Bank-owned life insurance policies (BOLIs) remain the preserve of banks, but now there’s a way to mimic its benefits using a specially engineered insurance policy. Let I Own My Bank show you how!
While you may think that banks have your best interests in mind, don’t you think they’d tell you to put your money in the same places they do? That’s the question that I Own My Bank seeks to answer in their latest video, which explains how you can use the same financial strategies that banks do to protect and grow your savings.
This time, the subject is BOLIs, a.k.a. bank-owned life insurance policies. You won’t hear about this powerful insurance product from your agent and for a good reason: it’s not available to common folk like us—but there’s a way to change all that with a little help from I Own My Bank.
Ready to take control of your finances? Visit https://www.iownmybank.com/bank-secrets for more information.
A BOLI refers to life insurance policies that banks purchase for their employees, particularly key executives such as vice presidents. The bank is the owner and beneficiary of these policies, meaning that when the insured individual passes away, the bank receives the death benefit.
According to I Own My Bank, banks invest in this type of insurance because as the policyholder, they stand to receive a sum that is many times higher than what the family of the deceased executive would be entitled to in death benefits.
“While bankers advise us to put money in stocks, annuities, and mutual funds, they go the other way and purchase BOLIs for their key executives, anticipating the massive payouts that these insurance products would bring,” a spokesperson for I Own My Bank said.
Sadly, no.
The insurance products sold to the public are vastly different from those available to financial institutions. So unless you own a bank yourself, there’s no way to purchase one for yourself.
In its video presentation, I Own My Bank reveals a strategy that will allow you to create a whole life insurance policy specially engineered to mimic the functions of a BOLI. This method is based on the principles put forward by pioneering economist Nelson Nash in the 1980s called infinite banking.
While infinite banking has been around for some time, it’s still a not-so-well-known system with plenty of moving parts to make it work. And this is where I Own My Bank can help with its unique approach that will let you take full advantage of the financial strategy.
If you’re bummed that BOLI is out of reach and you want to build something like it using a readily available insurance product, get in touch with the team behind I Own My Bank.
Watch the short video presented at https://www.iownmybank.com/bank-secrets to learn how.
