The infinite banking is a system where one becomes their own banker by growing their cashvalue inside a properly designed whole life insurance policy. Utilizing the infinite banking concept rather than using traditional banks provides competitive safe growth rates, tax-sheltering and various compounding benefits.
And most importantly the compounding of their liquid assets even while they are being borrowed. In case you want to know more about infinite banking, this ultimate guide will help you gain a clear understanding of what it is. Read on below!
How Does The Infinite Banking Work?
Well, the infinite banking system works better assuming you have a proper structured whole life insurance policy and execute the strategy correctly. This is similar to how big banks work. That is, they have both savings and lending capabilities, and so too does a whole life insurance policy from a mutual insurance company.
In addition, unlike how banks offer low-yielding savings accounts, mutual insurance companies offer guaranteed growth between 2-3%. It is in addition to non-guaranteed annual dividend payments. Therefore, its better making a choice on infinite banking concept rather than traditional banking as it is more reliable.
Is Infinite Banking Legit?
For those in dilemma, the infinite banking concept is indeed legit. Infinite banking concept is not a scam. However, many people tend to feel as though they have been scammed after buying a poorly designed whole life insurance act as the engine for their own private bank.
To be sound and clear, the infinite banking concept is not even something you can buy. It is a simple methodology or redeploying dormant savings accounts plus ongoing cash flows. The best part I that you’ll always be in control of your cash and the only way to get scammed is if you borrowed against your policy.
For too many reasons, infinite banking concept should be yourperfect banking option. Compared to traditional banking system, infinite banking should be your choice as there is more privacy and security in it. You will always be comfortable storing your cash.
Stella Tennant has helped several global brands, which get heard across the digital space, through result driven content & social media marketing efforts. Studying blockchains and cryptocurrencies makes her hopeful of a free and decentralized future.