Jayson Lowe walks through borrowing against a permanent life insurance policy's cash value. With a $75,000 cash value, you can take a $50,000 policy loan to buy a car, and you set the repayment schedule yourself. The insurance company holds the policy as collateral, but you control when and how you pay it back.
And you're telling me that I control the repayment schedule of that policy loan and that my total cash value, $75,000, is going to continue rising daily while I'm driving the car? Hey, we're going to buy a vehicle. Okay, how much are we going to spend? $50,000. How much cash value do we have? $75,000. Can somebody please get in touch with the life insurance company and request a policy loan? Absolutely. Life insurance company says, you've got more than enough collateral. How would you like to receive the $50,000? Directly deposited into your account, or would you prefer that we mail you a check? Well, what about repayment? That's up to you. You're the policy owner. All that we do is administer the insurance contract. You own it. So you have the gold, you make the rules. I go deeper in a free training at learnwithjay.com, or just follow along and I'll keep it simple.
