The Concept of Infinite Banking
A powerful strategy that lets you become your own bank to grow wealth, access cash, and control your financial future—on your terms.
Permanent Insurance
As long as the necessary premiums are paid, protection is guaranteed for your entire life or to a specific age / maturity. Policy accumulates a cash value that grows on a tax-deferred basis that you can borrow against. Certain permanent life insurance policies can help you build wealth when you use it as a separate asset class in a diversified financial portfolio.
Term Insurance
Initially, premiums are generally lower than those for permanent insurance, allowing you to buy higher levels of coverage at a younger age when the need for protection often is greatest. However, premiums can increase as you age, and generally, the policy doesn’t offer cash value or paid-up insurance.
Final expense
Final expense insurance, also referred to as burial insurance, covers end-of-life expenses including funeral arrangements and any remaining medical or legal expenses that will need to be settled by your beneficiary.