Infinite Banking Concept
Become Your Own Banker
Let Inner Circle introduce you to the Infinite Banking Concept (IBC) and show you how to recapture the interest that you pay to banks and finance companies. An infinite banking policy not only provides lifelong coverage and a guaranteed death benefit, but also may pay you a dividend. One of our Advanced Market Specialist will work with you to determine if IBC is the right fit for your financial goals.
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Life Insurance Retirement Plan
IBC (Infinite Banking Concept) as a Life Insurance Retirement Plan (LIRP) is a strategy where you use a participating whole life policy as your own personal "bank" to grow wealth and create tax-free retirement income. We'll show you how to overfund your policy to build cash value faster and borrow against your cash value any time - no taxes, no credit check.
A guaranteed death benefit that can be passed on to your beneficiaries when you pass away.
Greater control over financing personal and business expenses without relying on external lenders
A cash value that continues to grow at a predictable rate, even if the stock market or economy is experiencing downturns
Participating Whole Life Insurance
Permanent life insurance that provides lifelong coverage, guaranteed cash value growth, and the opportunity to earn dividends. Use an IBC policy to build wealth, legacy planning, and as a stable, tax-advantaged financial asset outside the market.
Wealth Building with Liquidity
As your cash value grows, borrow from it without taxes or penalties. Build your own bank to buy real estate, fund a business, pay for college, or supplement college. An IBC policy is safe bucket in a diversified financial plan.
Is Infinite Banking Concept (IBC) Right For You?
The Infinite Banking Concept (IBC) is a financial strategy that uses a participating whole life insurance policy as a personal banking system. Overall, IBC provides a unique way to build wealth while maintaining control, stability, and protection.
Looking for Long-Term Wealth Building
IBC is ideal if you want to build wealth over the long term with guaranteed growth. The cash value accumulation grows steadily over time, and the strategy works best when you're committed to holding the policy for decades
High-Income Earner and Business Owner
If your looking for ways to protect your wealth from taxes and build long-term savings you can benefit from IBC. The tax-deferred growth and the ability to borrow against the policy make it an attractive option for you to build a large nest egg
Seeking Control Over Your Finances
If you value financial flexibility and want to have direct control over your funds, IBC allows you to borrow against the cash value of your policy without requiring traditional loan approval or credit checks
Seeking a Safe, Low-Risk Investment
Avoid the risks of market fluctuations. IBC provides a secure and stable alternative to investments like stocks or real estate. The policy's cash value grows at a guaranteed rate, and dividends remain unaffected by market volatility
FAQs
Five Questions To Ask When Considering Infinite Banking
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How do I get started with the Infinite Banking Concept?To implement IBC, consider the following steps: Educate Yourself: Gain a thorough understanding of IBC principles by reading reputable sources, attending seminars, or consulting with an Inner Circle Financial professional experienced in this strategy. Assess Your Financial Situation: Evaluate your current financial health, including income, expenses, debts, and savings, to determine how IBC might fit into your overall plan. Consult with Experts: Engage with financial advisors who specialize in IBC to receive personalized guidance tailored to your goals and circumstances. Source: Living Wealth
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Are there any potential drawbacks or considerations with the Infinite Banking Concept?While IBC can be a powerful financial tool, it's essential to be aware of potential downsides: Complexity: Understanding the intricacies of whole life insurance policies and the IBC strategy requires careful study and possibly professional guidance. Costs: Whole life insurance premiums can be higher compared to term life policies, and the initial years may have lower cash value accumulation due to policy fees and costs. Long-Term Commitment: IBC is most effective when viewed as a long-term strategy, with benefits becoming more pronounced over many years. Source: The Money Advantage
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What are the benefits of implementing the Infinite Banking Concept?IBC offers several advantages, including: Tax Efficiency: Loans taken against the policy's cash value are generally not considered taxable income, providing a tax-advantaged method of accessing funds. Financial Control: By becoming your own banker, you gain greater control over your financing, reducing reliance on traditional financial institutions. Wealth Preservation: The death benefit ensures that your beneficiaries receive a tax-free inheritance, aiding in legacy planning. Asset Protection: In many jurisdictions, the cash value within life insurance policies is protected from creditors, offering an additional layer of financial security. Source: Living Wealth
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How does the Infinite Banking Concept work?The process begins by purchasing a whole life insurance policy from a mutual insurance company. As premiums are paid, a portion contributes to the policy's cash value, which grows over time. Once sufficient cash value accumulates, policyholders can take loans against it, using the funds for personal financing needs. Repayments are flexible, and the cycle allows for continuous growth and access to funds. Source: Living Wealth
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What is the Infinite Banking Concept?IBC involves using whole life insurance policies with high cash value to function as a personal line of credit. By overfunding these policies, individuals can borrow against the accumulated cash value for various financial needs, such as purchasing assets or funding education, while potentially earning dividends and interest Source: Nerdwallet - Finance Smarter