Fact or Fiction
In This Episode:
Jim Oliver and Nick Kosko discuss fallacies and common myths about Infinite Banking Concept.
MYTHS Discussed in this Episode:
- All policy loan interest is no longer income tax deductible.
- The fixed loan rate on policies is 8%.
- Non-fluctuating, non-guaranteed variable loan rates used by some companies are dangerous.
- MEC restrictions on policies allow all withdrawals to become taxable.
- Companies are being sneaky by revising mortality tables to reach the age 121.
- Estate planning and taxation have changed, making life insurance banking concepts less effective and efficient.