You’ve heard of Dave Ramsey. So you probably know one thing he loves almost as much as cutting up credit cards is putting down whole life insurance.

Since he’s helped so many people learn how to budget, and how to get out of consumer debt, it can be easy to think he really knows everything he talks about. 

But when it comes to whole life insurance, that’s simply not the case.

In today’s episode I’ll prove it by tackling several complaints Dave gives against whole life so you can separate genuine concern from uninformed claims.

You’ll see that with the help of an IBC practitioner, whole life insurance is a wonderful asset. And you’ll notice how one’s attitude about whole life changes dramatically when you look at it as an asset instead of treating it like an investment.

Listen now!

Show highlights include:

• The “lump” mistake Dave Ramsey makes that muddies the water, making it hard for you to understand the benefits of whole life insurance. (1:05)
• Why whole life and universal life are not the same, and why universal life can jeopardize your coverage when you need it most. (3:20)
• An “outright false” argument about the early years of a whole life policy. Don’t let it scare you away from getting started. (4:23)
• The amazing shrinking death benefit. Why IBC shrinks the death penalty on purpose, and how it helps you save money in the long run. (6:14)
• Access Denied? Why you absolutely do not have to wait until you’re dead to access your policy’s full cash account. (7:04)
• How the process of “BYOB—Be Your Own Banker” can outperform conventional investments, if you are diligent about the process. (10:08)

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509

Infinite Banking Mastery

There are popular trends in the industry that concern me. Because they result in policies that look good on paper, but don’t deliver like the client expects, and can even produce a policy that becomes a dreaded Modified Endowment Contract (MEC).

So when I got the opportunity to talk to a senior insurance actuary about these trends, I took advantage of it! I asked my questions so I could know from a true insider whether my concerns were reasonable or unfounded.

In this episode I’m sharing what I learned. And I’m telling you in plain language why you should ignore hype and stick with established strategies that are proven to work, without having to fear your policy ever becomes a MEC.

Listen now!

Show highlights include:

• How overcompetitive agents could be setting up innocent clients for expensive tax bills. (1:51)
• “Illustration Illusion.” What to look for in an agent’s illustration so you don’t assume unnecessary risk of MEC. (3:30)
• Counterintuitive reason a higher base premium is good. And why a lower base premium could cost you in the long run. (3:45)
• What your Whole Life Insurance company could be overlooking that lets you MEC without warning. (5:16)
• Nelson Nash vs. Modern Developments. Is there a better way to do IBC, or does his original advice still hold up? (6:09)
• How a popular feature of IULs actually makes them more risky. (7:18)
• Why you should start a Whole Life policy with a premium at the top of your budget, instead of starting low. (9:53)
• Costly surprise IUL illustrations leave out that could jeopardize your income in retirement years. (11:46)

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509

Infinite Banking Mastery (infinitebankingnorthwest.com)

You can reach a point when you’re no longer required to keep funding your Whole Life policy. And so it’s easy to think you should stop as soon as that moment comes and put your money toward something else. 

But is that the best decision?

In this episode I’ll explain why even though everybody’s situation is unique, in most cases you shouldn’t plan to stop funding your policy any time soon.

I’ll also share when it does make sense, and what to do when that happens.

Listen now!

Show highlights include:

• Can the FDIC really protect you? Chilling facts about how ill-equipped the FDIC is for weathering a major bank crisis. (2:04)
• Simple perspective that permanently shifts your bad attitude about your insurance premium. (6:45)
• When it actually makes sense to stop funding your policy and why you’re probably not there yet. (8:35)
• Why the majority of IBC users shouldn’t stop funding their Whole Life after 10 or even 20 years. (9:48)

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509

Infinite Banking Mastery (infinitebankingnorthwest.com)

Whole Life Insurance is a key part of IBC, but it takes some money to get it going. Especially when you fund Paid Up Additions that boost what your policy can do for you.

And if your budget is tight, you might think you can’t possibly find those funds.

In this episode I’ll share nearly a dozen places to look. And unlike some who gloss over risk and fine details, I’ll tell you what to watch for so you don’t make a costly mistake.

Listen now!

Show highlights include:

• “Sideline Money”: Where you can look for idle funds that could be revving up your policy. (1:21)
• Why your money does more in a Whole Life Policy than it does sitting in your savings account at the bank. (2:05)
• How the Dodd-Frank Act changed the game for bank failures, and what it means for the next 2008-style bank crisis. (Hint: It won’t be the government bailing them out this time.) (2:40)
• Why compounding interest in your Whole Life Policy tops what your bank’s savings account can do, regardless how different the interest rates are. (3:23)
• The Great HELOC Debate. Why this once-popular move has fallen out of favor, and what to know if you’re thinking of leveraging your HELOC to help your IBC. (6:03)
• No-brainer reason an inherited IRA (from somebody other than your spouse) is an excellent candidate for use with Whole Life. (9:50)
• Why you shouldn’t be afraid to put your funds into Paid Up Additions instead of putting them somewhere else. (10:26)

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509

Infinite Banking Mastery (infinitebankingnorthwest.com)

You talked to an IBC practitioner and they showed you an illustration. Now you want to see another practitioner in hopes they can show you an even better one.

But should you pick your practitioner based on a better-looking illustration?

Today I’ll explain how illustrations can mislead you, and what to look for so you don’t run into big problems later. I’ll also share what’s most important to look for in an IBC practitioner.

Listen now!

Show highlights include:

• Why policy structure trumps cash value every time. (4:26)
• How access to the majority of premiums paid in the beginning years becomes a trap door to a possible tax pit. (4:48)
• “Dividend Debate.” The impact of risk tolerance on dividends, and what to consider before deciding based on projections. (8:00)
• What to look for in an IBC practitioner so you don’t get burned by misleading illustrations. (9:49)
• Are all IBC practitioners the same? What makes me different from most. (10:18)

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509Infinite Banking Mastery (infinitebankingnorthwest.com)

When you have extra cash available it’s easy to think applying it directly to a large balance–like a mortgage–is a good idea.

But in most cases there’s a better use for that money, even if it is strategically used in a different way to help you accomplish the same goal.

Recently a client came to me with a plan to pay down his mortgage, and left our meeting with a different idea. Once you listen to this episode I think you’ll see why. And you’ll know whether a similar strategy is the right approach for you too.

Listen now!

Show highlights include:

• How refinancing your mortgage keeps you broke. (1:41)
• Nelson Nash’s “interest secret.” Most people focus on the interest rate when they should be looking at this instead. (2:03)
• Focused on paying off your house early? Here’s when it makes sense, and when it doesn’t. (2:22)
• “Equity trap.” How paying down your mortgage to gain equity hamstrings your chance to build substantial wealth. (4:35)
• Does it really help your finances to borrow from your whole life policy? Real-world example shows the stunning difference. (9:09)

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509

Infinite Banking Mastery (infinitebankingnorthwest.com)

You’re no stranger to premiums, but you might not realize all the options you have for paying your Whole Life insurance premiums, and what difference they make to your Infinite Banking strategy.

In this episode I’ll explain your options, and the surprising flexibility, for paying your Whole Life premiums. 

I’ll also explain why you should still consider Whole Life if you don’t have much money, or your health isn’t as good as you’d like. 

Listen now!

Show highlights include:

• Payment Mode questions answered: What are they? What are your options? Do you have to stay with the same mode forever? All this and more explained. (1:04)
• Surprising way to pay your Base premium and Paid Up Additions premium. (2:12)
• How to move a lump sum into your policy without giving yourself a migraine. (2:35)
• Biggest reason to consistently fund your Paid Up Additions every year, even when your insurance company doesn’t require it. (5:15)
• How to “Build Your Policy Backwards” to optimize Whole Life insurance for Infinite Banking. (6:35)
• Didn’t get the health rating you expected? What to consider before you reject an insurance offer. (10:58) 

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509Infinite Banking Mastery (infinitebankingnorthwest.com)

People are living longer so it’s more important than ever to prepare for senior healthcare expenses. But that’s hard to do if you underestimate your need for care, or how expensive it can be.

That’s why, in this episode, I’m sharing insights and statistics to help you see how serious this is, and explain what options are out there so you can prepare for when you or a loved one need to pay for these services.

Listen now!

Show highlights include:

• Why now might be the best time to start Infinite Banking if you want to borrow against your Whole Life cash value in your golden years. (3:18)
• The two most important questions to ask yourself as you plan for old age. (4:19)
• What 10,000 Baby Boomers per day are teaching us about the widespread need for long term care. (5:38)
• Explosive growth of the 80+ demographic: Doubled in 30 years. Here’s how long until it doubles again, and what it means for healthcare costs. (5:49)
• Shocking reason American mothers spend more time caring for parents than their own children. (6:20)
• “Medicare Miscalculation” that could leave you or a loved one unable to get home health care when you need it most. (8:47)
• Your options for long term care insurance, and why anything is better than nothing. (9:44)

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509Infinite Banking Mastery (infinitebankingnorthwest.com)

When you’re trying to figure out how much life insurance coverage you should get, you might hear the term “Human Life Value.” But what does that mean?

If you’re not sure, then this is an episode for you. I’ll explain what it is and how it’s calculated. I’ll also explain different methods you can use to get an idea of how much life insurance coverage you actually need.

Listen now!

Show highlights include:

• How insurance companies calculate coverages for age groups. Examples from a real underwriting guide. (1:06)
• Why a homemaker should have life insurance, even if they don’t earn a nickel. (1:59)
• What “Human Life Value” actually means, and how it’s calculated. (3:57)
• The “10 Times” rule for estimating your life insurance need. It’s popular, but is it accurate? (4:29)
• How group life insurance could trick you into miscalculating your coverage needs. (5:36)
• Do you need life insurance if you’re wealthy and have lots of assets? Here’s why the answer is usually “Yes.” (10:09)

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509

Infinite Banking Mastery (infinitebankingnorthwest.com)

Some people protect their retirement savings from risk while they’re working, but don’t think about how to protect it after they retire.

But this is a mistake, because there are plenty of threats to your income during retirement. If you don’t think about them ahead of time, you could be vulnerable when you can least afford to be.

That’s why in today’s episode I’m sharing the most common threats to your future income. I’ll also help you see your options to protect yourself from these potential risks.

Listen now!

Show highlights include:

• Retirement “money myth” that tricks people into saving far less for retirement than they should. (1:22)
• Frustrating way tax brackets complicate retirement planning, especially if you plan well. (1:40)
• Biggest risks while saving for retirement, and after you’ve retired. (2:36)
• Why living longer complicates retirement, and how to keep the blessing of longevity from becoming a curse. (2:53)
• How to shield yourself from unexpected medical expenses that can bleed your savings dry. (4:48)
• Surprising “Triple Tax Advantages” of Health Savings Accounts. (8:27)
• How married couples can leverage Whole Life insurance to fight inflation in retirement. (10:15)
• Haven’t been saving for retirement? Here’s why to start today. (11:58)
• Why you should ignore the “Save 10%” rule, and what to do instead. (12:46)

Reach out to me:

[email protected]

https://www.linkedin.com/in/valerie-laroque-lacp-b569509Infinite Banking Mastery (infinitebankingnorthwest.com)