Jayson Lowe explains how wealthy people keep money flowing through their own financial institutions instead of banks. He uses a $560,000 premium example to show how co-owning a life insurance company lets them control where that cash goes, rather than letting it flow out to external banks.
My premiums this year will be $560,000. All of that money would have been flowing through the books of someone else's bank. But who co owns the life insurance company? Say I do. Okay, where do you want your money to flow? If you and I co owned a Loblaws together, would we ever buy our food at Walmart? Of course not. We would want all that financial energy flowing back to our system.
