Aug. 5, 2021

Episode 205: Bank on Yourself® Type Whole Life Insurance Policy Loans vs. Everything Else, Round One

Show Notes

In this episode, we ask:

Have you subscribed to this podcast yet?
What did Patrick Henry say?
Does where you keep money matter?
Does where you keep your debt matter?
What happens when you are in debt?
How many Americans carry credit card debt?
What about all other types of debt?
What did the Federal Reserve study say?
What is the relationship between debt and income?
What about two years of indentured servitude?
How does that make you feel?
What about being debt free?
What about suffering?
What about depression and anger?
What did Dr. John Gathergood of the University of Nottingham study?
What about spending habits?
What about arguments about money as the top predictor of divorce, according to Sonya Britt, assistant professor of family studies at Kansas State University?
What about paying interest to a bank?
What about earning interest?
What about buying a car?
How much will you save?
What about earning interest?
What do you have to show for the money?
What about paying cash?
What about your future self?
How does one avoid this problem?
How does financing really work?
Are all forms of borrowing created equal?
What are the advantages?
What are the risks?
What are the considerations for buying a big ticket item?
What about a major expense?
What are the three things to consider when getting a “regular” loan?
- What about the speed?
- What about the interest rate?
- What about the flexibility of repayment?
What are the three ways to pay for a big ticket item?
- What about paying cash?
- What about financing?
- What about leasing?
What about making large purchases through Bank on Yourself® Type Whole Life Insurance Policy loans?
How do they work?
- How much do you want to borrow?
- Where do you want the insurance company to send the money?
- How many days does it take?
What about compounding interest?
How does taking a loan affect cash values?
What about an example?
What about uninterrupted compound growth?
Where does the policy loan money come from?
Does the money leave your policy?
What about the insurance company’s general fund?
Where do the loan payments go?
How does the policy grow?
Are you using your cash value as collateral?
What is a non-direct recognition loan?
What companies offer this feature?
What are the companies that have limits?
Would you like to meet with Mark to discuss your situation?
Can your money be doing two things at once?
How simple is it to get the money out?
How about uninterrupted compounding?
How about flexibility in repayments?
Are you in charge of how the loan gets repaid (or if it gets repaid)?
What happens if the loan doesn’t get repaid?
Who gets the reduced death benefit?
How are these loans different from every other loan?
What about dividends being based on the profits?
What is a mutual insurance company?
Who is a shareholder?
What about an example?
Who would benefit from the mortgage payments that you would be making each month?
What about the growth on an outstanding loan balance?
What are some strategies you may discuss with an authorized advisor?
What about lease arrangements?
What about having a credit check?
Can you be turned down for a policy loan?
What is a typical APR on a policy loan?
What about growth and compound interest?
What is the time table for policy loan repayments?
What about the flexibility?
What about setting up loan repayments, as you need to?
What about accumulation?
What about paying down interest only on an annual basis?
What about taking policy loans for retirement?
Who is in the driver seat?
What happens when a curve ball hits?
What about continued growth of cash value?
What about paying cash?
What happens when one takes a loan from a universal life insurance policy?
What about opportunity cost?
How do you solve the problem of continuously interrupting the growth of your money?
How can this help you eliminate bank financing?
What about other types of loans? Stay tuned!
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