A man went in to business and failed several times. He had an idea and bought land in Anaheim, California. Broke, he borrowed money from his whole life insurance and turned the orange grove land in to what we call today as Disney Land.
If you don’t have whole life insurance, let me tell you how it works.
1) you pay a set dollar amount for premium either monthly , quarterly, annually.
2) you don’t pay for the rest of you life but only just a few years. Usually less than 10 years.
3) you get to choose your monthly premium rate
4) you will typically earn 6-12% or more in dividedns per year.
5) you can borrow money from your whole life insurance at anytime
6) and you pay it back on an undefined scheduled time frame. Basically when ever you want.
7) you don’t need good or bad credit
8 ) when you die who ever inherits the life insurance does not pay tax
9) the dividends you receive year over year are tax free
10) if you want to pocket the dividends and spend it, that too is tax free.
11) get sued in court or divorced, IRS comes to your house? They can’t touch your life insurance (depending on the state you signed your life insurance). Government can’t touch or take away your life insurance.
Read the book at the bottom of the page. It’s less than 100 pages.
If you need money and have a whole