It is a concept made popular by the book “Becoming Your Own Banker: Unlock the Infinite Banking Concept” by R. Nelson Nash. There are other names for this strategy, depending on which book or website you read including Bank on Yourself, Cash Flow Banking, Private Family Banking, Immediate Financing Arrangement and many more. They are all essentially the same strategy with different names used for marketing purposes.
How to Take Whole Life Insurance Policy Loans – Infinite Banking
The beauty of the Infinite Banking Concept is its simplicity: use a dividend-paying whole life insurance policy to create a pool of money so you can access cash when you need it. All of the money you put in your policy grows on a tax-deferred basis.
Eight Ways To Make Life Insurance Work For You
1. Tax-sheltered accumulation
2. Reliable returns on investment
3. Insured bequest of shares
4. Extracting funds from a holding company
5. Cascading assets to future generations
6. Creating a source of cash
7. Covering taxes on death
8. Reducing the value of a corporation
Infinite Banking With Safe Pacific
At Safe Pacific Financial Inc. our financial experts specialize in utilizing infinite banking to help clients reach their financial goals. With infinite banking in Vancouver, your financial growth is tax efficient and you can get compound interest to work for you. Infinite banking is highly liquid and your wealth can be built generationally. Have more control over your own finances with infinite banking.