Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Build Your Warehouse of Wealth 🤑💰

7 Oct 2023 · 1 min

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Richard Canfield walks through a life insurance strategy: pay multiple years of premiums upfront, then borrow against the policy to cover future premiums. He frames it as planning for when you expect a large windfall and need somewhere to put the money.

Chapters

So why not start up a new policy now and pay the annual premiums for four years or four or five years now, and then you can borrow from this policy to pay the premium due on it for the next 14 years. This will create a place to put windfall of money. You have a big outstanding policy loan. If you know you have a large anticipated windfall in the future, could you not then have a place to put that windfall at that point in time? So again, the purpose here isn't to make that immediate suggestion. It's about thinking through the question. What if. What if I had a bit more of a crystal ball and I could understand some, some reasonable things happening in our future?