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By Ed Hinerman on February 18, 2012
As promised I have been on a mission these past several months to prove the worth, or not, of the Infinite Banking system or the Be Your Own Banker concept, whichever title you subscribe to. I ordered and read my 5th edition “Becoming Your Own Banker” book by “Bestselling Author R Nelson Nash. I’ve actually ...read more
Posted in cash value, Infinite banking, insurance quotes, life insurance, whole life | Tagged afford to overfund, assuming dividends, assuming interest, becoming your own banker, dividend paying whole life insurance, dividend rates higher in 2000, fiscally disciplined, illustrations, indexed universal life, infinite banking, insurance, interest rates higher in 2000, life insurance, R Nelson Nash, slightly decaying assumptions, stresses your budget, today's financial climate, total assumed cash value, total guaranteed cash value, using assumptions, whole life insurance |
By Ed Hinerman on January 19, 2012
As a business person I have become accustomed to wanting to deduct everything I can. If there was a way to deduct the air that is used in my office every day I would be installing an air gauge. Life insurance benefits are income tax free which is like the 8th wonder of the world ...read more
Posted in business life insurance, buy/sell life insurance, Infinite banking, insurance, life insurance, whole life | Tagged business life insurance, CEO's, death benefit income tax free, Executive bonus plan, executives, fully tax deductible, infinite banking, insurance, key employees, life insurance, premium tax deductible as bonus, retirement, Section 162, selectivelly offered, supplement benefits, whole life
By Ed Hinerman on January 11, 2012
A few days ago another agent took offense to my obviously uneducated view that indexed universal life is a poor excuse for a life insurance product, especially in the context of infinite banking. He commented on a post by starting with “I’m sure your completely well-intentioned, but you ought to be more careful of publically ...read more
Posted in cash value, guarantee, indixed universal life, Infinite banking, insurance, life insurance | Tagged assumptions, budget, divident paying whole life insurance, guarantee the most cash value, guaranteed, illustration IUL and whole life comparison, indexed universal life, indexed universal life insurance, infinite banking, insurance, investments, IUL, life insurance, Primerica agent, retirement funds, whole life, wrong cash value product
By Ed Hinerman on December 12, 2011
I know that when I am shopping for something, for instance a car, I am very straight forward, even blunt, about what I want and how much I am willing to spend. I let the sales person know that it’s OK if they can’t meet my needs, but that changing anything I’ve told them is ...read more
Posted in business life insurance, Infinite banking, International Business insurance, term insurance | Tagged becoming your own banker, Dave Ramsey, David Stearns, deaf ear to budget, dividend paying whole life insurance, emotionally attached to the sale, emotionally detach from your goals, infinite banking, insurance, international business life insurance, life insurance, life insurance over 50, my budget, my budget was toast, term life insurance, viable for age 58, what I want |
By Ed Hinerman on December 7, 2011
Big giant disclaimer. We have found several highly rated US life insurance companies that will write foreign nationals living in the US and foreign nationals living outside the US. I have kept this fairly low key until I worked through a few cases, one in Jamaica, one in India and one in Bermuda. This isn’t ...read more
Posted in business life insurance, buy/sell life insurance, cancer, Foreign National Life Insurance, foreign nationals, Infinite banking, insurance, life insurance, whole life | Tagged attorneys, business ties to US, CEO's, company owners, executives, financial justification, foreign national life insurance, foreign nationals, high net worth individuals, highly rated US companies, infinite banking, insurable interest, insurance, international buy/sell life insurance, life insurance, multi national business insurance, physicians, professional athletes life insurance, professionals, reason for US policy, strong ties to the US, the process
By Ed Hinerman on December 3, 2011
I know. It even showed up in my local paper. “Ed Hinerman Says Whole Life Insurance Without Gagging”! Well, the reflex is still there but I have been fighting it while I investigate whether there is a place in my universe for dividend paying whole life insurance that funds “infinite banking”. Is there another over ...read more
Posted in Infinite banking, insurance, life settlements, over 50 life insurance, senior life insurance, whole life | Tagged 401K, 50's, 60's, Dave Ramsey, get out of debt, infinite banking, insurance, investing is cyclical, IRA, life insurance, love my job, mutual funds, no brainer, over 50 life insurance, stock market barometer of global economy, take ira penalty and tax hit, whole life insurance, your own bank |
By Ed Hinerman on November 18, 2011
I have been dancing around the “Be your own banker” concept for the last month or so after learning more about infinite banking. I finally figured out what I have never liked about whole life insurance. People use it for life insurance. Let me tell you a story about myself and my wife and how ...read more
Posted in Infinite banking, insurance, life insurance, whole life | Tagged cash value, create a retirement plan, divident paying whole life policy, get out of debt, houses mortgaged, infinite banking, insurance, life insurance, repaid myself, tax free, whole life insurance |
By Ed Hinerman on November 4, 2011
I confessed last week that I may have finally found something less than dreadful to say about whole life insurance. This day that no one ever saw coming, came through the back door a few weeks ago when I got a call asking specifically for a quote on a participating whole life insurance policy. I ...read more
Posted in Infinite banking, insurance, life insurance, term insurance, whole life | Tagged all 50 states, Colorado, dividends, excess cash, financial tool, financial vehicle, guaranteed cash value, impaired risk life insurance, infinite banking, insurance, Kate Gardner, life insurance, MEC, modified endowment contract, Nelson Nash, paid up additions, par whole life, participating whole life, short pay policy, whole life |
By Ed Hinerman on October 27, 2011
Having spent a good deal of my career steering folks away from whole life insurance I found it fascinating to be talking to a customer that came to me and told me exactly what she wanted to buy. She wanted to do the business through me and it was whole life insurance and she simply ...read more
Posted in cash value, foreign nationals, insurance, life insurance, term insurance, whole life | Tagged agent commission, Bermuda, dividends, foreign national, infinite banking, infinite banking candidates, infinite banking scam, insurance, life insurance, money it can save, paid up additions, participating whole life, whole life insurance |
