Episode 117: Infinite Banking: Is Whole Life Insurance Premium an "Expense" or an "Asset"?

Becoming Your Own Banker by Nelson Nash: 

https://infinitebanking.org/product/becoming-your-own-banker/ref/46/

Having the correct mindset is absolutely essential when it comes to running your own banking system.

While we know that IBC can fall victim to influencers and grifters online – it can also fall victim to misinterpretation as an “expense”.. Rather than an asset that not only grows your wealth, but ensures that your family and loved ones will be supported in perpetuity.

In this week’s episode, Dave and Paul examine the idea that IBC, or insurance – being viewed as an expense. When it comes to life insurance, that certainly isn’t the case, and they’ll tell you exactly why.

Episode Highlights:

0:00 - Introduction

0:27 - Episode beginning

2:57 - Home equity and HELOCs

7:49 - Thinking of insurance as an “expense” vs. an asset

10:21 - Comparing other types of insurance to life insurance

15:39 - Another point of distinction

19:15 - Life insurance replaces the “future value” of a loss

25:32 - Has your *insert here* insurance gone up?

29:39 - The future is unknown – premium is the solution

31:16 - Another point of comparison w/ “regular” insurance

35:09 - Re-framing the conversation w/i this episode

37:05 - Episode wrap-up

ABOUT YOUR HOSTS:

David Befort and Paul Fugere are the hosts of the Wealth Warehouse Podcast. David is the Founder/CEO of Max Performance Financial. He founded the company with the mission of educating people on the truths about money.

David's mission is to show you how you can control your own money, earn guarantees, grow it tax-free, and maintain penalty-free access to it to leverage for opportunities that will provide passive income for the rest of your life.

Paul, on the other hand, is an Active Duty U.S. Army officer who graduated from Norwich University in 2002 with a B.A. in History and again in 2012 with a MA in Diplomacy and International Terrorism. Paul met his wife Tammy at Norwich.

As a family, they enjoy boating, traveling, sports, hunting, automobiles, and are self-proclaimed food people.

Catch up with David and Paul, visit the links below!

Website: 

https://infinitebanking.org/agents/Fugere494

https://infinitebanking.org/agents/Befort399

LinkedIn:

https://www.linkedin.com/in/david-a-befort-jr-09663972/

https://www.linkedin.com/in/paul-fugere-762021b0/

Email:

davidandpaul@theibcguys.com