Short excerpt from a YouTube talk (Richard Canfield) arguing that the infinite banking concept—using dividend-paying whole life insurance from reputable mutual insurers—lets individuals build a tax-advantaged ‘warehouse of wealth’ they control, reducing dependence on government taxation and rules.
Chapters
When you think of the tool that's used to implement the infinite banking concept, you're dealing with a dividend paying life insurance contract, ideally from a reputable mutual company. You've got cash value that is growing daily, that is uninterrupted. You're in a tax advantaged contract. You control it. You're no longer a sitting duck in the government's game of what can we tax next? I tried to think through this logically. Okay, what are the specific issues? Why is the infinite banking concept. Why does it remain an advantage? The infinite banking concept? You get to build a warehouse of wealth that makes you less dependent on traditional, taxable, unpredictable government rules. You can't fight the government with complaints, but you can definitely build a system that makes you far less dependent.