Jayson Lowe explains what you need to deposit to start an infinite banking policy in Canada. The minimum depends on your age and how you design the policy, with typical monthly contributions ranging from a few hundred to several thousand dollars for families and children.
What is the minimum that I got to put in? That's super good question too. At the end of the day, it depends. It really depends on the individual, how old you are, what's the life insurance carry? Working with every policy that we design has a minimum amount and then an overfunding, you know, the maximum. What's the maximum limit that you can do? So I find that often when I'm doing policies for children, for families, they're usually between 100 to $300 a month. A lot of families will just take the child tax credit and they'll reposition it into this instead of wherever it was going before, you know, and we can do them less than that. But generally I find that I'm usually doing in that category. The more you put in, obviously, the more you get out larger deposits. In other words, if you have a bigger size program, there's kind of like a Costco bulk pricing version. You can get a better bang for your bucks. And that's always interesting to look at. The other thing is age. So depending on how long you're going to be doing it for what your future income might look like, we can plan some differently around that. You can't have something for nothing. You have to put money into it as the end result.
