What is Bank On Yourself®?

What is Bank On Yourself?

Bank on Yourself®  is the creation of Pam Yellen and is a process of using whole life insurance as a means to finance major purchases.  The claims made by Bank on Yourself® suggest that following the program will unlock hidden wealth secrets employed by savvy investors and business people. But does it work? We get …

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Should You Borrow Against Your Life Insurance to Buy More Life Insurance?

Borrow Against Life Insurance to Buy More Life Insurance

I appreciate creativity.  When I first started selling life insurance, I spent hours studying the product.  Prodding it in various ways to see what it did.  When I happened upon a few tricks I could use to manipulate whole life insurance to produce more cash value, I figured I simply arrived at an understanding others …

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TEFRA DEFRA TAMRA: How Taxes Effect Life Insurance

life insurance policies have tax rules

Life insurance enjoys some unique tax benefits, but it also faces limits imposed by legislation we know as TEFRA DEFRA and TAMRA.  These pieces of legislation established specific guidelines as to what you can and cannot do with life insurance.

Each of these pieces of legislation creates rules that agents, policyholders, and people looking at whole life or indexed universal life insurance (or any UL product) should know.

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