Episode 54: Premium Payment Flexibility and Answering the Question "Should I Pay Cash or Take a Policy Loan?"
Wealth Warehouse · The IBC Guys via Podcast Principles
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Show Notes
One of the most important aspects of IBC is paying premium - but many people ask, how often do I need to pay?
In this week’s episode, the guys are taking you through a more niche issue in IBC: payment frequency. Are you paying your premium quarterly? Monthly? Each year?
This decision can have affects downstream on your policies overall performance! The guys will take you through the different payment frequencies, the drawbacks, benefits and they’ll even clue you in to which you SHOULD be using!
Episode Highlights:
0:00 - Introduction
0:29 - Episode beginning
2:44 - Some listener questions
8:11 - Premium payment frequency
12:08 - Some other disadvantages to not paying annually
16:05 - Dividends and how they are affected by payments
18:20 - When can you make your decision for how often you’re going to pay
22:55 - Some other options to split up your premium payments
24:31 - Catch-up provisions, what happens when your policy lapses
29:29 - Difference between the base and PUA, modal payments
33:18 - The term “graduate”
34:11 - Episode wrap-up
Is IBC for you? Use this link to schedule and intro call with us:
https://calendly.com/dave-743/wealth-warehouse-intro-call
ABOUT YOUR HOSTS:
David Befort and Paul Fugere are the hosts of the Wealth Warehouse Podcast. David is the Founder/CEO of Max Performance Financial. He founded the company with the mission of educating people on the truths about money.
David's mission is to show you how you can control your own money, earn guarantees, grow it tax-free, and maintain penalty-free access to it to leverage for opportunities that will provide passive income for the rest of your life.
Paul, on the other hand, is an Active Duty U.S. Army officer who graduated from Norwich University in 2002 with a B.A. in History and again in 2012 with a MA in Diplomacy and International Terrorism. Paul met his wife Tammy at Norwich.
As a family, they enjoy boating, traveling, sports, hunting, automobiles, and are self-proclaimed food people.
Catch up with David and Paul, visit the links below!
Website:
https://infinitebanking.org/agents/Fugere494
https://infinitebanking.org/agents/Befort399
LinkedIn:
https://www.linkedin.com/in/david-a-befort-jr-09663972/
https://www.linkedin.com/in/paul-fugere-762021b0/
Email: