Best Whole Life Insurance Policy For Infinite Banking

Are you interested in using a whole life insurance policy for infinite banking? Keep reading to know the best company that suits you. 

Do you feel like your bank is holding you hostage? With traditional banks, there are a lot of fees and pitiful interest rates. 

Maybe there was a better way? If you can create your bank using a whole life insurance policy? 

When you properly design the policy for cash value growth, then you can use cash equity in your policy to borrow against for future purchases. 

Also, you stop using banks and use your whole life policy to finance your life. 

There is a good approach when you personalized banking like Infinite Banking Concept that allows individuals to become their bank. 

Moreover, Economist Nelson Mash created an approach where people can access their money always by borrowing from themselves and then repaying into the account. 

Using this method will give you more flexibility than traditional banking options. 

READ MORE: Best Whole Life Insurance Policy Review 2024

What Is Infinite Banking? 

Infinite banking is the process of overfunding a stable life insurance policy that can borrow against the rules of cash value. 

You have an alternative to seek a traditional loan as a funding source. Also, it comes with many advantages which are ease of funds for emergencies, flexibility for loans and tax savings. 

However, a long-term strategy requires proper planning to get results. I will recommend you consult a trusted financial advisor before making any decision, to begin with. 

Are you considering the Infinite Banking concept so that you finance the main buying with your moment, check out the following guidelines to get your bank up and running: 

• A mutual insurance company gives dividends and has a good name for paying dividends on whole life insurance policies. 
• A person with high ratings from all the national rating companies. 
• One that gives policies that are non-direct recognition so that your dividends will not be impacted by policy loans. 
• The one that grants the grace to receive dividends as paid-up additions, creates additional mini-policies that will earn interest and dividends. When you do this it will help your bank to receive funds quickly. 
• Where you can buy a whole-life policy with 10 periodic premiums so that your cash value account will increase for you to borrow funds as soon as possible. 
• One that allows a cash value rider to your policy so that your designated beneficiaries will receive the death benefit PLUS the cash value of your life insurance policy. 

Best Insurance Companies For Infinite Banking 

As you know what Infinite Banking is about, it is time to select the whole life insurance company that fits your expectations in the future. 

Here are some of the best whole-life companies: 

• Mutual Trust 

Mutual Trust has various policies tailored to specific needs in the insurance market. Also, they value their ability to customize policies to use with infinite banking. 

Mutual Trust Horizon Value and Horizon Guarantee are choices for those who want permanent coverage with a focus on cash value.  accumulation. 

Moreover, these policies focus on those seeking early cash value growth. Business uses include buy/sell funding protection, executive bonus programs and deferred compensation. 

• Ameritas Life Insurance 

Ameritas Life Insurance has many policy options that you can select from, all with diverse features and benefits. 

Also, you can tailor your policy to meet your needs and even add on additional riders to further customize your coverage. 

Moreover, it provides a secure financial foundation with permanent lifetime death benefit protection. 

The key features include a guaranteed death benefit that never decreases, guaranteed premiums and cash that grows at a guaranteed rest rate plus dividends. 

As they offer a safety net for policyholders. 

• National Life 

National Life offers a secure whole life that allows additional premiums to be paid up portions of the policy. 

The low required premium, strong death benefit and high cash value guarantee help the National Life to be an infinite banking leader. 

It caters to those seeking both cash-value accumulation and permanent coverage. 

• MassMutual 

MassMutual is one of the highest-rated life insurance companies in the United States. 

This bid a strong position and high customer satisfaction ratings which are positioned to be a leader in the life insurance industry. 

Moreover, the potential increases more than most of its competitors and strong customer satisfaction. 

The company gives various whole-life options. These policies can be designed to accommodate diverse financial goals and coverage needs. 

Infinite banking requires policies to be designed for high early cash value. 

READ MORE: Top 10 Best Infinite Banking Companies [High Cash Value Life Insurance

Infinite Banking Pros

Pros of using the infinite banking concept: 

• Tax Benefits

When structuring a whole life insurance policy correctly, you may enjoy tax-free growth and potentially tax-free distributions. 

• Guaranteed Return on Investment 

They offer a guaranteed return and avoid market volatility as you give a stable investment. 

• Liquidity

The policy cash value can be borrowed at your convenience time, offering liquidity but without a bank involved. 

• Continuous Earnings 

Your policy keeps on continuing to get more interest and dividends even when you take out a loan against it. 

READ MORE: Infinite Banking: Using Life Insurance as a Source of Liquidity

Conclusion 

All the life insurance above are the best excellent choices to fund your infinite banking plan, but you will need guidance.