Your Private Family Banker
Your Private Family Banker is the no-fluff guide to building your own family-controlled banking system using dividend-paying whole life insurance.
If you want to stop relying on traditional banks, control your family’s money, and build generational wealth, this podcast is your blueprint for becoming the banker for your family.
Each episode, we cover topics ranging from what Private Family Banking is, to how it compares with other options out there, to why it makes sense. We'll show you how to create uninterrupted cash flow, finance everything debt-free (cars, real estate, business, education), and build a family legacy that survives taxes, lawsuits, and market crashes — all while keeping full control in your hands, not the bank's.
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To learn more, you can go to our website at https://plginsurance.com/.
Your Private Family Banker
Complete Control
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5-ish Minute Private Family Banking Podcast.
Complete Control
Private Family banking is a long-term financial strategy. We teach people how to leverage a high cash value permanent life insurance policy to take control of their household finances and maintain control of their money.
In this episode, I continue to cover some of the benefits of using the Private Family Banking strategy. Specifically, I talk about the how Private Family Banking gives you control over your money instead of leaving it in the hands of the traditional banking systems.
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For more information or to set up a free consultation, go to our website and fill out our contact form.
https://plginsurance.com/
Hey everyone, Mike back here with another episode of the Five-ish Minute Private Family Banking Podcast. I'm going to continue to talk about some of the multitude of benefits that one can get by holding your money inside of a properly structured whole life insurance policy. One that is optimized for private family banking. So far, I've talked about what the structure looks like. You've heard this before, right? I've talked about how it provides you with a liquid pool of money, how it provides consistent growth over the long term, and how that growth is not impacted by market volatility. I discussed how this strategy provides protection in some cases against creditors and judgments. If you haven't listened to the previous episodes, please go back and check them out. In this episode, I'm going to talk about control. I spoke about control a few episodes ago when I showed you how that you can buy a car using private family banking. If you haven't listened to that episode, please go back and listen to that. It's a great example of how to practically use this strategy. Today I'm going to go through a number of different ways that the policy owner maintains control of his money through this strategy. First, ownership is everything. Ownership of the policy means that you are in control of every aspect of the policy. You control how much money you put into the policy through your premium payments. You control when, how much, and for how uh for what reason that you want to take out a policy loan. You control how quickly or how not quickly you pay the loan back. You control who the death benefit goes to. You control every aspect of the policy. Second, you get that continued growth while you use your money. If you are using a traditional banking system and you take out a loan, the money that you used actually loses value over time. If you save your money and then use the savings to make a purchase, you've liquidated your savings and your money stops growing. You've lost out on the interest that you could have earned. With private family banking, your money continues to grow while you use it, and this helps you maintain control of the growth of your money. You also maintain growth control of your money through privacy. If you borrow money from a traditional bank to purchase a car, you go through credit checks, you go through approvals. You're then on the hook for a required payment schedule that you can't alter. Whereas if you borrow from the insurance company through a policy loan, there are no questions about why you're using your money. There's no questions about when and how you're going to pay it back. You get access to your money without all the hassle, and you get control over when, how, and how much of the loan you ever pay back on your own terms. Finally, I'm going to continue to talk about the tax-free wealth transfer of the death benefit. Your family gets tax-free access to what often amounts to high six-figure or seven-figure sums of money tax-free. This gives generational control of your money. They can use the money to cover estate taxes, pay off debts, or in maybe the best case scenario, they can use the money to establish private family banks of their own. And that will compound the wealth transfer to their next generation. So you can see why these policies are so attractive to high net worth and high-income families who are looking for ways to maintain control of larger portions of their portfolios. Okay, we'll leave it there for now. Please like and subscribe, share this with a friend, leave a comment in a five star review if you can, and I'll see you next time. Until then,