Aug 17, 2023
Today, in part two of Tom’s series with Chris Tormey, they dive into how IBC actually works and the benefit it has for managing finances. They explain how IBC gives people the opportunity to take control of the banking function in their lives and that whole life isn’t just for income replacement but also serves as a means of building equity and legacy. Take a listen to learn more about how to leverage cash value during your lifetime.
Highlights
01:27 The misunderstandings around life insurance
02:08 Varieties of whole life versus term insurance
07:08 Benefits of whole life insurance
15:39 Difference between cash value and death benefit
20:41 Why life insurance companies allow policyholders to borrow
against their policy
23:44 How loan repayments for a life insurance policy can be
flexible
25:55 The downsides of withdrawal
31:49 The interest rates of loans from life insurance companies
33:49 How policyholders can borrow up to 95% of their cash value
with life insurance loans
Episode Resources
- Connect with Tom Suvansri
- https://perennialpride.com/
- https://www.facebook.com/perennialpride/
- https://twitter.com/perennialpride
- https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
- Connect with Chris Tormey
- https://www.monecoadvisors.com/team/chris-tormey
- https://infinitebanking.org/agents/tormey653/
Call to Action
Schedule a Call
with Tom
How to Listen:
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Spotify