A speaker argues that insurance policies used in the Infinite Banking Concept would still work in a cashless society or if cash loses value, because insurers invest premiums into assets and are legally bound to honor their guarantees regardless of how currency changes.
With the value of cash diminishing worldwide, what happens to the value of the policies and the possibility of a cashless system being implemented world worldwide scale? Will this system or this process still work?
Absolutely. So the insurance carriers, at least the ones that we work with, they don't maintain.
You know, they don't have vaults with cash on hand. All of that money is being put to work, intangible assets. And so if currency changes, the medium of exchange changes, whatever that may be, then that tangible value is still there. And remember, the policy is a unilateral binding contract. So the insurance company assumes 100% of the risk to fulfill those legally binding contractual guarantees. And so, you know, it's important for us to focus on what we can control. And in this particular case.
Our money must reside somewhere. And so I'm not concerned at all if we move to a cashless society. The insurance company is not hoarding cash anyway, so that's not a concern to a participating policy owner.
