FAQs

Here are some answers to the most frequently asked questions from new clients.

Am I too old to start a whole life policy?

Whole life policies can be purchased up to age 85. Just like with any savings vehicle, the sooner you start, the better. However, it’s never too late to take control of your capital.

What if I’m uninsurable? My health isn't ideal. Shouldn't I wait until I can lose weight, improve my cholesterol, lower my blood sugar, etc?

If you have legitimate health concerns, we have ways to get an opinion from an underwriter prior to application. If you are uninsurable, it is possible to own a life policy on the life of someone whom you have an insurable interest.

I don’t have much money to save. How can I get started?

The sooner you can start saving, the better. We can work with almost any budget. As your income increases throughout your life, your savings plan can expand along with it.

How long is the underwriting process?

This often depends on how quickly you complete your portion of the underwriting process. It can be as quick as 1-3 weeks, or as slow as 2-3 months. If the underwriter sees any red flags along the way, it is common for he/she to order medical records. If medical records are needed to proceed, this can slow down the process.

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Do I need to have a blood test?

There are accelerated underwriting programs for life insurance benefits up to $1,000,000 (and for those that are healthy), which do not require a nurse visit to acquire blood and urine. Otherwise, this is a common part of the underwriting process.

What if I need to change my premium amount? Is my plan flexible?

Depending on how your policy was built day 1, there is usually flexibility to lower your premium if needed. There are also two parts to your premium, base and paid up additions. There is flexibility with how and when each of those are funded.

How long will you be assisting me with my infinite banking system?

Your advisor, or a member of the team, will be here to coach you with your IBC plan year after year. We are here to answer your questions, have annual reviews, and help you through the loan and loan repayment process all throughout your life. There are no fees for this continued coaching.

If I need to access my money do I need to go through you?

No. Although, it is good to keep us in the loop so that we can continue to coach you and help you be a good banker. We want to help you be successful!

Do I have to set up my own repayment plans to my policy, or, what if I want to make changes?

We are here to help you set up the best repayment plan for you and will help you set it up.