Infinite Banking Explained – Everything You Need to Know About It
Infinite banking – perhaps you’ve heard before that it’s like “being your own banker” or that it’s often used with whole life insurance.
But what is it, really? Infinite Banking is a concept that allows you to build your own personal bank using the value of a cash-flowing permanent life insurance policy.
In our guide, we’ll address all of the questions you might have regarding the infinite banking concept, including:
- What is it?
- Who is infinite banking for?
- How does infinite banking work?
- What does it have to do with whole life insurance policies?
- What are the pros and cons of infinite banking?
After reading all of this info, you’ll know whether infinite banking is something that you could benefit from or not.
So, let’s begin, shall we?
What Is Infinite Banking?
Infinite banking refers to a strategy that allows you to design a tailored financial plan for yourself, and it’s tied to having a whole life insurance policy.
In essence, infinite banking makes use of the cash value of whole life insurance policies – also known as permanent life insurance