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.
Listen in, subscribe and share it with your friends and family.
To learn more, you can go to our website at https://plginsurance.com/.
Your Private Family Banker
No Fees or Penalties!!
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5-ish Minute Private Family Banking Podcast.
No Fees or Penalties!!
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.
In this episode, continue our discussion about the benefits of holding your money inside of a properly structured whole life policy. In this episode we talk about the lack of fees and penalties when using the Private Family Banking Strategy.
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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 here, back with another episode of the Five-ish Minute Private Family Banking Podcast. We've been going through 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's optimized for private family banking. So far, we've talked about a lot of different things: what the structure looks like, how it provides you with a liquid pool of money, how it gives consistent growth over the long term, and how that growth is not impacted by market volatility. We've talked about how the strategy provides protection from creditors and judgments in some cases, how it provides an inflation-resistant way to store your money. And then last time we talked a little bit about the control that this strategy gives you relative to the traditional banking system. We're going to talk a lot more about that as we continue to go through different ways that you can use this strategy. If you haven't listened to those previous episodes, please go back and check them out. In this episode, I'm going to talk about the penalty-free and fee-free aspects of these policies. Fees that you might encounter in traditional banking, using credit cards, traditional loans, HELOCs, etc. First, let's talk about with regard to access. You can obviously access your own personal accounts without any fees. The benefit with private family banking comes with access to your money when you try to leverage that money. There's no credit checks, no verification of income, there's no credit score impact, and you know, with regard to fees, there's no uh origination fees or anything like that when you go to access your money. Second, when you do leverage that money inside of your private family banking policy, um, you will have interest accrue similar to a traditional loan, however, you can pause payments at any time, which you can't do with a traditional loan. And there's no penalties to do that. And you're also not going to incur any late fees when it comes to payments. Uh, you know, if you need to push back a payment on a policy loan by, you know, five, ten days or whatever to allow certain monies to move around where you need them to. Um, there's no fees or there's no penalties for doing that. Another example of how you can use the policy, and we're gonna go into this in much further detail down the road when we continue to talk about how you can use these policies. Um, but you can use this to supplement either income or retirement income at some point in your life. So uh to take a step further, you maybe you need short-term coverage for income that's lost due to maybe seasonal work or uh maybe to supplement uh income in order to pay for a large expense that you might have. If you have an IRA or 401k and you're younger than 59 and a half, you might very well incur some penalties for trying to access the money in order to help yourself out of whatever the current situation is. It's not so with private family banking. You get access to that without taking the hit. And again, that's just a high-level overview. We're gonna talk about that uh in further detail down the road whenever we get to it. So you can see how these policies can help you preserve the capital inside of your policy um by not giving any of it up when you try to access the cash. You don't get any of those penalties or late fees unnecessarily like you do with traditional banking systems. Okay, we'll leave it for there there for now. Please like and subscribe, share this with a friend, and until next time, I'll see you then. Out