Do I Have to Make Loan Repayments AND Make My Premium?
The Infinite Wealth Podcast
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What if I Lose 100 Grand and I Still Owe 100 Grand?
When you take a policy loan, yes, you have to repay interest, but you're also earning interest. A lot of times people forget that and in this situation for this client, he lost money on the investment. And because you use this for an investment purpose, that interest is tax deductible. But what it's costing you is we broke the compound interest curve, right? We can never repay that back,. That's worst case scenario. It rarely happens, but everybody always starts there.
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