Is It Possible to Become Your Own Banker?

by Radhika Pawar creative content writer

You may have heard about individuals who would rather become their own banker. Or maybe you know one or two people who are into becoming your own banker strategy. Well, this may sound too good to be true, but many have transformed their lives immensely using their whole life insurance plans to achieve that.

No wonder, you will always come across promoters and life insurance agents referring to this benefit when talking about the essence of buying their policies. Of course, there are those telling the truth but others might be using this as the perfect opportunity to lure unsuspecting clients. That leaves one wondering, is it possible to become your own banker? Read on to learn more.

What is It All About?

Before going any further, you ought to be fully aware of what becoming your own banker is all about. To give you a tip of the iceberg, the infinite banking strategy entails putting your money precisely where the banks put their money and using it exactly like the banks use it. In short, you no longer give control and power to the banks, but rather take full control of everything. This way, there are no limitations on what to do in your quest of changing your life for the better.

Key Benefits of Becoming Your Own Banker

There are numerous benefits destined to come your way the moment you decide to use your whole life insurance for a financial system. First and foremost, you will enjoy guaranteed growth not forgetting principal protection each year. Keep in mind this is at a competitive growth that is way higher when compared to that of a traditional bank.

If this is not enough, you are entitled to tax exemptions and enjoy tax-sheltered growth. When the death benefit is paid out, it is also tax-free over and above your equity. No wonder becoming your own banker seems to be the way to go if you want to avoid the stress of dealing with traditional banks whenever you want to manage your finances wisely.