What is Infinity Banking? Can I build my own bank? Yes. Infinite Banking is a financial strategy building cash through personal life insurance. Therefore, your cash value can be accessed in your Infinity Banking Concept (IBC). For example: you can take a loan at 3.4% from the policy. While your cash remains and grows at 5.5%. In fact, it does this by using a combination of dividends and investments.
For this reason, Infinity Banking helps you gain complete control over your funds. Reducing reliance on the traditional financial system gains you greater control of your finances. You can find more information at the Infinite Banking link. There are number of books available on the Infinite Banking Concept site or IBC.
Potential Challenges or Limitations in Infinity Banking are high product costs. However, we can provide you with a quote to see if Infinity Banking fits your finance goals. Quick Debt elimination is one great option of IBC. You can repay your loans that go back to your own bank. Once you’ve paid back the money. Your money earns higher interest that regular banking. Permanent Infinity Banking policies may have higher premiums. IBC can be higher for the entire policy. Initial cash value accumulation may be slow building. This concept allows you to access the cash when you want it. We will explore this more in Financial Education.
Infinity banking helps people “operate their own banks”. You can fund it through insurance policies. This is different from public banks. Whether you need credit for a vacation home or another emergency. You can get funding without a credit inquiry. Without an IBC, someone may lose out on a purchase or mishandle an emergency. Especially, if you experience a layoff or other credit related problem.
Feel free to contact me at 510-831-4754 or Michael@melfinservices.com
Michael Lien
California Insurance License: 0C39579
NPN: 1942573
