The Catch Up Provision of a Whole Life Insurance Policy


Manage episode 346842653 series 2926696
Зроблено John Montoya, John D. Perrings, John Montoya, and John D. Perrings і знайдено завдяки Player FM та нашій спільноті. Авторські права належать видавцю, а не Player FM, і аудіоматеріали транслюються безпосередньо з сервера видавця. Натисніть на кнопку Підписатися, щоб слідкувати за оновленнями в Player FM або скопіюйте і вставте посилання на канал до іншої програми для подкастів.

With so much economic uncertainty, sometimes it can be difficult to fund the things in your life that are important to you, including your IBC whole life insurance policy. However, there may be a way that you can make up for the lost ground.

The “Catch Up Provision” in the PUA rider of many whole life policies allows you to catch up with missed PUA premium from prior years. This is a critical feature with whole life insurance and, more broadly, Infinite Banking.

There are times when we need to roll with the punches and there will be times when funding an IBC whole life policy to the desired level may not be possible. With the catch up provision, we have options to minimize the lost opportunity cost of hard times.

Tune in to find out to learn more!

Episode Outline:

● (0:35) - Episode beginning

● (1:01) - How a catch-up provision works, the history of it and where it fits into your IBC policy

● (3:40) - “Taking over the banking function of your IBC policy”, how catch up provisions give you more flexibility

● (5:20) - “Where does the income go?”, catch up provisions give you flexibility and options

● (9:14) - “Should you prioritize maxing out your PUA rider, or repaying a loan?”

● (10:58) - Is there such a thing as a “correctly designed policy”?

● (13:52) - Common question: “Which company has the best PUA catch-up provision?”, how insurance companies update their products

About your hosts:

Hosts John Perrings and John Montoya are dedicated to spreading the word about Infinite Banking so you can discover for yourself how you and your loved ones can benefit with a virtual streamlined process that will take you from IBC novice to sharing the strategy with friends and family... even the skeptics!

John Montoya is the founder of JLM Wealth Strategies, began his career in financial services in 1998 and is both an Authorized IBC® and Bank on Yourself® professional licensed nationwide.

John Perrings started StackedLife Financial Strategies after a 20-year career in the startup world of Silicon Valley where he specialized in data center real estate, finance, and construction. John is an Authorized Infinite Banking® professional and works nationwide.

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