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While most people would like to become their own bankers, becoming your own banker may sound too good to be true. However, it is possible to build your own wealth by beginning your bank using life insurance. If you are wondering how you can make this a reality, keep reading.
How To Become Your Own Private Family Banker Using Life Insurance
Using your life insurance to start a private family bank is one sure way of achieving infinite banking. This concept works well if you design your entire life insurance policy correctly. This way, you can accumulate your cash value to the maximum. There are several features and life insurance policy techniques to allow you to have access to an over-fund throughout your entire life policy. You can optimize the following benefits to set up a bank of your own:
- Principal protection that guarantees you growth every year.
- A good growth rate.
- Advance access to your tax-free death benefits in case you become critically ill.
- Tax-exempt distributions and tax-sheltered growth.
- Creditor protection.
- Access to your equity at any given age.
- Tax-free death benefits that are over and above the…
