The Tax Implications of Life Insurance | Infinite Banking and What You Need to Know

Watch the webinar on the Rockefeller Method now: https://shorturl.at/14eAL   On today's episode, Darren and Christina are breaking down the tax implications of life insurance. Starting with a recap of term insurance and permanent insurance and then breaking down the tax implications of paying premiums, the death benefit, cashing out, and transferring ownership of a policy. If you're serious about infinite banking, you need to check this episode out! Show notes: 00:00 - Introduction 1:55 - Recap of term insurance vs. permanent insurance 3:35 - Types of ownership 5:05 - Typical tax transactions you need to be aware of 5:40 - Tax implications of paying the premiums on a policy 10:25 - Tax implications on receiving the death benefit 17:55 - Tax implications of cashing out or surrendering a permanent policy 20:55 - Tax implications of transferring ownership of a policy BOOK A CALL WITH US NOW: https://www.controlandcompound.com/contact-us FIND US ON: INSTAGRAM: https://www.instagram.com/controlandcompound/ TIKTOK: https://www.tiktok.com/@controlandcompound?lang=en FACEBOOK: https://www.facebook.com/controlandcompound JOIN OUR FACEBOOK COMMUNITY: https://www.facebook.com/groups/controlandcompound