It definitely CAN be! As long as the policy is set up correctly and everything is done properly, you can absolutely avoid paying any taxes. However, it is possible to trigger a taxable event. There are 2 taxable events to avoid: Triggering a MEC / exceeding the IRS’s limit on the total amount you can …
First, it’s the most important piece of making a High Cash Value Life Insurance actually work! Any money that goes into this Paid-Up Additions Rider is money that is going into cash, not an insurance expense. These are the dollars that will begin earning interest immediately and that you have access to any time. That’s …
A properly designed cash value life insurance policy with one of the 4 Major Mutual companies! It’s safe, tax-free, liquid, and a fixed asset. Of course, this is not the only place you can get this kind of return. We don’t believe this is the only place you should put your money! Owning a business …
Most of the time, it is probably because people just don’t know about it! Life insurance agents need to know how to properly set up a policy to make the IBC work most effectively. Agents also need to be willing to set the policies up properly. High cash value life insurance policies will end up …
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A policy can be used very similarly to a line of credit. The one catch is that the policy has to be reasonably funded first to build up the cash value so that you have enough to borrow from. If you pay a debt in a typical way just using cash, you may not have …
We get paid directly from the insurance carrier. There is no extra cost to you as the policyholder for using an agent to help set up your policy.
See How Do I Use a Policy to Eliminate Debt? The concept is very much the same. Borrowing money from your policy for any reason, whether it is to pay off a debt or make a large purchase, can be very beneficial since the money that is borrowed is still earning dividends for the policy. …
How do I use a policy to buy a car/house/large purchases? Read More »
https://youtu.be/Slwg9up0FjkYou might think that if you immediately contribute a larger sum of money to a policy, you begin earning interest on it right away and you’ll have more money right off the bat. While that is the case with most other financial vehicles, it works a little differently with life insurance! What you are earning …
Should I contribute a lump sum, or pay over time? Read More »