The Infinite Wealth Podcast Access Your Cash Value Without a Policy Loan | Life Equity Line of Credit for Infinite Banking
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Jan 28, 2025 Dive into the intriguing world of Life Equity Lines of Credit (LELOCs) as the hosts unpack how they work and their benefits over traditional banking. Discover surprising links between LELOCs and fashion trends, and explore their economic implications in today’s fluctuating interest rate environment. The discussion reveals who can best leverage this financial tool, highlighting both its advantages and potential drawbacks. Whether you're seasoned in infinite banking or new to the concept, there's plenty of valuable insight to gain!
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LELOCs and Interest Rates
- Life Equity Lines of Credit (LELOCs) let you access policy cash value.
- LELOC interest rates are tied to the U.S. prime rate, making them more attractive when rates are low.
How to Get a LELOC
- Collateralize your whole life insurance cash value with a third-party bank for a LELOC.
- This process is similar to a Home Equity Line of Credit (HELOC), but you collateralize policy cash value instead of home equity.
IBC Purists and LELOCs
- Many Infinite Banking Concept (IBC) purists dislike LELOCs because they involve banks.
- However, the podcast hosts recommend LELOCs to clients when advantageous, prioritizing client needs over strict adherence to IBC principles.
