How Do Bank On Yourself Whole Life Insurance Policy Loans Work?

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In a Nutshell: Life insurance policy loans are a way to borrow against your life insurance policy to provide financial flexibility and freedom. In this article we share how dividend-paying whole life insurance loans work and the benefits of borrowing against your policy.

There is no other financial vehicle that comes even close to giving you all the advantages of a whole life insurance policy loan, which is why some people say it may well be the 8th wonder of the world.  It’s also misunderstood by many people – including many financial representatives.

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Watch this video to discover how Bank On Yourself lets you fire your banker!

So we’ve put together the answers to the 10 most frequently asked questions about whole life insurance policy loans and explained the benefits of this feature in easy-to-understand terms.  If you’re already a Bank On Yourself policy holder, you can download this information and use it as a helpful Consumer Guide to Policy Loans:

Click for answer  Click to open1) What is a whole life insurance policy loan?

Click for answer  Click to open2) How much and when can you borrow from your policy?

Click for answer  Click to open3) Do you pay interest on life insurance policy loans and who benefits from that interest?

Click for answer  Click to open4) Do you have to pay your policy loans back and what are the repayment terms?

Click for answer  Click to open5) How is it possible for your policy to continue growing even on the money you’ve borrowed from it?

Click for answer  Click to open6) Will your policy’s cash value grow faster if you don’t take a loan?

Click for answer  Click to open7) If you can get a lower interest rate from a finance company than the insurance company charges, should you do that instead?

Click for answer  Click to open8) How does financing purchases through life insurance policy loans compare with putting money aside in a savings or money market account and then paying cash for those items?

Click for answer  Click to open9) How does a loan from a 401(k) compare with a life insurance policy loan?

Click for answer  Click to open10) If you’re taking policy loans for retirement income, do you have to pay them back? If not, how does the interest that accumulates affect your policy?

How much bigger could your nest-egg grow when you become your own financing source?

Want to find out how much more money you could have (guaranteed) when you fire your banker and become your own source of financing? Request your FREE Analysis now and find out!
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