Perspectives on IBC with Chris Tormey - Part 5: The Life Insurance Industry

Perennial Pride

For today’s episode of the series, Tom and Chris discuss various aspects of the life insurance industry and its relation to the Infinite Banking Concept. They highlight the difference between life insurance companies and stock companies, emphasizing that life insurance companies are owned by their policyholders while stock companies are owned by the public and more focused on short-term returns. This episode also touches on the role of life insurance as a wealth storage tool. Tune in to hear a better understanding of how a life insurance policy can benefit you in more ways than you thought possible!

Highlights 01:49 Understanding different varieties of how insurance companies are structured 04:50 Differences between public and mutual companies 09:09 Potential risks and implications of choosing different types of life insurance products 13:53 Designs that are shifting the risks to the policy owners 16:24 Changes in death benefit charges in different types of life insurance 20:45 The modified endowment contracts and the tax implications when utilized for the IBC 25:07 Importance of long-term thinking when considering moving money into life insurance policies

Episode Resources

• Connect with Tom Suvansri
• https://perennialpride.com/
• https://www.facebook.com/perennialpride/
• https://twitter.com/perennialpride
• https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
• Connect with Chris Tormey
• https://www.monecoadvisors.com/team/chris-tormey
• https://infinitebanking.org/agents/tormey653/

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