How to Be Your Own Banker | Episode 451

Becoming your own banker, the infinite banking concept, bank on yourself and other financial concepts promote the idea of using the life benefits of life insurance. Many people think life insurance is for when you die, that's true, but you can also use life insurance while you're still alive. There are benefits to using life insurance as a financial tool that you cannot get with any other financial products. But the problem is there is good life insurance and bad life insurance and too many people who want good life insurance wind up getting bad life insurance. We talk about good life insurance, bad life insurance and how to get a good life insurance policy with cash value so that you can be your own banker. Resources: Life insurance policy sales and review McFieInsurance.com  Contact: [email protected] | 702-660-7000 0:00 How to Be Your Own Banker 3:15 History of life insurance 5:38 Types of life insurance 7:09 The two types of life insurance 8:56 The origin of Buy Term, Invest the Difference 11:26 Term life insurance, universal life insurance, indexed universal life insurance (IUL) and whole life insurance 15:00 Reviewing an IUL policy 18:23 How to set up your finances 20:57 How to tell if a life insurance policy is good or bad 22:39 10/90 Infinite banking policy (IBC) 25:11 Guaranteed vs non-guaranteed values 30:13 The difference between cash value and death benefit Follow along: Instagram: https://www.instagram.com/wealthtalkspodcast/?utm_source=ig_web_button_share_sheet&igshid=OGQ5ZDc2ODk2ZA==  Facebook: https://www.facebook.com/profile.php?id=61554798231074  Watch on Youtube: https://youtu.be/-sUT5xUCkbs