Denzel, another creator in the IBC space is Chris Naugle. He and his team have a lot of content on TH-cam about policy design and ways to fund and use WL and IBC. Thanks for all of your content. You inspired me to use velocity banking years ago when you started your channel.
As always great content, I'm looking forward to working this strategy. Hopefully I can reach out to you for assistance when the time comes. On another note, you gotta let us know where you get your shirts man. SHARP
What do you do if your of insurance sadly sometimes that happens people Have health problems and they can’t get written a policy what should someone do then if those don’t work
Depending on age sometimes final expense is the next option if one doesn’t qualify for life insurance. The other is annuity if one has capital to work with along with some long term care. Making sure the other partner is insured or other family members helps as well.
Annuity you can borrow from? I like that. Yes partner perfect suggestion. What is final expense is that like a way to fund an amount for final death expenses only and you can borrow from that as well?
@@shannonperez9408 the purpose of an annuity is to provide income for life guaranteed. The function of borrowing doesn’t exist in any annuity that isn’t what it’s used for. Final expense is referring to final costs of death to make sure there is something left for the individual that didn’t qualify for life insurance. Your question was about not qualifying for life insurance what do you do next. The next best thing in terms of protecting one’s life would be those options and I also mentioned long term care.
from velocity banking now also on the bandwagon of I B? Q: where is all the cash held? if we have money into IB what bank is holding the cash? certainly NOT the person that owns the paper into this insurance? where does all the cash go that people"save"?
Gets held with the insurance company which practices sound money lending. For every dollar of life insurance that is insured on an individual the insurance company has to have 1.03 in reserves in what’s a called a general account. There are also associations every state has that also provides additional protection for the people who have their money saved with life insurance. The insurance company established a contract between the insured and the insurer so yes the paper gives me ownership of my policy just like when I buy a house there is a piece of paper that says it’s mine. Just like when I open a bank account and there’s a price of paper that says it mine. Works the same with insurance it’s how the law works Unlike banks today when you save your money in a bank the bank practices fractional reserve lending which is why they can only insure up to 250k and another reason why you can’t just pull a bunch of money at once. There are limitations even tho it’s your money.
I have been watching you from the very beginning when you were in mom's house on the tiny white board. I appreciate the growth and honesty and that's why I contribute to the kingdom. An emergency came up so I missed the live event but I look forward to the continued growth.🙌🏾🎉
No There is always an agent involved in the process of purchasing whole life insurance. The insurance company uses licensed life insurance agents to distribute policies. So if you call a life insurance company there either not going to know what you are asking for or they will refer you to an agent that may or may not know about the strategy. Good question
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Denzel, another creator in the IBC space is Chris Naugle. He and his team have a lot of content on TH-cam about policy design and ways to fund and use WL and IBC. Thanks for all of your content. You inspired me to use velocity banking years ago when you started your channel.
I heard you on the Wealth Wisdom Financial podcast. I'm excited to watch more of your videos!
Thank you for going into these issues!! It really helps us newbies!!!!!
Blessings from Tx
Beautifully said
As always great content, I'm looking forward to working this strategy. Hopefully I can reach out to you for assistance when the time comes. On another note, you gotta let us know where you get your shirts man. SHARP
It’s called Buttercloth :) reach out when you are ready to talk
Thanks for the content! How can we access your case designs/case studies ?
I have multiple playlist for different case studies all categorized on this channel all public. Any in particular you looking for?
What do you do if your of insurance sadly sometimes that happens people
Have health problems and they can’t get written a policy what should someone do then if those don’t work
Depending on age sometimes final expense is the next option if one doesn’t qualify for life insurance. The other is annuity if one has capital to work with along with some long term care. Making sure the other partner is insured or other family members helps as well.
Annuity you can borrow from? I like that. Yes partner perfect suggestion. What is final expense is that like a way to fund an amount for final death expenses only and you can borrow from that as well?
@@shannonperez9408 the purpose of an annuity is to provide income for life guaranteed. The function of borrowing doesn’t exist in any annuity that isn’t what it’s used for.
Final expense is referring to final costs of death to make sure there is something left for the individual that didn’t qualify for life insurance.
Your question was about not qualifying for life insurance what do you do next. The next best thing in terms of protecting one’s life would be those options and I also mentioned long term care.
from velocity banking now also on the bandwagon of I B? Q: where is all the cash held? if we have money into IB what bank is holding the cash? certainly NOT the person that owns the paper into this insurance? where does all the cash go that people"save"?
Gets held with the insurance company which practices sound money lending. For every dollar of life insurance that is insured on an individual the insurance company has to have 1.03 in reserves in what’s a called a general account. There are also associations every state has that also provides additional protection for the people who have their money saved with life insurance.
The insurance company established a contract between the insured and the insurer so yes the paper gives me ownership of my policy just like when I buy a house there is a piece of paper that says it’s mine. Just like when I open a bank account and there’s a price of paper that says it mine. Works the same with insurance it’s how the law works
Unlike banks today when you save your money in a bank the bank practices fractional reserve lending which is why they can only insure up to 250k and another reason why you can’t just pull a bunch of money at once. There are limitations even tho it’s your money.
@@DenzelNapoleonRodriguez
I have been watching you from the very beginning when you were in mom's house on the tiny white board. I appreciate the growth and honesty and that's why I contribute to the kingdom. An emergency came up so I missed the live event but I look forward to the continued growth.🙌🏾🎉
Thank you for sticking with me all this time. Let’s connect reach out I want hear about your progress over the years.
Denzel@buildertocontributor.com
is there a way to bypass the commissioned salesperson and buy the IBC-specific CV policy directly from insurer?
No There is always an agent involved in the process of purchasing whole life insurance. The insurance company uses licensed life insurance agents to distribute policies. So if you call a life insurance company there either not going to know what you are asking for or they will refer you to an agent that may or may not know about the strategy.
Good question
no , this is THEIR commission. ha ha
could you send the checklist and docs? Thx
Ha! Need another like button
Caleb information please
Here is the link to work with his team - www.betterwealth.com/denzel?r_done=1
Send me your documents please.
Please email here for that request - denzel@buildertocontributor.com