Jayson Lowe explains how to use policy loans to borrow from your own insurance policy instead of spending cash outright. You become a borrower to your own company, recycle your personal funds back into the business you co-own, and increase the company's assets and profit in the process.
Let's say I have the money here, obviously. Should I spend this money or should I use a policy loan? Well, I want to spend their money. I recycle the money through the system and they go, well, isn't that just make work? Why would I do that? It's subtle, and I know you get this already, but it's not just about the fact that I'm now using equitables money. I'm also becoming a customer, a borrower from my own company. And then I'm taking the money I worked for and I'm giving it back to the company that I now co own so that they have control of that volume of money. I can't illustrate the difference that that's going to make, but we know just by virtue of understanding how a business works, we're contributing to the profitability of that company.
