The Money Advantage Podcast

Is it possible that you have areas of inefficiency in your business or cash flow that could be better used to fund IBC? It's time to discover some of the top inefficiencies in your business where you can recover excess money flowing out of your control. https://www.youtube.com/watch?v=58Ol_6iTLbc Many people have money paying for expenses that could instead build capital reserves, a warehouse of wealth, solvency and stability, access to cash, and even the funding for a buy-out or to weather an uncertain economic future ... and also still be used for the same expense. In other words, you can be more efficient with your money if you think differently. Discover the secrets to finding and freeing up money in your life and business to fund infinite banking premiums in today's insightful episode. We're sharing concrete examples, strategies, and tips that will help you save money, optimize your loans, and maximize the benefits of the Infinite Banking Concept. It's time to unlock your financial potential and run your life like a successful business! The Basics to Fund IBCHow Do You Find Money in Your Business?Structuring Loans for Increased CapitalWhat Should You Finance with a Policy?For Further Reading:Book A Strategy Call The Basics to Fund IBC If you’re a business owner and investor, you may have several streams of revenue and questions on how to use them. In this case, is there an ideal way to fund IBC policies? And how can you creatively manage your cash flows for maximum efficiency? These are important questions to be asking as you work to build your pool of capital and use it, too.  Foremost, building capital takes capital. In this case, your capital is your premiums and PUAs. When you pay them, you’re contributing directly to your cash value. If you don’t have the cash flow to fund your policy without taking on debt, you’re not in a position to start a policy. For example, if you wanted to use business assets to pay premiums, then use the cash value to pay back those assets, you’re actually doing things backward. What will happen is that you have to take a policy loan, so you’ll just be creating more and more debt that can get out of control, and adding interest on top. If you want to leverage your cash value, you want to leverage it for new assets that bring in cash value, not old assets. Otherwise, you’re just taking from yourself and reducing your reserves.  How Do You Find Money in Your Business? But what if you do have assets in your business that you can use and won’t require you to replenish those assets? That way, you can still use those first years as a growth phase, which will give you a stronger capitalization phase later on.  One way to find money in your business is to save money on taxes. You can do this, depending on the advice of your CPA, by choosing to have an S-Corp instead of an LLC, for example. This may help you to reduce your taxes, thereby giving you some extra capital to funnel into a policy. Of course, there are other tax reduction strategies that you can look into with your CPA with similar results.  [17:00] “You do need to pay the IRS what’s fair and square, but you don’t need to tip them. You don’t need to pay what’s more than necessary. So it’s about being strategic—it’s not finding loopholes, it’s using the tax code.” Another way to find money is to reduce expenses elsewhere. Many of your bills are likely negotiable, and it doesn’t hurt to try. If you have a brick-and-mortar business, many of your overhead expenses can likely be negotiated. In addition, you can raise your insurance deductibles to lower your monthly cost. You can then use the difference to accelerate your IBC savings. If an accident does occur, you’ve got capital in reserves. You can also increase your cash flow in ways that don’t have a significant cash investment, so you can use all additional cash flow for your life insurance policy. These are all ways to improve the cash flowing into your IBC policy.  Structuring Loans for Increased Capital Another way to increase the capital you have to contribute to your policy is structuring your loans to have low payments. For example, taking a 30-year mortgage over a 15-year mortgage can give you a significant monthly boost to your cash flow, which can be applied to growing your capital. The same can be said of car loans, personal loans, and anything else.  Naturally, you may be thinking, “What about all the extra interest?” To that, you have to remember that the money you’re saving is contributing to an ever-increasing pool of capital that is also earning interest and dividends. And the sooner you start, the more time you’ll have to grow that pool and increase our volume of interest. That money can eventually be used to partake in a new opportunity that brings you more cash flow in your business.  [31:28] “You’ve got to change the way you think when it comes to your business. It’s all about the cash flow of your business, not your [debt service], because that could be 15, 20 years out.” Don’t let your fear of debt or interest keep you from making choices that will ultimately improve your prospects in the long term of your business. You have to have capital. And the longer you wait to build your capital, the harder things are going to seem when you need that capital.  What Should You Finance with a Policy? Although a policy is the place to store your cash, you’re not going to see a dollar-for-dollar cash value in the first year. In the first 7-10 years, the cost of your insurance—what the company pulls for themselves—is going to eat into your cash value. However, around that 7-10 year mark, you’ll hit a break-even point, and your cash value will be more than the sum of all your premiums.  This means that if you want to contribute $100k to a policy and then take out $100k, you won’t be able to. You won’t have the cash value. You’ll still have a good store, but it won’t be dollar-for-dollar yet. And what you do have, you can’t pull out via a loan at 100%. The company will only allow you to leverage about 92% of that value. You don’t want to redline your policy.  In other words, you’ve got to be patient, and you can’t expect to leverage your policy from day one (although you can). You want to be strategic if this policy is meant to last you over your lifetime. Don’t be afraid to capitalize, but don’t do it at the expense of your long-term asset.  [46:43] “This all is leading toward this idea of [getting] started as soon as possible, but in a prudent way... You want to start a policy before you feel like everything’s under control and before you have enough money to fund all the policies you’ll ever fund. So start now, the sooner the better.” For Further Reading: Cash Flow Index: The Smartest Way to Pay Off Debt How to Pay Less in Taxes, Legally Why Debt Free Doesn’t Make You Financially Free Book A Strategy Call Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? We can help!  Book an Introductory Call with our team today https://themoneyadvantage.com/calendar/, and find out how Privatized Banking, alternative investments, or cash flow strategies can help you accomplish your goals better and faster. That being said, if you want to find out more about how Privatized Banking gives you the most safety, liquidity, and growth… plus boosts your investment returns, and guarantees a legacy, go to https://privatizedbankingsecrets.com/freeguide to learn more.

Learn about the importance of financial habits and the 'use it or lose it' principle in the world of finance. Discover how to make Infinite Banking more automatic and maximize financial control. Dive into the necessity of continuously managing your money flow and capitalizing on the Infinite Banking Concept.

Explore the inner workings and reliability of life insurance dividends in a bad economy. Learn how dividends are calculated in life insurance and the factors that affect their amount. Understand the correlation between dividends and the 10-year treasury constant maturity rate. Compare the investment portfolios and policy loans of insurance companies. Discover the potential impact of a bad economy on dividends and gain insights on leveraging insurance when needed.

Explore the Arrival Syndrome and growth mindset in wealth building. Learn about Infinite Banking Concept, fixed versus growth mindsets, and strategies to defeat Arrival Syndrome. Challenge your beliefs, embrace continuous learning, and create a tailored financial plan with The Money Advantage.

You've decided that you want an Infinite Banking (IBC) policy. You've done the research, and you want a better place to store cash that has the benefits of safety, liquidity, and growth on cash storage. https://www.youtube.com/watch?v=1qJ8xIj5W4A What's next? What should you expect as you go through the purchase process?   In this episode, we take a deep dive into the Infinite Banking Concept (IBC) and explore the intricacies of illustrations, underwriting, and loans. Join us as we navigate the complexities of IBC and help you make informed decisions about your financial future. Insurance is a ContractDirect Recognition vs. Non-Direct Recognition Life InsuranceYour Finances Impact Your ChoicesThe IBC Underwriting ProcessPossible Insurance Rating ClassesAccelerated UnderwritingIBC Death BenefitBook A Strategy Call Insurance is a Contract [4:28] “Contracts are the backbone of any society.” Nelson Nash said this and furthermore believed that if contracts were breached, that would mean the collapse of society. This is why you can rely on your whole life insurance policy–anything that is in your contract and part of your policy design will remain true for the entire length of your policy.  Even as tax law changes and the IRS modifies what’s possible with a life insurance contract, this only affects future contracts. For example, in 1988 the IRS introduced something called a MEC limit. MEC stands for a modified endowment contract and is what a life insurance policy becomes if it’s over-funded. When you have a MEC, your policy loses all tax advantages.  This happened because people were putting so much money into their insurance and accessing that money tax-free, and the IRS wanted a slice of the action. However, thanks to contract law, MEC limits (the maximum premium you can contribute without turning your policy into a MEC) only applied to new policies. To this day, Bruce has policies from the 80s that were never subject to MEC limits.  This is an incentive to start a policy as soon as possible. You don’t know what the future holds, or how the IRS might modify the rules. You do know that you have a need for capital and a need for insurance. By locking it in today, you have more time to build capital, and you lock in all the current benefits of a life insurance contract. Those benefits cannot and will not be changed once the contract is signed.  Direct Recognition vs. Non-Direct Recognition Life Insurance If you’re ready to buy a policy, it’s worth considering whether you want to work with a direct recognition or non-direct recognition company. This determines how dividends are applied to your cash value when you have an outstanding loan.  Direct recognition companies “directly recognize” when you have an outstanding loan, and apply the dividend differently to any cash value with a lien on it. Non-direct recognition companies apply the dividend equally across your cash value, even if you have a lien on some of it. While this may make non-direct recognition seem better, there are no deals in the life insurance industry. In other words, everything is a trade-off. Direct recognition doesn’t automatically mean that cash value with a lien on it will earn less. It really means that it will be applied proportionately to the loan interest rate. And if the interest rate is much higher than the declared dividend, that portion of your cash value may actually earn a bit more. But if you intend to use your cash value often, non-direct recognition may be your best bet. The important takeaway here is that one is not leagues better than the other. After all, interest rates and dividends are unpredictable. Companies will ebb and flow. So don’t get too hung up on the little things, especially if it holds you back from making a choice. Go with your instinct, and don’t sweat the decision too much. You can always have multiple policies with different constructions.  Your Finances Impact Your Choices Before you make any choice, it’s crucial that the team you’re working with takes your full financial picture into consideration. There’s no single “best” policy design. While there are some guidelines, your specific policy will depend on what you already have, and what your goals for the future are. This will even change over your lifetime, so as you grow, you may find yourself with a portfolio of very different policies.  [19:36] “A full financial picture means they need to know what your income is in the household. They need to know what your expenses are in the household. They need to know not only what your assets are, but where they’re laying.” While insurance producers are not legally considered fiduciaries, we believe that this is a fiduciary responsibility your team has to you. Your personal economy matters. It’s going to impact your base premium to PUA ratio, the amount of death benefit you need and how to get it (such as blending term insurance and whole life insurance), whether you’re going to prioritize early cash value or not, and much more.  Other red flags to consider: Your agent doesn’t give you a full illustration (if it says there are 19 pages, you should receive 19 pages) The person selling you insurance isn’t licensed or at least not in your state. You can ask your agent for their license number to reference The IBC Underwriting Process Before you can get approved for a whole life insurance product, you’ve got to go through some underwriting. Underwriting is when an insurance company determines how risky it is to insure you. And since whole life insurance is a permanent product, the insurance companies have to be more thorough. To put it bluntly, they want to ensure that you won’t die tomorrow.  This means the company will look into your current health and health history. Fortunately for you, this happens on the insurance company’s dime, not yours. You’ll complete a questionnaire about your health, as well as your personal life. They want to know if you smoke, if you engage in dangerous behavior (like regular sky-diving), and other habits or facts that may indicate risk. It’s crucial to be honest since it’s all a part of your legally-binding contract.  You’ll also have to get a health exam, at no cost to you. Oftentimes, you can have a nurse come right to your house. Usually, this consists of a blood draw, a urine sample, and a few simple measurements.  While having a dangerous hobby or being a smoker won’t automatically make you ineligible for insurance, you may get a lower rating. Your rating indicates your risk to the company. The better your rating, the more death benefit you can get for the same premium. To put that another way, the better your rating, the lower your premium for a given death benefit. Unfortunately, you may not be eligible for a policy at all if you don’t meet certain health requirements. Regardless of your rating, this does not impact your ability to conduct an Infinite Banking strategy. It won’t affect your cash value or how that works.  Possible Insurance Rating Classes If the company determines that you are eligible for whole life insurance, there are several ratings that you can get. As mentioned, this affects how much your premium will be relative to the death benefit that you want.  The possible ratings are:  Preferred Plus. This is the highest possible rating and is extremely uncommon. People in this class have no negative health history, don’t take medications, have the ideal height/weight ratio, and have a clean family history.  Preferred. If you have excellent health, but are otherwise within height and weight guidelines, or have an issue that’s easily managed, you may be able to get a preferred rating. Standard Plus. This is a rating for people who are in good health but may be slightly outside of the ideal height/weight ratio, or have some minor health issues.  Standard. This is the lowest eligible rating, and also the most common. About 75% of policyholders get a Standard rating. This may mean you’ve got average health and health history, maybe you take some medications, and your height/weight ratio does not meet the guidelines.  There’s also a smoker/non-smoker designation. Non-smokers get a slightly better premium for their death benefit. Note that marijuana is now treated like tobacco, and gets a smoker rating. They’ll determine this from your fluids, regardless of how you consume the marijuana/tobacco.  Accelerated Underwriting Accelerated underwriting is an expedited way to get approved for life insurance. If you’re young and in good health based on some information gathered, you can actually forgo the health exam. You’ll get an offer for a policy, and can actually get approved in a 24-hour window.  IBC Death Benefit Last, but certainly not least, there's the death benefit to consider. This is also what we call the "face amount" of the policy. This is what you're purchasing with your premiums. While your death benefit can actually increase over time with PUAs, the face amount you choose is your baseline. When you die, the death benefit is paid to your heirs. This could be your spouse, your children, your parents, or anyone else you love. You can also change these beneficiaries at any time, by contacting the insurance company. For example, if you get a divorce with no kids, you may choose to take your ex off the list. If you do have kids, maybe you still want to list your ex as a beneficiary, at least until the kids reach adulthood. It all depends on your dynamics, just remember to make changes promptly. Once you determine beneficiaries, be sure to have conversations with your family about money, money management, and good stewardship. You want your loved ones to be prepared for a windfall, even if it happens 50 years from now. Choosing the amount of your death benefit all comes back to your personal economy and goals.

Explore the importance of ethical capitalism and the 'Golden Rule', critique on immediate gratification culture, discuss the power of controlling capital for financial decisions, emphasize citizen vigilance in maintaining a capitalist society, and empower through valuing savings and infinite banking philosophy.

In this episode of the Money Advantage podcast, we explore how to avoid the pitfalls of leaving an inheritance and ensure you leave a positive impact on future generations through intentional wealth management and legacy planning. https://www.youtube.com/watch?v=ZXFUVVoT_6s Inheritance, a transfer of wealth from one generation to another, can be a double-edged sword. On one hand, it can provide financial security and opportunities for the next generation. On the other hand, if mishandled, it can lead to family conflicts, spoiled children, and the squandering of hard-earned fortune. We explore the insights of Dr. Lee Hausner, a renowned consultant to high-net-worth families, family businesses, and family offices, on how to avoid the pitfalls of leaving an inheritance and ensuring a positive impact on future generations. We delve into the importance of understanding the power of money, the various types of wealth present in society, and the significance of instilling the right values in the next generation of wealth holders. Avoiding the Pitfalls of Leaving an InheritanceWealth Transfer and Legacy PlanningStrategic Planning for Family LegacyCreating Successful and Prosperous FamiliesSibling Competition and Social CompetencyAbout Dr. Lee HausnerBook a Strategy Call Avoiding the Pitfalls of Leaving an Inheritance Dr. Lee Hausner's background as a psychologist in the Beverly Hills school district exposed her to the effects of different types of wealth on families. She observed first-generation entrepreneurial wealth, trust fund wealth, and industry wealth, each with its unique set of challenges and expectations. This experience, coupled with her expertise as a consultant to high-net-worth families, has given her valuable insight into the potential pitfalls of leaving an inheritance. One of the key challenges in wealth transfer is finding the right balance between providing financial security and ensuring that the next generation does not become complacent or entitled. Overindulgence and a lack of understanding of the value of money can lead to destructive behaviors and a squandering of family wealth. Dr. Hausner emphasizes the importance of raising children who are competent and self-confident, regardless of their financial situation. This foundation will help them navigate the complexities of wealth management and inheritance, ultimately leading to more successful and prosperous families. Wealth Transfer and Legacy Planning A successful wealth transfer and legacy plan requires intentional and strategic planning. Dr. Hausner suggests that families think of themselves as a business, applying the same strategic planning techniques to their family life as they would to their professional endeavors. This includes setting goals and strategies, holding family meetings, and fostering a culture of open communication and collaboration. In addition to teaching children about the fundamentals of money management, it is crucial to instill the right values and work ethic in them. This can be achieved through a combination of education, experience, and mentorship. Dr. Hausner also highlights the importance of being strategic about when and how much to pass on to the next generation. A well-planned wealth transfer will take into consideration the needs and abilities of each family member, ensuring that the resources are used productively and effectively. Strategic Planning for Family Legacy Creating a successful family legacy requires a clear vision and a strategic approach to wealth management. Dr. Hausner recommends reverse-engineering the desired family outcome and breaking it down into achievable goals and milestones. This process should involve open and collaborative discussions among family members, ensuring that everyone's needs and aspirations are considered. One of the perennial concerns in wealth distribution is the issue of equality. Dr. Hausner suggests that families should focus on giving recipients what is beneficial, rather than simply striving for equal distribution. This approach ensures that each family member receives the resources and support necessary for their individual success, without fostering resentment or rivalry. Additionally, selecting the right trustees and advisors is critical in ensuring a smooth wealth transfer and effective management of family assets. The next generation must be equipped with the knowledge and skills to take on the responsibility of managing the family's wealth and continuing its legacy. Creating Successful and Prosperous Families Dr. Lee Hausner's wealth of wisdom on family business succession and legacy planning highlights the importance of creating a strong family culture and helping the next generation become competent and self-confident. Being intentional in the business of the family, setting goals and strategies, and holding regular family meetings are crucial to ensuring the success of the family and its legacy. Legal documents and estate plans can provide a framework for wealth management, but they cannot guarantee the success of a family's legacy. The family culture, values, and relationships are ultimately more important than a perfect estate plan. Dr. Hausner encourages families to prioritize these aspects of their legacy and to reach out to professionals if they need guidance and support. Sibling Competition and Social Competency Helping children develop their own unique strengths and interests, rather than pitting them against one another in competition, is an essential aspect of fostering strong family relationships and a successful wealth transfer. Dr. Hausner shares her experiences of helping siblings find their individual paths and avoid unnecessary rivalry. Encouraging children to participate in different extracurricular activities and providing opportunities for collaboration and support can help foster strong connections between siblings, ensuring a lasting family legacy. About Dr. Lee Hausner Dr. Lee Hausner is an internationally recognized psychologist, business consultant, seminar leader and keynote speaker. Dr. Hausner served 17 years as the senior psychologist for the Beverly Hills Unified School District during which time she authored the seminal work regarding wealth and the family, Children of Paradise: Successful Parenting for Prosperous Families. She has co-authored with Douglas K. Freeman, J.D. Legacy Families: The Definitive Guide to Creating a Successful Multi-generational Family and an A Founders Guide to the Family Foundation. Most recently she contributed chapters to the resource books, Wealth of Wisdom, the top 50 questions wealthy families ask and More Wealth of Wisdom. Dr Hausner co-founded IFF Advisors a consulting practice providing services for high net-worth families, family businesses and family offices. She incorporated a unique six-step transition model for effective succession of family businesses in her critically acclaimed family business resource book, Hats Off to You: Balancing Roles and Creating Success in Family Business Succession. A frequent guest on national media, a quoted expert in national publications, a keynote speaker for high-net-worth private client conferences for the major financial institutions domestically and internationally, she is also a highly rated resource to YPO, WPO, CEO, EO, Tiger 21 and was a presenter at the Davos conference in Switzerland. Book a Strategy Call Book a Strategy Call Navigating the pitfalls of leaving an inheritance, complexities of wealth transfer, and family legacies can be challenging, but with the right approach and guidance, it is possible to create successful and prosperous families. By understanding the power of money, instilling the right values in the next generation, and adopting intentional and strategic planning, families can ensure a lasting and positive impact on future generations. Would you like guidance for creating a meaningful and impactful family legacy? Do you want to coordinate your finances so that everything works together to improve your life today, accelerate time and money freedom, and leave the greatest legacy? Start with my book, Seven Generations Legacy. It’s packed with actionable insights and strategies to help you build a strong foundation for your family’s future. Once you’ve explored the principles, let’s take the next step together. You can book a call with me at Seven Generations Legacy®, where we’ll work to create a personalized plan tailored to your family’s unique goals and vision. Let’s start building your legacy today!

Financial expert Nelson Na joins us for part 8 of "Becoming Your Own Banker" series. We explore how to save taxes with the Infinite Banking Concept using dividend-paying whole life insurance. Topics include legal plunder, taxation, triple tax advantage, and modeling successful behaviors. Join us as we unpack Nelson Nash's wisdom and learn together.

Are you shopping for the best Infinite Banking policy, but want to first make sure you have the correct policy design with a good life insurance company and a team you can trust? https://www.youtube.com/watch?v=aUwFuc7NCec Here’s the first thing you need to know: there’s no such thing as an “Infinite Banking Policy.” We only use that phrase here because it’s commonly searched, and we want to meet you where you are. But the truth is, Infinite Banking is not a product—it’s a strategy.  The vehicle we use is properly structured whole life insurance with a mutual company. But it’s not the policy alone that creates results. It’s how the design, funding, and use of that policy align with your larger financial strategy and your legacy goals. That’s where most people get off track—and where working with a like-minded team becomes essential. In this episode, we dive deep into the infinite banking concept and discuss the importance of choosing the right mutual insurance company and working with a like-minded advisor or agent team. Join us as we share our insights and experiences to help you better understand and implement this powerful financial strategy in your own life. If you want to say goodbye to second-guessing and regret, and make Infinite Banking decisions with certainty and confidence, tune in today! Building Confidence Through EducationHow to Choose the Best Insurance Company1. Choose a Mutual Company2. Look at Financial Ratings3. Do They Have a History of Dividends?4. Customer ServiceBest Whole Life Insurance Companies for Infinite BankingHow to Choose the Best Producer/TeamThe Five Tenets of IBCHow Does Your Advisor Support You? How to Buy the Best Infinite Banking Policy1. Choose Whole Life Insurance2. Paid-Up Additions3. Apply Dividends to Cash ValueCommon Mistakes to Avoid When Choosing a PolicyReal-Life Examples: The Living Proof of Policy DesignUsing Whole Life Insurance to Build Wealth and Business FreedomBook A Strategy Call Building Confidence Through Education Finances can be a tough space to navigate because money is deeply personal, and everyone has different opinions. That’s why we value providing education – because we want to give people the tools they need to build confidence and make their own decisions about money.  Confidence allows you to take action, build trust, and create a positive cycle. You learn more, become more confident, take more action, and build more trust. This simple, small shift allows you to be at the helm of your financial choices, rather than shifting responsibility off your plate completely. How to Choose the Best Insurance Company If you’re interested in infinite banking, based on our material or something you’ve heard elsewhere, you may have questions on how to do it “right.” While this can vary depending on your personal money goals, there are some general rules of thumb to follow when you buy a life insurance policy for IBC purposes. Let’s go over them together.  1. Choose a Mutual Company A mutual company means that the insurance company is owned by the policyholders. In order to benefit from dividends, this is the type of company you want to work with. As a partial owner, you get to participate in all profits. While not guaranteed, mutual companies tend to run a tight ship and make very conservative long-term decisions. You can expect them to profit.  The other option is to choose a stock company, which is beholden to shareholders. These shareholders may not even have a policy with the insurance company. This can drive stock companies to make riskier, short-term decisions that aren’t always in the best interest of policyholders. You also don’t get those dividends if they do turn out okay.  2. Look at Financial Ratings In addition to being a mutual company, you also want to work with a company that has a solid financial history. A good track record suggests that they know how to manage risks long-term and can continue to do so for 30+ more years.  You can check a company’s financial rating in any of the major rating services: Standard & Poor’s, AM Best, Fitch, and Moody’s. A company with at least a 90% rating is a good company to work with.  3. Do They Have a History of Dividends? Another benchmark of a good mutual insurance company is its history of paying life insurance dividends. This indicates that they have good long-term vision and are capable of turning a profit even in dire economic landscapes. Many mutual companies have paid dividends every year for the last hundred years, which means they turned a profit during major wars, recessions, depressions, and the housing crisis.  This is a great indication of good stewardship and consideration for policyholders. So be sure to choose a company that has a solid record of profit.  In the same vein, it’s worth taking note of how close companies are to hitting their declared dividend. Occasionally, companies overstate what they think the dividend will be and end up being off the mark. It’s not necessarily a deal-breaker, yet something to be aware of as you look for companies.  4. Customer Service What kind of customer service does the insurance company provide? How responsive are the insurance companies? This is information your producer or agent will know well. Each company operates differently and has its own way of doing things. The best life insurance companies for infinite banking may even be faster at distributing funds than others. If you’re going to be using your policy over your whole lifetime, choosing a company with good service will benefit you.  It’s also important to note that while you can execute an IBC strategy with any mutual company, not every insurance company supports the idea or understands it. Your producer can also help you identify which companies understand what you’re trying to do.  Best Whole Life Insurance Companies for Infinite Banking Your legacy is not the caboose of your financial life. It's the engine. Selecting the best infinite banking policy isn't a decision to leave buoyed by happenstance. Choosing the right whole life insurance policy to implement the Infinite Banking Concept isn’t about chasing a top 5 list. It’s about discernment—and alignment. You may notice we’re not naming specific companies here. That’s intentional. Because this isn’t about which company we think is best. It’s about helping you find the company that best fits your values, vision, and goals. We’ve included a full section in this article that walks you through how to evaluate a company—but naming names here would shortcut that process, and potentially mislead. The truth is: there are several strong mutual companies that support Infinite Banking with excellent policy design, financial stability, and client service. But which one is right for you depends on your cash flow, your timeline, your use of capital, and the specific features needed to implement the strategy well. What matters most is working with a company that: Embraces the Infinite Banking Concept—not just sells whole life Has a long-term stewardship mindset Offers consistent, responsive, relationship-centered service And is a true partner for your family’s multigenerational plan When it comes to building legacy, we don’t take shortcuts. And that includes helping you make decisions based on wisdom—not popularity. Remember, the best whole life insurance policy for infinite banking isn't determined by a single metric. It's about finding the financial partner that aligns with your family's values and vision - one that will stand as faithfully with your grandchildren as they do with you today. How to Choose the Best Producer/Team After you have an idea of what company or companies you’d like to work with, you’ll want to choose an agent or producer to help you set up your policy. In an ideal world, this is a lifelong relationship, so you want to choose someone you trust and get along with.  If you want to use the Infinite Banking strategy, proceed with caution when you see companies using other terminology. You’ll see various spin-offs of IBC, which are little more than marketing tactics. However, not every one of these companies is going to be advocating for or following the 5 Tenets of IBC. Let’s go over what those tenets are. The Five Tenets of IBC [15:20] “Number one, Nelson always said [to] think long-term. And when you link long term, you’re going to make better decisions for you and your family, instead of trying to make short term decisions.” Number two, don’t be afraid to capitalize. Each and every person has a need for capital, so you should be looking for ways to solve that need. And when you have an opportunity, don’t be afraid to use your capital.  The third tenet is to be a good steward of your policy. If you take a loan, pay it back in full. While you can get away without doing so, you’re only hurting your own bottom line.  Tenet four is not to do business with banks. Now, this can take some considerable time, because of our current economy. But eventually, you should have a banking system that allows you to finance your own endeavors.  Finally, you’ve got to re-think your thinking. Don’t accept everything you know as fact, and be willing to learn and grow. In particular, this applies to what you know about whole life insurance, as many people misunderstand it.  How Does Your Advisor Support You?  When choosing an advisor, if you want to do infinite banking, the best thing you can do is find someone who has gone through the Nelson Nash training using the Practitioner Finder. These are going to be advisors who are well-versed in IBC and have the desire to keep growing in their practice and their offerings.  In addition to the support you’ll get from an IBC-trained advisor, it’s also important to ask them about their practices. Will the advisor do annual reviews? Can you count on them,

If you want to be successful with your finances, you need to conquer Parkinson's Law and taxation obstacles. But first, you must rethink your thinking and question everything you've been taught. By taking personal responsibility and examining your mindset, you can overcome the temptation of excessive consumerism and debt. Delaying gratification and spending less than what you make are key to defeating Parkinson's Law and achieving financial stability. So start educating yourself and find what works for you.