30 May What are the advantages of becoming your own banker?
Posted at 18:02h in
Some advantages include:
- Control: You have control over your own banking system, eliminating the need to rely on traditional banks.
- Tax advantages: Policy loans are typically tax-free, allowing you to access cash without triggering taxable events.
- Growth potential: The cash value within the policy continually grows over time, providing you with a stable financial foundation.
- Asset protection: In many jurisdictions, life insurance policies enjoy legal protection from creditors, offering an added layer of asset protection.