Buying a life insurance policy is the most efficient way of using your money to create wealth, which is what is referred to as infinite banking. Taking part in infinite banking is similar to running your own business; whether you have a lucrative investment or business opportunities that need financing, you can get your hands on the money you need without involving banks, brokers and other middlemen thanks to infinite banking. There are so many important reasons why you should participate in infinite banking if you are not already taking part. Take a look at some of the advantages of infinite banking in the article below.
Whenever you are need of money, either because of an investment or business opportunity, you can always qualify for the cash value of your policy because of its liquidity, plus you don’t have to qualify to use your money for any purpose you see fit. When you borrow the cash value of your policy for investing or other things, the policy will continue earning interest at a rate of four percent. Perhaps the biggest benefit you will experience when you choose infinite banking is freedom; you will be free to make your financial decisions when you are no longer beholden to banks and other financial institutions.
There is hardly any loan that you will qualify for and enjoy tax benefits except when you are participating in infinite banking system. Any money invested in life insurance policy earns a compound interest which increases its value over time, which is what leads to equity. To qualify for a loan form a bank and other financial institutions, you have to pass several checks among them being credit checks but not if you are borrowing against the cash value of your life insurance policy.
Participating in infinite banking will help you protect some of your assets like the money you have place in life insurance from the reach of your debtors. Participating in infinite banking gives you control over your money; you can borrow money for any use at any time.
So many incredible investment opportunities can pass you because you don’t have emergency cash to invest, but thanks to infinite banking, you will react quickly and decisively to such opportunities because you always have access to cash. Infinite banking can be used to help others too by lending those who are in need of money the loan you get against the cash value of your policy at an interest. These are the benefits you will experience when you participate in infinite banking.