The Good & Bad of The Infinite Banking Concept

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📖 Chapter Timestamps Here ⏰
0:00 Intro to the Problems With Infinite Banking
1:09 Introduction to Bobby Samuelson & Life Product Review
2:49 Why Did Bobby Samuelson Write His Blog on Infinite The Banking Concept
5:00 Policy Loans in Whole Life Insurance Are Magic
6:30 Is Your Money Always Compounding Inside An Infinite Banking Policy?
7:45 You Can Not Use IUL For Infinite Banking
9:10 Positive Arbitrage Is Not What Infinite Banking Is All About
11:10 The Biggest Problems With Infinite Banking Marketing
12:10 Infinite Banking Is AMAZING If You Understand It

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VALUABLE CONTENT TO CONTINUE THE EDUCATIONAL JOURNEY:

How To Properly Structure A Whole Life Policy

Indexed Universal Life vs Whole Life - Which is Better

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🤔 ABOUT LIFE180 😃
Chris Kirkpatrick launched LIFE180 as a solution to a problem. As the director of business development for a Fortune 1000 life insurance / broker dealer, he became disenchanted with the financial industry because of the lack of education provided to clients and how "financial advisors" were really just glorified sales people.

So... LIFE180 was launched to help give relevant financial education for people to create wealth. Along the journey, LIFE180 has evolved. Chris quickly realized he was passionate about not just helping entrepreneurs on how to leverage their money, but how to build their businesses.

Over the past 5 years, Chris has spent thousands of hours mastering the art of online business development for himself and clients. In 2020, LIFE180 morphed into a full service online business launch and development agency. If you need any help creating more revenue or generating more leads online, LIFE180 can help.

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*All content in this video is for educational purposes only and is not to be interpreted as personal financial advice.

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[theonethatgotaway]

Hey, just of my term policies (20 yr term) expiries next month. Freaked me out because now I only have one of the two remaining term policies. Then I thought, self insured with the money saved on whole life premiums vs term and term gave me the coverage my family needed. Yes, you have to actually invest the difference. You do you know what worked for me. Find me a 60+ year old that's had this Infinite Banking strategy for at least 20 years and let's compare. I'm all about helping people so let's do it. Be blessed.

[mortykatz]

I created the family financial freedom plan - goes back to the 3 things that happen in life die to soon live to long and shit happens. Concentrating on living benefits- but I also pivot to IBC tax free retirement pension max. IUL is terrible for most situations. 41 years in the business

[josephsaeteurn]

the key is if you take out the loan and use the money, you need to make more money than the interest fee from your insurance company.. sometimes, you get lucky and u find a borrower that pays 8-10% on the loan.. you can also invest it in the stock market and get 20% return but is not guarantee. But higher % of making 10% return.

[Paka]

Awesome value. Thanks for keeping us up to date.

[thedot]

I was told the loan interest is simple interest. What you pay goes back into paying principal

[coryreedy]

Great. Great stuff. I’m a whole life guy and if someone comes to me wanting a private bank with an IUL, sorry, you’ll have to find another agent.

[JasonBrown]

I must admit and give credit where credit is due. This was a good interview and controlled and metered comments from both sides. My one contribution is this: A comment was made about some insurance agents recommending IULs telling people they are stupid for buying whole life etc. Here is my rebuttal. The fact is some insurance agents who sell whole life insurance policies do the exact same thing!! Those agents tell people that IUL is garbage and they should never buy an IUL, and that they'd regret it, or that it's stupid etc. NEITHER CLAIM IS A FACTUAL TRUTH. What is true is that it cuts both ways and both products can be abused. Sadly, that is a fact...and that's coming from a financial professional going on his 27th year full-time in the business. ~ J. Brown

[pablo]

Just can’t ever get enough of Bobby’s insight. You always know he’s not sugarcoating anything.

[tufinanciallab]

I congratulate you on your content. I would like to hear your opinion of IBC when policyholders are Rated for their health. Is it decisive or not ?
Thank you

[cscorona]

I always like it when you interview him. He’s got the honey badger vibe going on.

I definitely appreciate and concur with his take on direct vs non direct recognition. I went with direct recognition in my own policies I’ve set up over the last few years. I would love to hear him expound on that point further.

[CC..Jeremiah_]

I’m new to all this information, and the one or two I have watched say to pay back the loan from the policy. They never said, that I heard, not to repay the loan. In fact, they said to add to the cash value until they tell you not to do so anymore. They then said to go get another policy. So not all give bad information. So what do you suggest is a moderate approach? Thank you.

[meetviktor]

When interest going up like now, it's also good for dividends inside the policy because it grows better in high interest environment

[multimeter]

I use Penn Mutual, so it is direct recognition, but I understand the difference between the two and after seeing that the interest they pay on the collateralized amount isn't that much lower, I don't regret the decision.

[southwickfamily]

Very good video! WFG recently sent out a directive forbidding use of the concepts of infinite or personal banking. "WFGIA agents they are not permitted to use concepts such as Infinite (or Family) Banking to market life insurance products to the public."

[KyleAffronti]

I want to setup this infinite banking concept stuff... but I don't have a lot of extra money to put into it to get started etc...

[tommasiero]

Is there a link to Bobby's article on this topic mentioned at 2:49:00

[moriendus]

Nothing he says contradicts anything Nelson said. I think he's addressing the claims of the less ethical agents who promote IBC (usually calling it something else like "privatized banking" or "family banking" or whatever because they are not members of NNI and not legally allowed to call it "infinite banking"). I think he acknowledged this at the start.

Nelson said very clearly to be an honest banker and pay back your loans and to only use whole life policies for them. James Neathery has said the same on many occasions on his own podcast.

There are definitely some shady agents perverting Nelson's message and selling poorly-constructed "IBC-style" policies with either too little base or as an IUL. There are always grifters everywhere whenever there is money to be made.

James has also often said to stop trying to make IBC better than it is. It just is what it is, and trying to create some Frankenstein policy to make it "better" will be building a foundation on sand.

[MaxMcGuireCPA]

Actual authorized IBC practitioners have never recommended IUL.

[howtoinvestyourself]

This is why I have both a MPI IUL and a whole life policy for IBC

[jimervinus]

So right now you would choose a direct recognition policy? Which one do you think will be better for someone in their forty's opening a new policy? Thanks for all the amazing content and God bless you!