Round Table | Why Can I Not Put More Money into My Infinite Banking System?
Do you remember having a piggy bank when you were a kid? You would get excited as the money accumulated until you could no longer stuff more cash inside. The amount of money you could store in it was limited to how big your piggy bank was. So you’d have to buy another piggy bank. That’s basically the way life insurance works. The type of policy you have will determine the way your cash value accumulates over time. There are specific policies that allow you to put extra money into the system to increase your cash value. But keep in mind that there are limits to the amount of cash value you can accumulate in relation to your death benefit. For example, if you overfund your system, it might be deemed an investment, losing its tax advantages. Today’s conversation is a must-listen if you’re serious about leveraging your Infinite Banking System to achieve financial freedom.
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