Whole life Insurance and the Infinite Banking Concept

[Jabari Marshall]

I have been looking into Whole life insurance and Infinite banking and it seems very appealing.  From what i hear it can be very beneficial "If" the policy is set up correctly.  Has anyone out there got any whole life policies that they have set up for the purpose of being their own bank and/or using it to fund real estate investments?  The infinite banking concept was created decades ago by a man named Nelson Nash, and since then their have been many people that have followed suit.  Let me know what your experience has been for those of you who have participated in it or maybe know someone who has.

[Kendrick Thomas]

@Jabari Marshall

I have been funding several whole cash policies for over 4 years, following the Infinite Banking Concept. I've not yet used them to fund any real estate deals (I'm completely new to REI) but will be using them do to so in the next 6-8 months. If you choose to go that route, you really need to educate yourself on the IBC concept AND find the right insurance agent and company. You also need to have thick skin when you discuss it with others. :) It bucks the whole idea of government-qualified retirement plans (IRA, 401k, etc). Probably similar to when friends and family try to dissuade you from investing in real estate because they've heard of nightmare landlord stories.

IBC is a long term commitment. You will need to initially “fund it” for 4-7 years. You will need to repay policy loans.

I have read Nelson Nash’s book many times (it’s well worn from reading, highlighting, and taking notes). I learn more every time I read it.

If you’d like more of my insight into it, feel free to PM me. Good luck!