Unlocking Wealth Secrets: Cracking the Code on Infinite Banking | 11 and a Half Questions Answered
Control and Compound with Darren Mitchell · Control and Compound Financial | BNV Media
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Show Notes
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On today's episode, Darren and Christina are answering your questions on all things infinite banking. We get a lot of questions from our audience across multiple platforms, and today we're answering the ones asked the most, 11 and a half of them to be exact! If you're interested in learning the ins and outs of infinite banking, tune in now!
Show notes:
00:00 - Introduction
00:55 - Is the death benefit taxable in Canada?
1:30 - What is the difference between the MEC (modified endowment contract) line and MTAR (maximum tax actuarial reserve) line?
2:40 - What is CSV (cash surrender value)?
3:10 - How do you borrow against life insurance?
4:15 - How do you find a qualified infinite banking concept advisor?
6:15 - What is a contingent beneficiary?
7:00 - Is a corporate owned life insurance policy taxable in Canada?
8:00 - Should I buy my house with my life insurance policy?
9:20 - What happens if I cancel my policy?
9:50 - What happens to my policy if I get divorced?
10:30 - Do I need to update my will and can I change my beneficiary?
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