Is Whole Life Insurance a Scam?

If somebody says whole life insurance is a scam, then they would almost have to say the same thing about real estate. We say that you have control, you have restrictions and all. Critics might argue about having more control with other accounts. Here’s how we differentiate whole life insurance with our framework of certainty, control, efficiency, and liquidity:

• Multiple layers of protection such as death benefit, chronic illness rider, disability waiver, premium, and creditor protection against lawsuits in most states.
• The wealth is created through certainty, control, and efficiency, but this doesn’t happen without liquidity.

Welcome Nate Dean to the Better Wealth Show

Nate is known in our industry as the 'Infinite Banking' guy on Twitter and has been blocked by Dave Ramsey. Here's an insight into Nate Dean's journey:

• Married for 22 years with four kids living in S.E. Texas.
• Runs Unlimited Life Concepts (ULC) specializing in the Infinite Banking Concept.
• In 2017, after reading "Becoming Your Own Banker" by Nelson Nash, Nate had an epiphany about understanding how money works.

Experiencing Infinite Banking: A Reaction to Common Misunderstandings

Nate highlights the importance of understanding whole life insurance, its nuances, and his evolution of thought:

1. Initially believed policy loans were for everything; now views cash value as strongest dollars to leverage.
2. Importance of death benefit and its unique advantages in financial planning.

A strong dollar is about control. Managing and repaying policy loans strategically enhances wealth growth. However, arbitrarily leveraging policy loans without strategic intent may not deliver desired outcomes.

Concluding Thoughts

Nate and the team believe in using whole life insurance as an efficient tool for major purchases or investments with a clear return plan. This responsibly aligns with their philosophy of maximizing savings and leveraging strong dollars.

Join Our In-Person Mastermind Event

We're hosting an event on June 27th and 28th in Denver, CO, to connect financial professionals. Meet experts like Garrett Gunderson, Tom Wall, and many more. Visit andasset.com for more details and to register!