Paradigm Life, Infinite Banking, Whole Life Insurance

[Ben Rutkevitz]

Has anyone on this forum had experience with this company? Paradigm Life claims to use Whole Life Insurance Policies as a financial tool and since i trust this community, I am reaching out to get some referrals.

[George Carnicle]

Hi @Ben Rutkevitz

I read through the thread and I didn't see any feedback on Paradigm Life directly as you requested... :)

I haven't personally worked with anyone at Paradigm but I know that at least 2 of the agents are Authorized Infinite Banking practitioners and have friends who do business with them. I recommend that you listen to what they have to say, read the literature they recommend, do your research and then make your well informed decision if what they presented is good for you and your situation.

@Steve Kordish is right they shouldn't be calling the policy an investment. It's not... A whole life policy that is optimized for banking has a guaranteed death benefit and cash value you will be contractually entitled to if you keep up your end of the deal (pay your insurance premiums) As we all know an investment goes up and down in value depending on external factors. There is no guarantee of performance or even future value. Josh Dorkin does a great job of giving this disclaimer every time on the podcast.
@Derek Lacy made a great point! If they focus on the non guaranteed side of the policy illustration and promise you x% returns in the future you should definitely stay away from them. That definitely sounds like a scheme you should stay away from.

To help you in your endeavors here are some things you should be listening for:
- The insurance company they use should be a mutual company.
- They should be talking about whole life insurance not variable or universal life.
- The sample illustrations they work with using your information should accentuate the cash value instead of the death benefit.

I bought my first "infinite banking" policy in 12/2009 and this year will mark 6 years of using my policy to finance things in my life. Over the past few years I have used the money to pay for my honeymoon, finance investments, pay off unexpected medical bills and pay my property taxes all while having a permanent death benefit in place. I've enjoyed getting what I paid for and look forward to making that monthly payment because I know that it's going to be right there for when I want to make my next financial move. In my opinion a correctly setup whole life policy should be part of everyone's financial arsenal because of the security, flexibility, protection and freedom it provides.