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

Irrevocable Trusts: IUL’s Fatal Flaw

20 Jan 2025 · 0 min

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Short excerpt from a video transcript arguing that irrevocable life insurance trusts (ILITs) cannot be used to illustrate policy loans back to the original owner because the trustee is neither owner nor beneficiary; emphasizes that 'irrevocable' prevents such loan arrangements.

I think they must all go to the same seminar where they teach them that first thing we're going to do is an irrevocable life insurance trust. They have a trustee who's not the owner or the beneficiary of the policy, but they're still illustrating down the line policy loans to the owner. Policy. But that's not how this works. But you haven't. It's called irrevocable for a reason. And illustrating policy loans back to someone who's not the trustee or the. Or the beneficiary of the trust.