E131: New IRS Rules Impacting IBC and How to Best Navigate Them
Dollars and Nonsense · Living Wealth
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Show Notes
This episode discusses the new changes to the IRS rules on designing life insurance policies and how those changes impact the infinite banking concept.
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Topics Discussed:
- Basics of IRS code as it relates to whole life insurance
- The goal of IBC
- Using is life insurance policies with mutual paying companies
- A brief history of life insurance
- The impact of Section 7702 of the Internal Revenue Code
- Understanding the modified endowment contract (i.e., MEC)
- What happened with a base guaranteed interest rate of 4%
- Cash values vs. death benefits
- The "big change is coming," marketing tactic tickling some ears
- Increasing the flexibility and consumer-friendly nature
Episode Resources:
* Gain access to our Beginner's Course now FREE to listeners of the podcast here now https://livingwealth.com/beatinflation/
* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/
* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/