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Episode 29: Universal Life vs Whole Life For The Purposes of IBC
Description
Join David Befort and Paul Fugere on Episode 29 of the Wealth Warehouse!
In this week’s episode, the guys respond to a listener's question about universal life insurance vs. whole life insurance for IBC. Does IBC need to use whole life insurance? Is it the best fit for IBC?
Paul and Dave cover the pros and cons of universal vs. whole life, how it matches up with your goals and most importantly, how appropriate each is for the Infinite Banking Concept.
Episode Outline:
(2:05) - Open of the show, starting with a listener question
(5:25) - “It comes down to the way you think”
(10:08) - “It’s not about the return ON your money, it’s about the return OF your money”
(12:46) - The “chassis” of universal life, the risks involved and what takes people by surprise
(19:15) - “Why would I get universal life as opposed to simply investing in an index fund?”
(23:02) - Why you shouldn’t combine investing and insurance
(25:50) - IBC isn’t about the return on your money, it’s about guarantees
(32:12) - IBC isn’t a “this or that” strategy, getting past the investment paradigm
ABOUT YOUR HOSTS:
David Befort and Paul Fugere are the hosts of the Wealth Warehouse Podcast. David is the Founder/CEO of Max Performance Financial. He founded the company with the mission of educating people on the truths about money.
David's mission is to show you how you can control your own money, earn guarantees, grow it tax-free, and maintain penalty-free access to it to leverage for opportunities that will provide passive income for the rest of your life.
Paul, on the other hand, is an Active Duty U.S. Army officer who graduated from Norwich University in 2002 with a B.A. in History and again in 2012 with a MA in Diplomacy and International Terrorism. Paul met his wife Tammy at Norwich.
As a family, they enjoy boating, traveling, sports, hunting, automobiles, and are self-proclaimed food people.
Catch up with David and Paul, visit the links below!
Website:
https://infinitebanking.org/agents/Fugere494
https://infinitebanking.org/agents/Befort399
LinkedIn:
https://www.linkedin.com/in/david-a-befort-jr-09663972/
https://www.linkedin.com/in/paul-fugere-762021b0/
Email:
davidandpaul@theibcguys.com