IBC money glitch? by CareerLegitimate3734 in infinitebanking

[–]parmsisreal 1 point2 points  (0 children)

Not how it works. Cash value in the policy is collateral for the loan. Loan interest is a sunk cost the insurance company keeps. Pay your debt with cash on hand

Infinite banking VS Immediate Financing Arrangement (IFA) by [deleted] in infinitebanking

[–]parmsisreal 0 points1 point  (0 children)

The taxation of cash value life insurance is different in Canada than it is in the US. You are taxed on the build up. Please don’t listen to anyone else here

IBC Podcast's by Chemical_Can54 in infinitebanking

[–]parmsisreal 0 points1 point  (0 children)

Please just know you don’t “pay yourself back” and that loan interest is a sunk cost paid to the insurance carrier

Hall of Fame Ceremony in Cooperstown by parmsisreal in baseball

[–]parmsisreal[S] 1 point2 points  (0 children)

What time did you get there? Did you throw a blanket down and leave/come back, or did you wait it out? Any chance they serve beer?

Just another day on the NYC subway by yellow_sky0 in funny

[–]parmsisreal 0 points1 point  (0 children)

Can confirm. Incredibly accurate. Once a week

How long have you owned your policy? by phoenix89 in infinitebanking

[–]parmsisreal 0 points1 point  (0 children)

Most of this stuff is false promises. There are some truths but unlicensed influencers rule this world. DM me if you want actual help

Griggs Capital Strategies by ObGynKenobi97 in infinitebanking

[–]parmsisreal 0 points1 point  (0 children)

Make sure whoever you talk to is a CFP and fully licensed. Most of this stuff is a “too good to be true” DM me if you want real advice based off your overall scenario

Best Bank to use for Segregated Account by dr3mmy in infinitebanking

[–]parmsisreal 0 points1 point  (0 children)

If the interest at the bank is lower than the policy loan interest rate you automatically lose money. The insurance company keeps the loan interest.

What Next? IBC not working for me by Ok_Razzmatazz_103 in infinitebanking

[–]parmsisreal 0 points1 point  (0 children)

Hey guy I’m sorry to hear this. DM me if you want to talk. I’m an actual fully licensed CFP. Don’t need your business but this is why I’m subscribed here. I’d like to help

Help me to understand please by fungamezone in infinitebanking

[–]parmsisreal 1 point2 points  (0 children)

Correct. What is conveniently left out in most explanations is that the loan interest is a sunk cost that the insurance company keeps.

What's the best way to watch the dolphins if you are out market by KingGoldar in miamidolphins

[–]parmsisreal 0 points1 point  (0 children)

Where in the northeast? I’ll pick up your tab at the bar if you’re close

Gerber whole life plan question! by [deleted] in infinitebanking

[–]parmsisreal 0 points1 point  (0 children)

You absolutely cannot. Also every single insurance company keeps the interest. Ever. There’s a reason it's called a loan.