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How does it work?
This cash value acts like a savings account and emergency fund where the returns are guaranteed, grow tax-free and can be taken out tax free. You remove both stock market risk and tax risk that guarantees your money will be there for you when you retire. In addition, you can access all your money tax free. Permanent whole life insurance is the single best exemption in the tax code.
The Personal Bank offers safety, tax advantages, access to and control of your money (liquidity), tax-free retirement income and a death benefit providing security and peace of mind for your family while providing a tax-free legacy.
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Advantages of the Personal Bank
Stress free, safe investing.
Never worry again about what the stock market is doing or paying exorbitant advisory and brokerage fees that take over 50% of your return. Lock in a 5 to 6% tax-free return in a life insurance company that has been around for over 150 years, never failed and has always paid dividends.
Access to and control of your money (liquidity)
All of your cash value in your policy is available tax free to you for your purchases and investing at any time without worrying about the government or approval of the bank.
It is the only vehicle in our tax code where your money grows tax-free, provides a tax-free income and gives your family a tax free death benefit avoiding probate.
Tax-free retirement income.
Provides a guaranteed Tax-free retirement income. Because retirement plans are taxed at ordinary federal and state levels you could lose more than 40% of your return to the government. There are no government control or rules to access your money compared to a 401(k) or IRA such as a 59½ age penalty for early withdrawal or 70½ age rules for distribution. Your money is not locked up in any retirement plan and is available to you anytime for great investment opportunities.
Tax-free death benefit
Provides a tax-free death benefit to your family, giving them financial security and peace of mind while leaving them a tax-free legacy.
Most insurance agents are not aware of high cash value permanent whole life insurance and those that are do not offer it because they will take up to a 90% loss in their commissions. Find an agent that works with the best mutual insurance companies, understands that 10% of the premium must go to fund the life insurance policy and 90% goes to fund cash value and a small term rider. It must be designed in such a way not to exceed the IRS MEC limit ensuring that all access to money is tax free.