Today, in part two of Tom's series with Chris Tormey, they dive into how IBC actually works and the benefit it has for managing finances. They explain how IBC gives people the opportunity to take control of the banking function in their lives and that whole life isn't just for income replacement but also serves as a means of building equity and legacy. Take a listen to learn more about how to leverage cash value during your lifetime.

Highlights 01:27 The misunderstandings around life insurance 02:08 Varieties of whole life versus term insurance 07:08 Benefits of whole life insurance 15:39 Difference between cash value and death benefit 20:41 Why life insurance companies allow policyholders to borrow against their policy 23:44 How loan repayments for a life insurance policy can be flexible 25:55 The downsides of withdrawal 31:49 The interest rates of loans from life insurance companies 33:49 How policyholders can borrow up to 95% of their cash value with life insurance loans

Episode Resources

• Connect with Tom Suvansri
• https://perennialpride.com/
• https://www.facebook.com/perennialpride/
• https://twitter.com/perennialpride
• https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
• Connect with Chris Tormey
• https://www.monecoadvisors.com/team/chris-tormey
• https://infinitebanking.org/agents/tormey653/

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