Fact or Fiction

Breakaway Wealth Podcast

English - August 17, 2021 12:00 - 24 minutes - 33.3 MB - ★★★★★ - 48 ratings
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Previous Episode: Choosing the Right Insurance Company

Next Episode: Bob Burg - The Go Giver

In This Episode:

Jim Oliver and Nick Kosko discuss fallacies and common myths about Infinite Banking Concept.

MYTHS Discussed in this Episode:

All policy loan interest is no longer income tax deductible. The fixed loan rate on policies is 8%. Non-fluctuating, non-guaranteed variable loan rates used by some companies are dangerous. MEC restrictions on policies allow all withdrawals to become taxable. Companies are being sneaky by revising mortality tables to reach age 121. Estate planning and taxation have changed making life insurance banking concepts less effective and efficient.

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