How To Borrow Against Your Life Insurance Policy

Рет қаралды 78,366

Күн бұрын

Learn how to leverage the cash inside your cash value whole life insurance policy.
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⏰ Timecodes ⏰
00:00 Introduction
00:27 What is Cash Value?
01:53 How To Access Cash
04:01 How Much Can You Borrow
07:09 When Can I Borrow?
08:28 How Do I Pay The Money Back?
11:51 How Often Can I Borrow?
13:43 Conclusion
About:
Did you know you can borrow money from your whole life insurance policy in the first year? We used our policy to pay off credit cards, buy a car or invest in real estate. Yes, that’s possible! Check out this video for "How To Borrow Against Your Whole Life Insurance Policy (Most Effective Way)."

Пікірлер: 261

@WealthNation 2 ай бұрын

✍🏾 Are you ready to Start a Policy? Complete our new client application. bit.ly/WN-New-Client

@Eli-vb1ni 21 күн бұрын

Clear & Concise start to finish. I love direct information without the fluff

@crafty7522 Жыл бұрын

Great video! Thanks for the info.

@lifelivinginthedreams9104 6 ай бұрын

You two keep the explanation in a simple language to understand. Good job!

@angelicatrino2498 Жыл бұрын

What a thorough explanation

@recebaby88 8 ай бұрын

Thank you guys!!!

@Krthaspecialist 6 ай бұрын

Definition of a power couple Salute

@jwmoneymatters8928 4 ай бұрын

Thank you for sharing this video. Great information.

@KierrasWorld 7 ай бұрын

Looking into this and love it.

@KatarzynaZebrowska-fd6wx Жыл бұрын

thanks for breaking it down in such a clear way

@melmjetset1876 Жыл бұрын

thank u for this. listening on repeat to fully understand, i need to get on this

@sunflower5749 Жыл бұрын

Thanks!!! 💜💜💜

@antonzupic9005 Жыл бұрын

Clear and concise.

@sfsfuzzy3597 6 ай бұрын

You are a liarb

@NabilAmaruSC 3 ай бұрын

Great information thank you for explaining this

@Nk21759 11 ай бұрын

I’ve watched many videos trying to understand how this works. Y’all had the most clear explanation

@chikwonna06 10 ай бұрын

No other video I've ever watched gave me word for word detail like they did.

@sfsfuzzy3597 6 ай бұрын

So you don’t understand that the only money you can borrow is money that you gave them ? Why pay to borrow your own money? They give you a 5% return at best ! I put my money into mutual funds and the same amount invested in mutual funds grows at over 10% every year and doubled in 7 years! And it’s tax free too ! Just like in the insurance policy when you take money out you pay taxes but my east taxes are at lower rates of 15%. Not the 30% income tax rate!

@sfsfuzzy3597 6 ай бұрын

If they had paid off the debt instead of giving their money to a insurance scam they would not have had credit card debt

@Nk21759 6 ай бұрын

@@sfsfuzzy3597thanks for your comment. Personally I don’t have issues with credit card debt and invest in a number of ways…but if I have to pay for life insurance anyway, I’d like to know all the options. This is just one way to start learning about it.

@teewin9583 6 ай бұрын

I can agree with that I was thinking the same thing. This was a good video.

@luismartines2471 11 ай бұрын

Thank you guys 🙏 God bless you!

@sfsfuzzy3597 6 ай бұрын

God is not going to help them ! They are frauds cheating people and lying

@deteriorate1 6 ай бұрын

im new to this in is video really make me understand 😊 ty

@christopherdeberry8736 6 ай бұрын

This is exactly what I was looking for. Thank you for this video!

@sfsfuzzy3597 6 ай бұрын

You must be an idiot ! I’ll give you a better deal! Give me a hundred grand and then pay me for life insurance and I’ll loan you a portion of your money back for a feee ! Heck yes ! The fact is whole life is not tax free it’s just that you have no growth and if do get growth you can’t have it they keep your money! If you ever take the money out you pay taxes and not lower capital gains but at the invite rate of at least 28%

@thelananicole11 2 ай бұрын

Very informative!! Subscribed 🎉

@markf.2050 Ай бұрын

Beware. Their advice is not in your best interest but theirs. They stand to get huge commissions and the insurance company will collect huge fees if you end up buying a policy from them or any whole life salesman. 80% of policy holders end up surrendering their policies early when they realize what they actually bought and decide to cut their loses.

@wanglee21 3 ай бұрын

$120k credit card dept. Wow that's a lot!

@xzavierparker8244 8 ай бұрын

Great Job guys

@qualityflips8678 11 ай бұрын

Loked and subscribed. You two are perfect. Thank you for the great advice.

@daneen8869 Жыл бұрын

Love you guys and appreciate the info you’ve shared on this. My mom and I each have a whole life policy and after listening to you, we have been able to borrow from the policies. Thank you so much!

@markeshabailey1922 10 ай бұрын

hello what company are you with did you have to be with them more then a year to borrow?

@AnthonyParrisAntLyve 6 ай бұрын

I’m about start Whole Life Insurance after watching this

@sfsfuzzy3597 6 ай бұрын

@@markeshabailey1922 yes you can never borrow more than you have the extra ! Not what paid for the insurance but all the money over the cost of insurance! That’s all you can borrow is your money ! Now how is that a good thing? I got term life insurance and invested the rest and after 20 years I have no need for life insurance! I have more than 1.6 million dollars just from the same money that you want to pay them to loan you of your own money! My money made 25% so far just this year ! In one year my money made more than you will get in twenty years giving your money to them

@sfsfuzzy3597 6 ай бұрын

@@AnthonyParrisAntLyve you must be really ignorant at math

@brandonanej8639 11 ай бұрын

Thank God i found you guys thank you for ur knowledge 🙏🏾

@2k7Bertram 5 ай бұрын

Honestly sounds better to get a regular life insurance with minimum annual payment and save the rest. Dont understand why you want to pay interest on your own money. If i give the insurance 10k annually, they take all of it. But can lend me 60% of my own money back but i have to pay back with interest. Which means more money out of my pocket. Might as well i keep thtat 60% and find an insurance policy that takes the 40%. Amother thing is when you die, you have no idea how tf your money will be spent...i say spend it while your alive on the things you want

@FinancialLiteracy101byNoemi 8 ай бұрын

This is what I have been looking for! A layman’s video that covers living benefits, loans, withdrawal etc! You gained new subscriber here. I’m a new life insurance agent too! I’m glad I found your channel! Looking forward for more! ❤

@sfsfuzzy3597 6 ай бұрын

You are a fraud ! No one can be that damn stupid

@carolinaestrella255 Жыл бұрын

I love you guys video It’s GREAT information I would see TikToks about this & wouldn’t believe it but now I see how it works. Great way to get financially stabled 👌 I have a couple of question I wonder if you could help. you have to be a citizen or is ok if your a resident?

@CocoChanelle-1 7 ай бұрын

Check the rate against your credit union. Sometimes the credit union has a better personal loan rate.

@rags12rich 5 ай бұрын

I was going to have mine set by another company but the way you both break it down i will be contacting your company thanks for breaking it all the way down.

@WealthNation 5 ай бұрын

We’d love to support you 😎

@andrewbaldacci2324 10 ай бұрын

Whole life is the payday lender of the middle class.

@andrer1337 11 ай бұрын

Love it

@kingsadaris Жыл бұрын

Great video!

@poloblack1273 7 ай бұрын

I’m bout to look for ah million dollar life insurance policy. Ima see how much it costs with y’all at wealth nation

@ninacaine794 7 ай бұрын

Thanks for explaining so well

@terrell6110 7 ай бұрын

Thank you guys! Been looking for a video where this is broken down for me

@LL-tv9xc Жыл бұрын

This video will answer a lot of questions about infinite banking. Thank you.

@KyleZerotoHero 10 ай бұрын

How do you guys use the life insurance to DCA into stocks? Do you constantly borrow month over month to put into stocks?

@rommynine 9 ай бұрын

Yeah but don’t forget money spent on premium life insurance are taxable.( not deductible) If you don’t pay you self as a corp employee.

@na27000 10 ай бұрын

In the long run term life insurance is better.

@ednmic Жыл бұрын

Awesome stuff guys, as usual!

@Lostroad100 10 ай бұрын

How about other types of life insurance policies??? There is a lot of misinformation about getting loans from LIP.

@nathanjohnson1298 5 ай бұрын

Question is: T min 7:32 you say that if I pay my annual premium then I can borrow against it.. Well why would I borrow against anything if I had the money in the first place to pay that kind of premium?...Inquisitively.

@Vakaboncitesoleil 4 ай бұрын

Hello, when you talk about paying your premium. Is that your monthly payment on the life insurance or that 10k per year? So from what I understand is that in order for me to borrow that 60% which is 6k, I have to put in 10k in premiums for that year? Could you please advise? Thank you.

@ALL_IN_AMC Жыл бұрын

How fast can you get the money if you have cash value on your policy?

@user-mg4fk2zx6r 3 ай бұрын

I just came across your UT videos. Great info. I do have a question. I do have a New York whole life insurance policy. I had it a couple of years. My police is over 5K with a cash value of $586.00. I just started a Real Estate investment business. I buy tax delinquent residential vacant lots/land and I flip them. I need about $1000 to purchase a small peace of lot/land I have my eyes on. would I be able to borrow $1000 if my cash value is $586?

@Tourettes6 6 ай бұрын

@wealthnation are there any insurance companies that you guys suggest ?

@BeatKiller81 9 ай бұрын

Four percent interest? At what rate would my cash value grow throughout that year?

@pabloray2562 Ай бұрын

You can only borrow up to the amount you've already paid in premiums,,,so if you paid 2 months of premiums of $50 then you can only take out $200

@cdb122980 3 ай бұрын

What if you have a term policy that you wanted to convert to a whole life policy and you throw $$$ into turning it into a whole life policy would that be wise?

@Jeppm 4 ай бұрын

Does the loan payments count as part of the annual premium paid or PUAs?

@joshuaavila-do2nz 7 ай бұрын

So my question is something caught my ears , are you guys agents that will help design my policy ?

@Shesuperchic 5 ай бұрын

Great video!! Could you point me in the direction of an agent that can help me get started with this insurance?

@Dmack74 Жыл бұрын

I borrowed from mine to invest in the stock market.Not really sure if it was a smart move but.

@Life-so3wx 11 ай бұрын

Start a business

@paulastephens2125 11 ай бұрын

You can buy insurance and get a greater return by investing in a totally separate account. Dividends and capital gains are how you grow your money.

@famouszack 10 ай бұрын

But it takes like 4 years to Accumulate funds man ❤ lets goo

@joshuahernandez5180 19 күн бұрын

If I work for a company that offers life insurance and I've been paying on it for x amount of years, can I use the life insurance from the company that I've been working for?

@kyrstiecash718 11 ай бұрын

How can I set up a meeting with you guys to see if you guys can help with me getting a whole life insurance with Wealth Nation?

@KFMServices 2 ай бұрын

How long do you have to wait before you are able to cash out of your account ?

@mysouthernbellebean 10 ай бұрын

How do I know if this option is available to me?

@StacyannReid-fy4fu 8 ай бұрын

Why pay back “as a loan” with “interest” if it’s my money?

@Elegan_te 4 ай бұрын

because you are borrowing money from the insurance company (not your own money), against your own money (collateral). so, you will have to pay interest on the money you borrow from them.

@Marksman791 16 күн бұрын

@@Elegan_te consumer laws iykyk

@ReggieRorick 17 күн бұрын

so if you pay the premium is it still $6,000 or is it more ? Can you elaborate more.

@chrisvinson9579 Жыл бұрын

Do you have to pay it back

@dajuan11a Ай бұрын

What r the name of the insurance to go with to do this

@PowerhousePearson Ай бұрын

Is this the same in the U.K ?

@smokenojoke8182 10 күн бұрын

She said you have to pay back the money you borrowed. Someone told me they have a whole life policy they don’t need to pay back. They said if they don’t pay the loan back, the policy won’t be as valuable when it’s distributed to their beneficiaries. Are there actual policies like this?

@kingrobthegreat7446 Жыл бұрын

how many times can you borrow on whole life insurance policy?

@MysterE95 Жыл бұрын

Can you withdraw your cash value at any time?

@chrisvinson9579 Жыл бұрын

how much can you take out of whole life cash

@RG-mi2wj 2 ай бұрын

It’s cheaper to use a 0% credit card for one year, than pay insurance company interest It’s cheaper to buy a car and get bank loan 2.5% than to pay 8% to insurance or even 5%

@martinquevedo2844 10 ай бұрын

Does taking out a lone on ur life insurance help ur credit?

@yajamalu4u 5 ай бұрын

Si, you can do this with your 401k too??

@CharlieBais Жыл бұрын

Is this applicable only in the USA???????????????????????????????

@donyemonroe4577 11 ай бұрын

Whats your link for a policy

@brianmason5500 8 ай бұрын

Carmen, if you are Canadian you CAN drive a Camry in a snowstorm.😂

@yelawolfpackheidielliott7112 11 ай бұрын

Do have to make payments to pay it back?

@oddboyvex1412 9 ай бұрын

the part that confuses me is can you only borrow form what you put in?

@jkbzz 5 ай бұрын

EXACTLY!!!!!!!

@juanvsreviews 6 ай бұрын

But you also need to tell your audience that you have to BUILD the cash account after YEARS of paying this. A lot of people are under the impression that you buy the policy and they can access these funds. Very misleading.

@wildnsavage3389 3 ай бұрын

Whats the process ? Or how do you build

@Ryan_Shields 3 ай бұрын

@juanvsreviews Watch the whole video they explain it takes a couple of years to build ACV depending on the policy.

@jameslabranche2778 2 ай бұрын

They said accumulating of cash that’s built up

@tellitallnow3914 Ай бұрын

How do you pay the loan back?

@kmh0902 Ай бұрын

Correct this is insurance games and folks do not get rich off this. It costs folks more than just investing and growing assets.

@carlossalinas2454 11 ай бұрын

Hello ! Great video. I wanted to know if you guys could help me with the type of loan. Fixed loan vs standard loan vs variable loan. Which one is good? Thank you

@chrisvinson9579 Жыл бұрын

Is it true you don't have b to pay it back. Take it from your benefits they will match ur intrest.

@aquariusschoolforkids8717 15 күн бұрын

When you said "the difference that we earned in interest we were able to keep"...13:40 I didn't understand. Can someone re-explain? Thanks.

@WealthNation 15 күн бұрын

Sure! Let’s say I use a credit card at 20% interest. I borrow from the insurance company at 5% simple interest to pay off the credit card. I paid the debt with the money borrowed from the insurance company but maintain minimum payments for the credit card back to my system, the difference is 20% min credit card payment - 5% insurance company. The difference equals 15% back to my system because I was already prepared to pay back the credit card company with the monthly minimum payments

@timewtell9239 4 ай бұрын

How do I get started

@xavierjohnigan5718 10 ай бұрын

Which company to go to?

@lindam.1058 Жыл бұрын

So this doesn't work for a 10 year policy?

@RG-mi2wj 2 ай бұрын

Yes 4% growth Pay cash back Pay them, not you - 8% interest on that cash money value “your money” I have one, but had only 27,000, my car cost $45,000 So bought car from Ford at 0% interest rate

@user-fg9vn8wx4r Жыл бұрын

So, in other words it is a high interest rate rainy day savings fund

@jerrellunderwood6646 11 ай бұрын

Can you all get up to 85% annually in cash value?

@FreeSmokeEA 3 ай бұрын

Can you borrow more then what you put in?

@user-mg4fk2zx6r 3 ай бұрын

Hi, it's me again. I would like to have a wholesale policy that i can borrow at least $2000 in just a few months of owning the policy to invest in my Real Estate investment business. is that possible?

@memoirs.of.a.geishy 9 ай бұрын

This is a good topic. If you would want to know more about financial planning, feel-free to connect with me.

@sarojthapa6566 15 күн бұрын

But it is not true that all policy loans work like that. I mean, if my policy has a participating loan option to choose then it works as you are saying otherwise it wont.

@Coasterdog Ай бұрын

These policies typically have 8% interest rates. Much higher than mortgage rates or auto loan rates. You better have a high yield investment to use this method. Also, the break even periods on these is typically 10-15 years. You may have some cash value up till then, but wayyyyy less than you paid in. The agents are making lots of money from you for those first 10-15 years

@WealthNation Ай бұрын

My current interest rate is 4.89% simple interest annually.

@timewtell9239 4 ай бұрын

I only have $12000 debt and how can I get this?

@mybeautifullife9333 6 ай бұрын

How long do you have to have the policy before you can start borrowing

@begin5277 5 ай бұрын

Years

@sylviasandy 4 ай бұрын

@@begin5277I borrowed mine after 30 days of getting the policy. It depends on how it's structured and how much you put in.

@tankercrewchief 2 ай бұрын

For me using Guardian Life, it was almost immediately

@sylviasandy 2 ай бұрын

@@tankercrewchief me too. I was able to borrow after 30 days of having my policy. This depends on the agent. He/she must be knowledgeable enough to structure it well for the client.

@timewtell9239 4 ай бұрын

It cost 149.00 to get insurance through you?

@lawrencejames9023 3 ай бұрын

How can I get up with you guys!!!!

@nickalfonso4122 7 ай бұрын

I just called 3 insurance companies. They all said it would be close to 10 years before borrowing no matter what. Something’s wrong

@sylviasandy 4 ай бұрын

Talk to an agent that can structure it well for you so you can borrow it quickly. I borrowed mine after 30 days of getting the policy. It was whole life.

@carlajohnson223 3 ай бұрын

I'm agent and you can't access the money in 30 days. It takes couple years to build. We have stop lying to people. You have to put a lot money in order to build at levels in video or purchase IUL. I'll be glad to help.

@sylviasandy 3 ай бұрын

@@carlajohnson223 Well, you might want to step up your knowledge base because I'm sharing from my own experience. Most agents are clueless on how to properly structure cash value whole life.

@kunosipolk5689 2 ай бұрын

This is what I'm looking for!@@sylviasandy

@bassgroove3861 27 күн бұрын

Its all very wrong

@chrisvinson9579 Жыл бұрын

if you have 100.000 in bank. Can you barrow 100.000 from bank.

@EmadKhalek31 8 ай бұрын

I'm confused, can someone please explain - I thought when you withdrew the CV, it was tax-free? But this is saying you're subject to taxes on your withdrawals?

@bismarkampofo1652 6 ай бұрын

Let assume you have contributed 50K to date and cash value accumulated is 70K. 90% Liquidity is 63k accessibility. If you withdraw 50k, there be no taxes. However, any amount withdraw over 50K is taxable. In other words, you can withdraw up to what you have contributed tax free and amount you withdraw after that is subject taxes

@kiafitz3663 11 ай бұрын

Can you tell me what company you have the life insurance through and how much is your premium?

@JacobMakesWaves 10 ай бұрын

great video! i am curious on your thoughts on this "Although the rates may be favorable, you still pay interest on life insurance loans. And because the interest is often subtracted from the cash value, it can sneak up on you. If your loan plus interest exceeds your policy's cash value, the policy could lapse." basically loan interest value overtaking the compounded value added? does this mean there is a sweet spot on how much you deposit and how much you should take out on a loan (considering the interest rates?)

@TnavresGaming 9 ай бұрын

These Cash Value Whole Life Policies continue to compound interest taxfree regardless of any loans, which is written against the policy as collateral.

@timc1091 8 ай бұрын

@@TnavresGaming❤

@bismarkampofo1652 6 ай бұрын

The interest is not subtracted from the cash value. It compounds if you do not payback at end of the year. it is lot to explain in text. The insurance company will not take interest from your cash value. You're in control of when you pay back the loan. However, if you do not make the interest payment, it will be added to the loan balance at end of the year (compounding on your).

@dreemfactorymusicgroup3654 11 ай бұрын

One question? If I start a whole life insurance policy. Let’s say 1,000,000 and I pay the premium upfront (10,000). How much can I borrow for real estate purchase. Let’s say 500,000. When can I pull the funds

@lyricuniversity4745 11 ай бұрын

I have this same question

@inspirepartners370 9 ай бұрын

OMG, if ever, it would be decades before your cash value would be at that level! Keep in mind, the policy is designed to "endow" at either age 100 or 120 depending on when it was issued. So probably a little over have way from the time of issue before you get to that level of CV.