You’ve heard some people borrow from their life insurance policy and don’t pay it back. And you might be thinking: “I’ll do the same thing! Why not?”
You’ll want to listen to this episode because I’ll share why not treating yourself like an honest banker is a bad idea.
I’ll also explain all the repayment options available to you, and what to do if you have a financial hardship and don’t think you can repay your loan like you had planned.
Listen now!
Show highlights include:
- “Repayment Refresher”–The many ways to repay your loan and how to set up a loan repayment. ([1:47])
- Loan payment “magic trick” for life insurance loans that conventional bank loans can’t match. ([3:17])
- Why I don’t recommend using dividends to repay your loan, even though you could. ([5:15])
- Money’s tight? Can’t repay your loan? Try this before surrendering. ([5:49])
- What really happens if you don’t repay your loan. ([7:01])
- How reckless borrowing and careless repayment can combine to cost you your policy. ([8:32])
- The tax return nightmare that follows a policy lapse. ([9:26])
- Why the “honest banker policy” is the best approach to IBC. ([9:54])
Reach out to me:
valerie@alphaomegawealth.com
https://www.linkedin.com/in/valerie-laroque-lacp-b569509
Infinite Banking Mastery (infinitebankingnorthwest.com)
