How many policies did Nelson reportedly have?

Jayson LoweAscendant Financial

Infinite Banking in Canada - Pay Yourself Interest

16 Jan 2021 · 1 min

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1:07

A short YouTube video (creator: Jayson Lowe) in which Richard explains how the ‘pay yourself interest’ idea in participating whole-life insurance actually functions: interest on policy loans is paid to the life company and returned to the participating pool rather than literally to the policyholder. Richard advises that paying extra interest should be directed toward additional premium to grow policy values; otherwise no added value accrues. The clip includes an anecdote about a policyholder named Nelson who reportedly held 49 policies and opened new ones when he could "visualize" doing so.

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How do I get the interest back that I pay myself? I hear about that all the time. Well, you don't technically or exactly get the interest back that you pay yourself. The interest that is being paid is going to the life insurance company and it's going back to the pool for the greater pool of everyone that is voluntarily in free contract with one another. In this, this magical pool of participating whole life, the interest on the policy loans goes back to the life company and it benefits everybody. Now, if you pay extra or a higher payment or more interest, then ideally the objective. The objective is that you want that to go towards more premium. And if you do more premium, then your values increase. If you do not do more premium, well, then you don't see any extra value. So there's, there's strategic ways that you try to implement that process. That's how you create that environment. Which is interesting because at one time Nelson had 49 policies. I've asked him this before and I said, hey, Nelson, when did you know it was time to open up another policy? He says, richard, as soon as I could visualize doing so.
He's a character in that. Nelson.