, the more I thought how I should be setting up my kids with the same strategy for when they come of age.

The traditional advice of using 529 Accounts just didn’t make much sense compared to the alternative I had discovered for myself back in 2007.

What really drove home the point for me was my experience as an advisor and seeing 529 College Savings Accounts take massive hits when the market corrected from 2007 to 2009.

It wasn’t just 401k retirement plans that suffered during the last big recession, kids with their 529 accounts, especially those about to go off to college suffered as well.  We are witnessing it now again with the Covid-19 pandemic.

My experience as an advisor also helped me learn the other downside to 529 Accounts which is that not every child goes on to college. 

Money in 529 accounts are taxed and penalized on the earnings if not used for educational purposes.  No such rules or restrictions on a Junior Estate Builder plan.

This was the icing on the cake for me.  No 529 Accounts.  Instead I would set my kids up what I now call the Junior Estate Builder.

I’d give my kids the freedom of choice and direction in life without ever being hamstrung by banks, Wall Street, or even Congress. 

The truth about money is this:

The only fix is taking matters into your hands  

You cannot continue to rely on banks, Wall Street and Congress created plans to create the future you desire.

You have to OWN AND CONTROL your future and you have to teach your kids how to OWN AND CONTROL their future as well.

The Junior Estate Builder gives you the ownership and control with your own “privatized banking system” and it's actually quite simple.

Through the use private dividend-paying Whole Life contracts structured for maximum cash values, I create and OWN the pool of money I use to finance my cars, homes, make investments, pay my taxes… and yes, even to supplement my future income in retirement TAX-FREE.   

All of it is accomplished without ever needing to finance (borrow money from a bank having to agree to their terms), relying on Wall Street roller coaster, or lock up money in lobster traps (401k/IRAs) Congress creates to capture tax revenue each year when I retire until the day I day.

Everything it does for me, it will also do for my kids who each have their own contracts.

Quite simply, the Junior Estate Builder will do for my kids more than any 529 Account could ever do AND do better than any 401k plan could do.

The freedom of this strategy is going to teach them how to be financially independent from banks and Wall Street so they can live the life they aspire to without the financial obstacles that handcuff Middle Class America.

Most importantly, with the power of compounding interest and youth, my kids and yours will have the benefit of time to make even small amounts today go an extraordinaryly long way tomorrow!

Each of my 3 kids have their own Junior Estate Builder.  It’s where I direct their savings and each year their accounts grow larger and larger, just like the adult versions I have for myself and my wife where between the two of us, we have 8 properly designed IBC® Whole Life contracts and counting.  Including my kids contracts, our family has 11 Infinite Banking designed Whole Life policies we direct money to each year.

Think of that for a moment.

Instead letting banks and Wall Street controlling our wealth, my family has total control of a growing pool of money every single year that we can use for any purpose.  

Two simple reasons why this works so well:

1. These are private placed contracts backed by mutually owned (shares are not traded publicly) life insurance institutions that have paid dividends for 150+ years consecutively, even thru the Great Depression. 

2.  These plans are an uncorrelated asset class meaning it has no connection whatsoever to the stock market so will never suffer a market drop.

In fact, unlike Wall Street,  these financial institutions put their own skin in the game by guaranteeing a minimum amount of growth each year no matter what happens in the economy. 

I have the ultimate peace of mind knowing the money I put away from my kids will always be there for them.

I especially love that my kids' financial plan is now all-inclusive for any direction they choose to go as adults. 

Imagine the financial freedom you could be giving your kids where they have the resources to own cars, buy a house, start or invest in a business without the need to ask a bank for financial assistance. 

Attending college is an important milestone but as a parent I really believe we need to look beyond transitioning our kids from high school to college. 

Let’s face it, these days it gets harder and harder to get ahead. 

One thing that often goes overlooked is that the better prepared our kids are to transition to adulthood, the less likely we will have to support them financially in their 20’s, even their 30’s.

You’ve probably heard college graduates are returning to live their parents more than ever these days.

Marriage, having kids, and buying their first homes are being delayed later and later these days.

The number one reason is because they don’t have the financial resources to step out on their own.   

And the results have been proven to work over and over and over again.

So you may be wondering, if this is so great, why haven’t I heard of the Junior Estate Builder?

Now in the financial services business you probably realize Wall Street and Banks will do anything to manage your money. 

They’ve monopolized  401k plans and 529 Accounts to the point all financial recommendations narrowly focus only on stock market-based portfolios. 

For Middle Class America, these are the choices talked about.

That’s the biggest reason why the Junior Estate Builder is the best financial secret hiding in plain sight.

It’s not a Bank and Wall Street created product or service.  Quite simply, they can’t, don’t, or won’t recommend it because it directs money outside of their control!  Remember, it's a very specific type of dividend-paying Whole Life policy.  Furthermore, it has to be structured just right to avoid becoming taxable later in life.

By now you should know when money is locked into 401k/IRA plans, that money becomes tied up for life! 

When the need for money arises, where must a family turn if they are prohibited from accessing their own the largest asset they own?

Middle Class America is forced to borrow money from banks, of course!  They refinance their home if possible or rack up sizeable credit card debt that will take years to pay off.

It’s a system designed with purpose to keep you on that Bank/Wall Street treadmill.

And unless you do something different for your kids, this treadmill is all your kids will likely ever know!

But it doesn’t have to be.

You now have a choice to take action.

You can take the next steps to help your kids avoid the same financial pitfalls.

I’ve made getting started so simple and easy for my clients, that way your kids don’t have to be another financial statistic who don’t have a rainy day fund or have enough to retire on when they are adults. 

The best part? 

You will know down to the dollar and year, how your child’s plan will perform, you will finally have the missing piece that moves your child’s financial life forward from one milestone to the next because they will have access to money tax-free when and where they need it. 

To setup the Junior Estate Builder system correctly, you must be able to do 3 things:

1.  You have to be able to think long-term.  This is not a get rich quick scheme.

Remember, saving for college is one milestone but your child will have many more milestones ahead of them.  Give them the resources to prosper at every stage of their life.

2.  You have to have the financial discipline to save money consistently.  $100 a month is the minimum.  If your budget allows for more, you can add more.

3.  Put the plan on auto-pilot.  It won’t require any luck, skill, or guesswork on your part to be successful because the contract is has guarantees, flexibility, and access to cash whenever it's needed.

If you can do these 3 simple things, you will ensure your child the ability to take advantage of any opportunity life presents them.

OR...you can continue doing what you’re currently doing for your kids hoping the plan works and in the case of 529 Accounts, hope it’s utilized for college. 

I have no doubt your kids will be grateful for any amount put away for their future. 

I know I was grateful for what my parents saved for me, but if you’re the type of parent that really wants to give your kids an edge financially, you owe it to your child to see how this plan can work for them.

Here is the next step to take:

Visit my calendar and request a strategy session here:  www.IBC.guru

Thank you,

John Montoya

Here’s Why You Should Only Work with an Infinite Banking Authorized Practitioner

When you need to prepare your taxes, you go to your tax professional.

When you set up your living trust, you go to an estate planning attorney.

When you want to buy or sell a property, you go to a real estate professional.

Foot issues?  See a podiatrist.  Is your baby is sick?  Go to a pediatrician.  Kitchen remodel?  Hire a contractor that specializes in kitchens.  And on and on we can go.

If this sounds like common sense, it’s because it is.  The point is we seek out specialists in their field when we have specific goals we want to accomplish.  It’s the best way to assure that we get what want-- the best advice from experienced professionals.

When it comes to the Infinite Banking strategy, there are specialists across the United States who have completed the necessary training and been approved by the Nelson Nash Institute to teach and implement the Infinite Banking strategy properly.  You can find an authorized practitioner here:  https://infinitebanking.org/finder/

Here is why you should only speak to an IBC Authorized Advisor:

Whole Life insurance is a financial product.  Infinite Banking is a financial strategy.

There’s no end to the amount of incomplete information about life insurance on the internet.  

There are many life insurance options and no one size fits all.  Anybody who tells you should only buy a certain type of life insurance product probably isn’t qualified to be giving advice in the first place or have a professional agenda to steer you to something only they can offer.

The best life insurance product is the one that accomplishes an individual’s goals and everybody’s situation and priorities are different.  If obtaining life insurance protection is your goal, you should work with a professional who can educate on the pro’s and con’s of all the different life insurance products available. 

Pretty simple.

Taking it a step further, if you are interested in learning more about Infinite Banking, it’s important to know Infinite Banking can be accomplished with different financial products but none as well as a participating Whole Life policy from a mutual life insurance company. 

Definition of product:  an article or substance that is manufactured or refined for sale.

Definition of strategy:  a plan of action or policy designed to achieve a major or overall aim.

If you want to incorporate Infinite Banking into your personal financial picture, then you want a strategy, not a product.  To that end, you want a specialist who knows the field better than the rest.

In working with an IBC authorized practitioner, you’ll be working with someone who practices the strategy and can speak about their personal experiences.  They should be able to tell you exactly how they’ve used the strategy to build wealth.  If they can’t do that, they have not fully implemented IBC. 

Furthermore, any advisor can speak about a Whole Life policy but most advisors don’t even own a Whole Life policy let alone practice Infinite Banking.  Owning and practicing Infinite Banking with a properly designed IBC Whole Life policy is a world of difference!

In addition to the specific Infinite Banking training they receive, all IBC authorized advisors must own their IBC designed policies in order to be certified practitioners by the Nelson Nash Institute. 

   

It’s worth mentioning that not all Whole Life policies are the same and certainly not up to the criteria needed to be used for Infinite Banking.

Example, people who buy final expense whole life policies technically have a whole life policy but this is far different policy from the type of whole life policy an IBC authorized advisor would use for Infinite Banking.  Final expenses have little to no cash value growth and no flexibility or collateral capacity to use for banking purposes.

Another example are Gerber baby policies.  These are technically Whole Life policies but they are non-participating policies which means they pay no dividends.  They also cannot be used for banking purposes. 

Switching gears, it pains me to say that there are advisors who advocate and teach Infinite Banking but are not Infinite Banking authorized advisors.  They have not been interviewed by the Nelson Nash Institute, passed the necessary curriculum and gone thru the mentoring program to be approved as an IBC authorized advisor.   They contribute nothing to the community of advisors who have committed to upholding the highest levels of integrity to the public who are asking for the Infinite Banking strategy.

All IBC authorized advisors take very seriously a code of ethics to structure and implement only the correct type of Whole Life policies for the Infinite Banking strategy.  It’s because advisors were using the Infinite Banking name and peddling different recommendations that Nelson Nash created what was first called the Infinite Banking Institute, later changed to the Nelson Nash Institute by the board of directors to honor Nelson and his legacy.

My advice:  work with an IBC authorized advisor who is trained and vetted versus those who fail to meet the requirements and can potentially put you at risk by recommending policies that are not right for the IBC strategy. 

If an advisor is promoting IBC but is not a verified advisor on the Nelson Nash Institute website, you should ask him/her why that is.   

Action Plan:  3 Steps

1.      Connect with an IBC authorized advisor.  Get a high level overview and learn the basics of the strategy.  If it makes sense logically, request a customized plan.

2.      Complete a financial analysis with your IBC authorized advisor.

3.      Schedule an online or in-person appointment to review your IBC recommendations.  If the plan makes sense for you, start the underwriting process to implement. 

John A. Montoya

www.IBC.guru

JLM Wealth Strategies, Inc.

IBC® Authorized Practitioner

CA Life#0C42222

 

RE: Application Denied

Regret to advise that due to the medical history and recent accident noted in the medical records… application has been denied.

You’ve heard the saying: “early bird gets the worm.”  The last thing you want when planning for your future is to receive a message like the one above.  Unfortunately, I deliver a message like this every once in a while.

Case in point, I had recently been working with an individual who I first connected with in 2016.  For two and half years this person was on the fence about the Infinite Banking Concept (IBC) strategy although this was a referral from one of my most successful clients, a client who has purchased multiple Infinite Banking policies for himself and family across different insurance companies for diversification purposes. 

As one of my strongest client advocates for IBC, he has impacted many in his sphere of influence sharing the many benefits of IBC with family, friends, and work colleagues.  Suffice to say, referrals from this client don’t need much convincing.  They have the testimonial to know Infinite Banking works.

However, sometimes people simply struggle to grasp IBC.  They still believe it is too good to be true. It happens and no word of endorsement from a trusted colleague or recommendation from an experienced advisor is enough to spur a final decision in moving forward.

Never quite ready to pull the trigger we lost touch for over a year.  Then from out of nowhere I get an email end of summer.  This individual is now finally ready.

We pick up where we left off only making minor revisions to update the plan.  Application is submitted, exam and medical records ordered.  Then a few weeks later there some issues with medical records.

You see it turns out this individual had a reason for their sudden motivation.  As the message at the top alludes, something happened.  A car accident earlier in the year was suddenly more serious than noted at the time of the application.  By physical appearances, the individual seemed in good health when we met in person.  In this case though, the eye test failed.

The bottom line, coverage was declined.   

Don’t let this happen to you!  Car accidents are one thing, but I’ve seen people wait only to later be diagnosed with life threatening illness.  We are not immortal.

If you’re on the fence about getting started, there’s a simple solution.  Lock in your insurability with a 10 Year Convertible Term Policy.

This is the shortest timeframe available for a Term Policy that will convert to a custom designed Infinite Banking Whole Life policy.  As an additional perk, a few of the IBC companies I partner with will apply as a credit the previous 12 months of premium paid upon the conversion of the Term Policy to Whole Life.  That’s like getting a move-in special of free life insurance for a year!

How much time does it take to pull the trigger on getting started with IBC? 

For most people, they get started with my simple and easy “3 Step Process”.  In fact, for those with an exceptionally clean medical and driving records, they get approved in as quickly as 48-72 hours from the time of application without even needing an exam.  I’ve even had people get approved with an hour of the application.  Simple and easy!

It’s the 80-20 rule.  Most will start immediately, but some will just choose to watch more videos and wait for a better understanding of the strategy, or who knows.   

My advice: Just don’t wait too long and allow life to get in the way.  At least do the sensible thing.  Get temporary protection and lock in your insurability with a 10 Year Term.   You’ll be able to convert that Term to an Infinite Banking Whole Life policy when the time is right (assuming this is done by the end of the 10 year term period).  No need for a future exam to determine your eligibility.

You’ll have 10 years to cozy up to the idea of guaranteed growth, access to your money tax-free when you want or need it without interrupting the growth, and the peace of mind of knowing the foundation of your financial plan along with your legacy is set no matter what happens around that curve in the road called life.

If you’ve been on the fence, let me know.  It costs you nothing to get a quote on a 10 Year Term Policy.  The choice you make from there is entirely yours.

Have a prosperous 2019!

John A. Montoya

JLM Wealth Strategies, Inc.

IBC® Authorized Practitioner

Bank On Yourself® Authorized Advisor

CA Life#0C42222

Contact me here: www.IBC.guru