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Whole Life Insurance Infinite Banking Concept For Car Buying, Guide Launched

'I Own My Bank' has released a new report detailing an alternative financial strategy for high-value purchases, such as buying a car.

Mount Laurel Township, United States - July 29, 2023

The new report covers the Infinite Banking Concept - also known as the 'be the bank' strategy - to use whole life insurance policies in a more actionable way. Policies can be used to build up cash value and borrow against it for larger purchases.

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With the latest release, 'I Own My Bank' covers the most important reasons that Infinite Banking should be utilized as a savings strategy for those considering a new car purchase.

The report comes at a time when data shows Americans are spending over $120 billion annually in banking fees and interest payments alone. With rising prices across sectors, individuals face challenges when financing major expenses like vehicles. Loans or leases often involve high interest rates, limiting ownership, or burial in debt.

As explained in the report, the Infinite Banking Concept provides an alternative solution by using the cash value within whole life insurance policies as a lending system. Since this grows tax-deferred, no taxes apply to the interest and dividends accrued as long as the policy stays active. Funds can then be borrowed against the cash value as needed.

While the Infinite Banking Concept is highlighted in the report as an innovative approach for large asset purchases, it has applications for overall financial management. The method can assist with tax planning objectives and building up funds for retirement. The concept is similar to strategies famously used by the Rockefellers and other elite families to grow multi-generational wealth.

A spokesperson states: "The Infinite Banking Concept is the process by which one becomes their own banker, as taught by the late R. Nelson Nash. In his definitive book on the subject, 'Becoming Your Own Banker', Nash explains how whole life insurance policies uniquely function as dividend-paying assets through accrued equity, and the many creative ways one can utilize this liquid cash value."

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Contact Info:
Name: Will C Ellis
Email: Send Email
Organization: I Own My Bank®
Address: 3111 New Jersey 38 Ste 11 #233, Mount Laurel Township, NJ 08054, United States

Source: PressCable

Release ID: 89103615

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