Infinite Banking Concept: Using Life Insurance To Become Your Own Bank

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By becoming your own banker, you create cash value while using tax-free loans from your policy as capital for further investment opportunities.

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Basics of the Infinite Banking Concept

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Infinite banking allows you to become your own bank by borrowing against the cash value of a permanent life insurance policy.

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Infinite banking is the OG of the Buy-Borrow-Die strategy with some tweaks. With infinite banking, your investments are inside the life insurance policy, allowing you to borrow against it without significant tax consequences.

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Insurance Policies Suitable for Infinite Banking

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A life insurance policy aims to pay out a set amount of money to your beneficiaries in the event of your death. There are many life insurance policies; the two most common are term and whole life insurance.

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