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Everything You Need to Know About the Benefits of Infinite Banking
Having control over your finances and debt by using a financial strategy is called Infinite banking. It is like having your own bank. Studies show that a lot of American are paying a lot on interests in their credit cards, mortgages, student loans and car loans.
Regular financial planning is only focused saving on the a small part of income. On the other hand infinite banking will help you pay off debts and redirect your income. Knowing what is infinite banking will help you be free from finances. There are a number of consultants that help you have financial freedom. Living wealth helps you access your finances and help you have financial freedom. Check their site to know about the company and have financial freedom.
Here are the advantages of infinite banking:
A. Infinite banking has tax benefits
The death benefit of infinite banking is free of taxes. Its withdrawals are tax-free, policy loans are tax-free and tax-deferred growth. You cannot avail these benefits from other kinds of loans.
B. Infinite banking offers growth
Infinite banking provides growth. Your policy has a cash value and there are instances when you borrow more than you are supposed to, your policy will still have gain interest every year. The interest can still grow as long as your policy pays for dividends. This is one of the main benefits of infinite banking.
C. Infinite banking pays for dividends
There are times when mutual companies also manages policies. Mutual companies usually pay for the dividends.
D. Infinite banking protects your assets
Most life insurance policies are made to protect your money. Infinite banking can protect your assets from creditors.
E. Infinite banking allows you to liquidate your policy
Infinite banking gives you the chance liquidate your policies. You are allowed to check and access your policy when you need it. You are allowed to access your money when you need it. This is one of the main reasons why you should consider infinite banking.
F. Infinite banking offers freedom
Infinite banking gives you freedom, since you do not need to deal with different banks. This is one of the main reasons why you should consider infinite banking.
G. Infinite banking gives you control
Infinite banking allows you to have control over your own money. You can access your money anytime you want in case you have an emergency. You are allowed to check and access your policy when you need it. You can use your money if you need it.
There are a number of consultants that help you have financial freedom. Living wealth can help you manage and take control of your finances. You can check their website to know more about the company.