My $olution To Health Care...And It's Very Profitable!
It's called "Permanent Life Insurance" and it's been around for over 200 years.
1. Make sure it's a mutually owned not stockholder owned company.
2. Put the money you'd normally spend on health insurance premiums into the life insurance policy.
3. If you're new to the world of finance go here and watch all of the videos. If you are already familiar with Infinite Banking then just scroll down on the right of the video player to the two videos titled "Permanent Insurance" and "Impact of Taxes".
http://www.freeinfinitebankingvideos.com/subscribe_video.php
4. I cancelled my $7,200 per year coverage.
5. I pay cash as I go.
6. I get 5 to 7% on my money in the life policy paid as an annual dividend. Growth is CONTRACTUALLY GUARANTEED. Not like a 401K or IRA. And dividends pile up with compounded dividend payments. TAX FREE.
7. I can take money from my policy as a loan. If I choose to I can pay myself interest as I repay the loan.That interest growth is also tax free growth.
8. The cash accumulates TAX FREE. The company has never missed a dividend payment in over 100 years.
9. The dividend is paid on the value in my policy just as if the loan was never taken. It's called un-recognized dividends. So even though I took money out, I still get the full dividend as if I had not borrowed.
10. Make sure your policy has a "paid-up-rider". This allows you to leverage additional value into the cash value FASTER by paying a smaller, additional premium.
11. You can take as many of these policies out on loved ones and as the phrase says, create an "Infinite Banking" system that you own and control.
12. When you pass away the whole thing goes to your beneficiaries, tax free. Any outstanding 'loans' against the policy are deducted from the cash value. Often the face value or death benefit exceeds the cash value if you've plowed money in over the years.
13. Cash that you "borrow" to use for any purpose is not considered income so it is not taxable.
14. The best part is there is NO GOVERNMENT INVOLVEMENT.
15. There is never any penalty for early disburments or unpaid loan balances.
16. When you retire you are not required to take a minimum annual retirement amount like an IRA or 401K. You can let it grow - TAX FREE or Take it and blow it - TAX FREE.
That's FREEDOM
I'm a little confused
How does this whole life policy protect you from big medical expenses like surgery or catastrophic illness?
If you have a minor heart attack, you're broke!
You sure you don't want a high deductible catastrophic policy and still pay cash using an HSA account
It depends on your age, income etc.
All I know is I keep betting $7,000 a year that I'm going to be sick. The insurance company is betting I won't. And they keep winning. It's a casino!
Even a high deductible policy premium goes up in smoke every year.
Anything I plow into my Permanent Life policy grows, with a contractually guaranteed dividend.
And its completely free of government involvement.
Now regarding your heart attack, the ER has to give you medical care. If you do have a MCI you have years to pay off the bills. They have to treat you.
You can stretch a hospital bill out a long time if you make regular payments. And they often negotiate or discount a regular payer's total bill. Now do you really want to add a $4,000 or $5,000 health insurance premium to your burden?
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"Is Anybody Out There?"
http://www.youtube.com/watch?v=fXaXV2OZmLw&eurl=http%3A%2F%2...
"GINO" = Government In Name Only
I have a high deductible
I have a high deductible plan with an HSA for me and my son. Our monthly premium is $120, and I can put $6000 a year into my HSA which is what my deductible is. My previous premium was over $350 a month. It's a win win for us. The HSA grows yearly, and we save a ton of money. I do also have a whole life account on my wife that earns a guaranteed 4% yearly. That's pretty good nowadays. However, I wouldn't dare be without my high deductible plan in case I developed cancer or the like.
You have a great rate. Is there any red tape on the HSA?
I was going to go that way but I liked the additional flexibity and unlimited growth on the permanent life. Especially the tax and paid up rider advantages.
I never researched the HSA route thoroughly.
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"Is Anybody Out There?"
http://www.youtube.com/watch?v=fXaXV2OZmLw&eurl=http%3A%2F%2...
"GINO" = Government In Name Only
There is a $25 yearly fee,
There is a $25 yearly fee, and I do have to keep a certain balance to get any real interest. But, I've got it set up with my credit union, so there's no big downside. It is only getting 1.25% right now, though. I simply pay my doctor bills with the debit card they gave me. Pretty easy. After $6000, all my expenses are covered 100%. Any money I don't use in a year carries over and continues building interest. Problem is, if Obama's plan passes, this will likely become illegal. My rates are low because I'm only 33 and my son is 4. If I was in better shape, my rates would actually be a little lower. I'm working on that!
That's not a bad deal
But I urge you to look into the Infinite Banking concept to build guaranteed wealth. It's the perfect retirement plan and wealth transfer vehicle.
I wish I was your age and knew what I know now. I was always told whole life was too expensive and tied up investment or growth money.
The joke is the mutual insurance plans like this had record dividends last year when 401K's and IRA's were tanking.
A mutually held insurance company is a group of like minded individuals who share a common purpose and want to very effectively EXCLUDE the government.
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"Is Anybody Out There?"
http://www.youtube.com/watch?v=fXaXV2OZmLw&eurl=http%3A%2F%2...
"GINO" = Government In Name Only
Yesterday 9-9-09 was my first occasion to go insurance free
This is what happened:
Went to my GP for a physical.
No $45 co-pay!
Cost me $60 total for the check up.
While I was there I asked about replacing my two monthly prescriptions with generics. Done deal.
Instead of paying two $50 montly co-pays ($100 total per month), I paid $24.00 complete! And it will go down to $8 per month total very soon.
And I had the satisfaction of knowing I won't have to pay $600 a month for insurance that gives me a chest pain everytime I have to deal with their bullshit coded red tape shit everytime I use health care.
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"Is Anybody Out There?"
http://www.youtube.com/watch?v=fXaXV2OZmLw&eurl=http%3A%2F%2...
"Everybody Wants To Go To Heaven. But Nobody Wants To Drive"
"GINO" = Government In Name Only