We just completed a short, fast-paced video explaining what Bank On Yourself is and how it works, that I think you’ll find very helpful.
Click on the play button to discover…
- How Bank On Yourself grows your savings both predictably and guaranteed… even when stocks, real estate and other investments tumble
- How it can beat the pants off your best saving or investing method
- How the kind of policy used for Bank On Yourself is different from the ones Suze Orman, Dave Ramsey and 99.9% of all financial advisors talk about
- Why it’s an excellent alternative to traditional retirement plans
- How you can use it to get back what you pay for major purchases
- Where to find the money to get started
After you watch the video, I’d love to hear your thoughts and feedback – so please speak your mind below.
I read your special report and viewed your slide show, and quite frankly what details are you hiding. I still have no explicited idea about this product other than it is a life insurance policy from which you can borrow against. If you pay the money back, the policy pays dividends on the amount that has been paid in and if you do not pay back the loan, the death benefit is reduced. Instead of talking all around the program and trying to lure people into the plan, you should trust the product and smart people will figure out how good of a product it really is , if indeed it is. Your presentation reminds me of our current Health Care Debate in Washington. All the politicians say this is the best thing since slice bread, but they can not explain the details. Old saying, The Devil is in the Details?
My report is only supposed to be an 18-page summary of the concept, as is this 10-minue video overview.
I go into great detail about the specific type of life insurance policy used for this – and how it works in – in my best-selling book, particularly in chapters 4-6.
If you sincerely want to know these details, you’ll read my book.
If you’re not willing to do that, I can’t help you.
Sounds good im awaiting a personal analysis I hope the future is as bright as it seems.
i don;t consider this a video; as it is all talk; you keep everything a secret. Much like Obama is doing with his Health Care. Just trust me. I am doing right for you???
Tricked mirrors. If you don;t come out with the whole truth; people will be very suspicious; you know what i mean. I was in the insurance business for 30 years and I can’t figure out your little “secret” Makes me wonder. Was i that ignorant all that time???
For this old timer; Pam’s voice was a little hard to hear at times
Sincerely
Steven Studer
Please see my response to a similar comment made above.
And the simple answer to your question about whether you were “ignorant” during your 30 years in the insurance business is, “Yes”
But it’s not your fault. Neither this product nor the concept is taught in the industry training programs people take to get licensed.
And, again, the details are spelled out in depth in my best-selling book, which is oriented to the lay person.
Advisors who wish to learn how to design and implement these plans properly can apply to be accepted into the Bank On Yourself Authorized Training Program.
This involves extensive and rigorous training.
Pamela, I thought the video was very concise – I made my husband (he is a little hesitant) sit and watch it, so I didn’t have to try to relay and translate. I am reading the book and then will schedule my appointment. I know that in 2011, economical havoc will reign. I am trying to figure out how to redirect and keep what we have saved – and pay myself! Thank you!
Keep in mind that the Bank On Yourself Authorized Advisors are masters at helping you free up seed money to fund your policy.
When you request a free Bank On Yourself Analysis, you’ll get a referral to an advisor who can help you determine how a custom-tailored plan can help you reach both your short-term and long-term goals and dreams.
Insurance products have always intrigued me. I have insurance for one reason -if I die it goes to my family. I never considered it an investment in anything but “peace of mind”. Mutual funds, IRA’s, 401k’s and the like all have fees, tax consequences, and of course risk. All investments must have some inherit risk, even this one, I suppose, and some form of taxation. The “money in the mattress” scenario even has risk -fire, theft, loss, inflation, etc. So it is prudent to do “something” with your money. Your presentation is concise and the responses here appear real. I know I would have to read your book to fully understand this concept, and that is just a matter of buying a book. The “loan” aspect makes sense for purchases. But where is the potential tax liability in this type of investment as regards retirement? I’m sure there are many scenarios, so perhaps just an example of one, or a generality. Thanks.
It is possible to take an income from these policies at retirement with little or no tax consequences, under current tax law. This is done through a combination of dividend withdrawals and loans against your cash value.
If you’re wondering what would happen if the tax laws changed, the answer is that you’d still get all the many other advantages and guarantees of Bank On Yourself – the tax advantages are just the icing on the cake.
Check out the 18 major advantages and guarantees of Bank Of Yourself.
Hi. I have read your book and spoken to an adviser for my analysis. I am waiting for an other interview but have not had it yet. I like what I have seen so far but I am concerned about not being able to fund it. The video is good and it gives a good over view. Reading the book is the best way to get the whole picture. Thanks Jim Abrams
I felt the video was generally good but seemed way to rehearsed and set up. It was as if the questions were mechanical and not spontaneous in the least.
If it were natural and reactive, then logical questions would have or should have been asked such as having Pamela expound a bit on the loans or so called borrowing that all one to take car of the car thing or vacation thing and still have your money grow. Borrowing normally encompases interest owed on the loan and that interest typically grows until paid. This is glaring!
The fact that a glaring issue that is introduced to the listener, but then not logically brought to it’s conclusion when this video is supposed to address for said listener what Bank on Yourself is in a nutshell leaves me unsatisfied.
Outside of that the video was a decent marketing piece.
Sorry if my critique seems a bit harsh but you asked for honesty and I am being honest.
I have several questions but I am wondering why one would need several of these policies.Why can’t the original policy be added on to instead? Videos are nice but what is printed can be read over and over if not understood.I have to agree with some of those who commented that it does sound somewhat secretive. I am elderly and have had stents and bi-pass surgery so it appears I would not be eligible. I guess although you are giving advice as to how Bank on yourself works it appears you are holding back just enough information so people will feel the need to buy your book. Right?
You don’t have to read my book, but it will certainly give you more information about this product and method. If you want to understand it more, then why wouldn’t you read it? Especially since the paperback just came out and is available on this website for only $9.95.
If it turns out that you are not insurable, you can have someone that you have an insurable interest in (family member or business associate) be the insured, as explained in my book. What’s important is that you own and control the policy.
Once a policy is issued, it is difficult or impossible to “add on to it”. And, as your circumstances change, and you see the power of Bank On Yourself, people often want to start additional policies. However, a properly designed Bank On Yourself-type policy does give you quite a bit of flexibility to add additional premium.
I am half way through reading the book, I really like what I have read. I am eager to get started. I hope that I can find a plan that will fit my budget right now. Keep up the good work Pamela. Thank you Ruby
Thanks for the great feedback! Keep in mind that the Bank On Yourself Authorized Advisors are masters at helping you find the seed money to fund your plan and that you can start at whatever level is comfortable for you.
It costs nothing to find out how a plan that fits your budget could help you reach your long term and short term goals and dreams.
Maybe I am one of those individuals who are too skeptical to believe that something so beneficial can actually exist and very few people are doing it. It sounds too good to be true.
I just received the book. I hope it will enlighten more as to the details of how the
Bank on Yourself system works. When this happen, I will have the confidence that I need to change the old ways of investing.
Chesnel
is there any hope ,i am close to 70 have about 35,000 cash ,what can i do ? thank you barry
There may be hope. The best way to find out is to request a free, no-obligation Analysis from a qualified Bank On Yourself Advisor.
Hi,
sounds very interesting my only concern is that the new health care bill is going to run insurance companies out of business, what happens to your investment if this happens?
Thanks,
James
The companies used by Bank On Yourself Authorized Advisors are not in the health insurance business at all, and are not affected in any way by the health care bills.
Almost every answer is “request a free analysis” but that requires everything about me including ssn, investments, etc. I don’t give this info out to strangers.
At my age (64) I already know that life insurance is very expensive, and a rider to feed “savings” will only make it that much more expensive. I am so skeptical of everybody and every plan (including what I am in) that I am paralyzed into doing nothing. I simply cannot afford to lose or give away anymore.
I already know your response: “request a free analysis”
64 is a great age to start to Bank On Yourself. The rider that “feeds” the savings does not make it “more expensive.” Most of this rider – no matter what your age – goes to increase your equity in the policy.
Bank On Yourself Authorized Advisors have the same responsibility to keep your financial data confidential that health organizations and financial institutions have. They will not make recommendations without knowing your circumstances – that would be malpractice.
Staying in a plan you’re not happy with because you’re paralyzed in making a decision is still making a decision. I can’t help you if you won’t help yourself.
When you take a loan from your policy, the insurance company is going to charge you interest. This interest will be higher than what the money will earn in interest/dividends. So when you repay yourself, you must pay insurance company the interest first and on top of that, you try to pay yourself some interest. So you would have to pay a rate a lot higher than the going rate.
Buying additional optional paid-up insurance: Doesn’t the insurance company charge you a load? I think it is usually 3%.
The interest you pay on policy loans ultimately benefits the policy owner, as explained on pages 100 – 103 of my bestselling book. Yes, there’s a small load for the Paid Up additional insurance – it is, after all, buying you some death benefit, even if it is at the lowest possible cost.
Hi Pamela, I am so eager and interested in the BOY plan when I started to read the book. I was able to get an appointment and am now waiting for some tests to be completed so I can get started. It seems to me a godsend especially as I am considering on when to retire. I am looking forward to getting the plan and enjoying its many benefits. Thank you for this.
Nena
Your presentation was very interesting. As with any complicated proposal, it resulted in more questions than answers.
The next step is to read “the book” and get a personal analysis.
Thank you for the presentation.
Is this the same thing as a 7702 Private Plan?
I’m not familiar with the “7702 Private Plan.” However, I do know that many business owners use this as an “Executive Bonus Plan,” as outlined in IRC Section 162.
This presentation was executed in an exceptional manner. Please consider providing more visual slides to enhance and provide more specifics about the plan. Thank you for this alternative style of preparation for retirement because the economics of our country look to be devoid of actual viable infrastructure and foundation. I will need to try and read your book in the near future and request a free analysis. I would like to ask you a blunt question. How can a person become an advisor in this selective field? It sounds like a very honorable and promising career opportunity.
Thanks for the feedback!
Being a Bank On Yourself Authorized Advisor is very rewarding, but it’s also very challenging. It takes even most experienced advisors a year of full-time training and experience. In general, people without one year of experience in life insurance and financial services aren’t accepted into the training program. You can learn more here about the program and requirements.
There is no mention of fee’s or a fee structure. How much is charged either up front or over time to participate in this program?
Your question is answered here.
I watched the video. Nice words, but characterized by vague and general comments. What I want to know, where do you invest the money that is collected through this program and where can you get guarented results? Economics 101 dictates that you must invest the money somehwere where the return is greater than that which you are paying out. Otherwise, there is no reason to be in business and regardless of your flowing words, this is a business to make your company profits.
Your questions are answered here.
I watched the video after reading your book.
Bank On Yourself beats the returns of a CD? Where do these better than bank interest rates returns come from?
Thomas Ottesen asked where the insurance companies invest the money we give them that they make so much on their investments that they can afford to give us such a good return on our investment in them. The link you provided did not answer this question.
Oops! Sorry, I gave the wrong link! Here’s where you can read the details of how life insurance companies invest to get the returns that they do.
Each and every experience I have had since I read the book [Bank On Yourself by Pamela Yellen], has been mind blowing to me. Examples; Office Manager – [of the Bank On Yourself Authorized Advisor I was referred to] has been very professional, very knowledgeable and very timely too, while exchanging & helping me with A High Quality of Customer Service that is not normal in today’s business world. My assigned personal Authorized advisor, is also giving me the same high quality Customer Service, too. And, I have also received A Very Powerful Fact Based email from Pamela Yellen herself that just made me know that I want to become part of this Family of Solid Truth Loving and Caring Professionals, immediately if not sooner.
Now, you must understand, I have had such mind blowing experiences with these people even before I expressed an interest to purchase BOY. Therefore, I am doing my utmost to continue moving forward asap to actually work with my personal advisor and purchase BOY, immediately if not sooner.
Now, having ALL of the life changing information from the book plus un-believeable pleasant experiences from every person connected with BOY, I am more excited to get started than a child is to get started on Xmas morning.
Most Sincerely,
Bob Murphy
the program sounds very promising but i have alot of questions to be answered before jumping in with both feet. cost being the very first one. how the program works in detail would be the second. in most life insurance policies a monthly cost is paid.
Jacob,
All of these questions are answered on this website and in the best-selling book, Bank On Yourself. The question about cost is answered here.
Hello Pamela,
I just signed up for my first Bank on Yourself policy with the agent you sent to me. I was wondering why people buy so many policies? I heard you have more than 80 policies! Is that true? And why?
Congrats for getting started!
I think there may be an urban legend building about me – I actually do only have 19 policies. The reasons for starting multiple policies include:
I agree with one of the last reviewers. Excellent, change nothing.
Hi Pamela! Good intro, although I agree with the earlier comment that your questioner detracts from the presentation–she (in my opinion) is over theatrical, whereas your demeanor was appropriate for what, for us newbies, is a serious subject. By the way, I’m 71 and not very tolerant of too much hype.
I’ve read your good book. Some great success stories in it–but too many such stories me thinks. So I skimmed in a few places trying to get to the nuts and bolts, technical chapter. As you know, there isn’t one. I would have liked fewer family examples and more policy illustrations. For example, I’m not sure why PUARs “supercharge” policy cash value, which obviously means I didn’t understand page 65. Maybe in the next addition, you will consider including a technical appendix for those of us who like to wallow in numbers.
I’m looking forward to working with my advisor, who has now been identified for me in Charlotte, NC. Haven’t spoken to him (or his assistant) yet, but they are on top of trying to establish contact. Thanks for such a quick organizational response. That was very impressive.
I do not understand how you recover the interest and principle when you take a BOY loan. To me it seems like your policy would grow by the same amount whether you borrow money or not.
My BOY policy has cash value, and a death benefit.
I can borrow money from the general fund of the insurance company.
I can’t borrow the full amount of the cash value, but the amount that I can borrow is determined by the amount of cash value in my policy.
When I borrow from the general fund, the amount that I borrow plus interest must be paid back to the general fund. The interest rate is not fixed. It may go up or down each year.
The loan plus interest is either paid back by me, with a payment arrangement of my own choosing, or the interest is added to the loan amount each year and the total is paid from the death benefit when I die.
The insurance company pays dividends.
The amount of the dividends is the same if I borrow from the general fund, or if I don’t.
The amount of the dividends is not affected by the amount I borrow, or how I pay it back, or if I don’t borrow from the general fund.
If I don’t borrow from the general fund, the insurance company invests the money somewhere else, and still pays the same dividends.
My reasoning goes like this. Please tell me if I am correct.
Neither my cash value nor the death benefit nor the dividend is affected by if I borrow or don’t borrow from the general fund. What does make these things grow is if I keep buying more paid up addition riders.
If the amount of the dividend is X% and the amount of interest charged on the loan from the general fund is also X%, then the cost of the loan is nothing. If the dividend is X% and the loan from the general fund is (X+2)% then the cost of the loan is 2%.
If I find a loan somewhere else for (X+2%) then the net cost would still be 2%.
If I could find a loan somewhere else for less interest than the general fund charges, then it would be cheaper to get the loan from there.
I would still get the same amount of dividend.
The only advantages I see with a loan from the general fund is, it’s very easy to get the loan, and there are no hidden costs or late charges, and you can pay it back when and how you want to without messing up your credit. Also it may be less interest than you would pay elsewhere.
Some of this is correct and some isn’t. Your cash value available to borrow will be reduced by the amount you’ve borrowed against. And your death benefit is used as collateral for loans, so it would be affected if you borrow from the policy. (However, the death benefit increases because of the PUA’s.)
In theory, you could come out ahead if you could borrow at a lower rate than you can from the policy. But these policies typically have better rates than those that are commercially available AND the method of charging interest is far more favorable.
You’re also assuming that it’s a good thing to be paying interest to finance companies. Call me crazy, but I’d happily pay a few percent more interest to cut the finance company out of the deal, and to have full control of the payback schedule.
Especially when the interest I pay all ends back in my policy, as explained on page 100-103 of my best-selling book.
At a 56 year old 100 lb overweight male, I’m wondering 2 things. Is the life insurance too expensive and is there enough time to allow my cash value to grow to a large enough amount to be helpful.
Thanks
Believe it or not, at 56 years old, you’re in the “sweet spot” for policies that grow most efficiently.
But you’ll need to talk to a Bank On Yourself Authorized Advisor to see how the extra 100 pounds will affect your policy rating and/or whether it makes sense to have someone you have an “insurable interest” in (spouse, child, parent, grandchild, business partner) be the insured. You could still control the policy and the money in the policy.
You’ll get a referral to an Authorized Advisor when you request a free Analysis.
Everyone always advertises the upside making this and other programs sound like “who would not do this?!” Please be honest and explain the downside to this.
The downsides, as I explain in chapter 5 of my best-selling book are…
1. The Bank On Yourself method is the tortoise, not the hare. In our instant-gratification culture, that’s a tough one for many people who are still searching for a magic bullet.
2. There’s a start-up phase – if you decide to cancel and cash out your plan in the first couple of years, you won’t get back every penny you put in. The start-up phase is a one-time requirement that pays a lifetime of benefits.
3. There are going to be times when you feel left out. There’s ALWAYS going to be some hot investment that everybody’s jumping on. So, when your friends start bragging about the killing they’re making, and your nest-egg is growing steadily, securely and predictably, you may feel left out.
And that’s all the downsides I’ve found.
And my $100,000 cash reward to the first person who can show they use a different product or strategy that can match or eat Bank On Yourself still remains unclaimed. Take the Challenge yourself, if you’re still skeptical.
I read most of your book and find it very interesting. You made my decision to purchase a similar policy from Northwestern Mutual a good one. I am watching my cash value grow much better than all of my mutual funds over the past 20 years. Unfortunately, Northwestern Mutual is not a Non-Direct Recognition Life Insurance Company. However, I think a better way of handling loans is just to pay cash and avoid them. Yes, you are paying yourself back, but you are doing it with your own money and the loan was avoided because cash was transferred from you to someone. Anyhow, great book.
Don’t forget that you finance everything you buy, because you either pay interest to use someone else’s money… or you give up the interest and investment income you could have earned if you had kept it invested instead.
I can relate to what you’re saying. Even my traditionally structured whole life policy I started 18 years ago has outperformed my mutual funds.
Interested but…….Too much motherhood-apple pie. I have read the book and it is too vauge. I don’t recall ever seeing a financial product that did not talk about Interest rates or a rate of return or return on equity invested……. I know all situations are different but make some assumptions and comparisons. Dividends range from under 1% to over 20% annunally on companies today. Give less fluff and more solid information to make me want to dig into this further.
Bank On Yourself is far more about the return OF your money than the return ON. And the internal rate of return (IRR) on each policy is different. That said, I think you will gain a lot of insight from reading the article I wrote on the rate of return on a Bank On Yourself policy.
And As another poster noted, there is still a $100,000 cash reward waiting for the first person to show they used a different strategy or product that can match or beat the advantages and guarantees of Bank On Yourself.
Hello, I was introduced to BOY 5 years ago but didn’t go forward with a program. Now I have a meeting set up with a BOY advisor next week and am excited in finally starting my ‘Spend and grow Wealthy’ program.
I want to be clear on one thing before I go. Today we are in an economical meltdown. Since the Federal Reserve is hell-bent on printing more money thereby undermining it’s value and causing inflation, what would a BOY policy be worth, funded by my dollars, if and when our dollars are worthless because of hyperinflation? (It could go to that if the U.S. loses it’s ‘Currency Standard Status”. If thats the case, a loaf of bread could be $50 to $500; a gallon of gas could reach $300 a gallon to $?? a gallon. Or am I missing an obvious answer?
I have addressed the issues of how Bank On Yourself policies will perform in various economic scenarios.
And here’s another article you should read about that.
And keep in mind we really have no clue what will actually happen, except that it probably won’t be what we expect. Bank On Yourself has survived and even thrived for over 150 years in virtually every economic situation.
Dear Pamela, Great video! I have signed up for BOY and I am very happy with my advisor, John Montoya.
Sincerely,
Robert
Please explain the investments that the insurance companies use. Are they treasury bonds? What happens if China quits buying our bonds? What happens when the U.S. debt becomes downgraded?
I love the idea of paying myself the interest that I would be paying to another financial institution when borrowing money for major purchases. However, I would like to see a break down of what percentage of the interest I am paying goes to the insurance company for administrative costs and what percentage of the interest goes back to my policies. Does this interest I am paying go into the paid-up additions rider?
Here’s the answer to your question about how these companies invest.
Please read pages 99-104 of my book for the answers to your remaining questions. You’ll end up with the same cash value if you borrow and pay your loans back at the interest rate the company charges as you would if you didn’t borrow at all.
Video was very good in informative for the person who is interested in your program. Good job
Good attention getter. My goal is to have a steady income stream can this be structured for that?
Absolutely, Don! That’s a big reason people love this strategy. To find out what your bottom-line numbers could be if you added Bank On Yourself to your financial plan, just request a free Analysis.
Hi Pamela,
Good video, but I think it could be better if you were to go into more detail.Showing
how ones premium, loan payment and didvidend is applied and how they work together to build cash value. I think this would really get someone pumped. I know you cover this in your book, but for someone who hasn’t read it yet, it would surely grab their attention.
John
The HUGE issue: say I want to finance my car purchase… how much do I need to pay in so that I can borrow $20,000 “from myself” to buy a car. My hunch is, it is going to cost me $25,000 or more to borrow $20,000… which begs the question – why do it?
Thanks Pamela- I like your video
- I am a Swedish citizen owning a US LLC company (NV). I am 57 and would like to know about the possibility of setting up BOY either via myself or via my son (of 30 years – if he then goes in as a manager in my LLC company for to get access of US BOY), and/or via my business entity only – would this be possible for me as an SE citizen with an US entity to use an US BOY?
- If the above is doable, which is better – setting up BOY via myself or via my son (and if it is via my son, can I also be part of that account? (sorry for any language errors).
Kindest Regards
Inger Nilsson
I have to say I am a bit hesitant, because this sounds too good to be true. However; the more I speak with the Bank on Yourself representatives and read your literature I am becoming more comfortable. I am committed to seriously consider changing how I invest my money in the future.
Very nice video and informative for sure. Certainly goes away from the norm of buy term and invest the difference in mutual funds, etc. Can you do this concept with Index Universal Life as well which is basically similar but better rates of returns?
Thanks!
PS I am interested in knowing more as a potential advisor.
You can learn more here about why Indexed Universal Life is not appropriate for this concept.
Here are the details about applying to be a Bank On Yourself Authorized Advisor (for those with at least one year of full-time experience in insurance or financial services).
Pamela, your video is fine for people to get started.i read your book and recommand that all should read it to get full benefit.i’ve met a with an advisor and continueing ahead.
Pamela, I am currently reading your book and listening to the videos that I purchased. I am very interested in being a “Bank On Yourself” advisor. The video basically explains what I have been reading in the first couple of chapters. I am looking forward to getting to the meat of the subject. The video made me want to explore the program even more. Thank you! Keith
Sounds like Universal Life Insurance or an Annunity…or an prepaid life. They all suck for the consumer. So why is your product so great?
See answer below. For the life of me, I can’t figure out why people post comments on websites after admitting they have no clue what the site is about.
In Kansas and ALL other states a “insurance dividend” is not taxable as income because the insurance companies have told the state and federal gov that any dividend is simply a refund for OVER-PAYMENT of PREMIUM.
Universal life traditionally has such high fees for policy application, policy administration, and many other numerous BS fees, that it is a total rip-off to the consumer.
So, when we borrow the money from this life insurance plan that we are using as savings, what is the interest rate we have to pay to BORROW OUR OWN MONEY?
YES, I am the doubting Thomas…
As I’ve explained many times, and in detail on pages 100 -103 of my best selling book, if the right companies are used, the interest you pay on policy loans ultimately benefits you the policy owner. You will have the exact same cash value whether you borrow from the policy and pay it back at the interest rate the company charges, as you would if you didn’t borrow from your policy at all.
Furthermore, this is not universal life, which you would know if you had actually watched the video or read more than a couple paragraphs on this website.
In addition, my $100,000 cash reward to the first person who has a different product or strategy that can match or beat the advantages and guarantees of Bank On Yourself still remains unclaimed.
Hi Pamela, I’ve studied the Web site (it’s huge, and wonderfully rich with resources), read the book, listened to the audio CD you provided with the book (on which your video, above, appears to be based), and am excited by the concept.
I’m a life insurance specializing in fixed index annuities, so I have a bias in favor of them. Your web site ably compares BOY-type policies to the market, bonds, CDs, etc., but if there is a head-to-head comparison with FIAs, I’ve missed it. In general, what are the pros and cons? (Would you kindly e-mail your answer to me, in addition to posting it here?)
Thank you. By the way, I consider you to be a Master at marketing. You’ve obviously worked very, very hard to have so many personal appearances, a vibrant (and generally current) web site, a best-selling book, and a caring family, to boot. Bravo.
Thanks for the kudos, Lee.
I own two fixed indexed annuities and think they are good financial vehicles. However, I would NEVER consider them a replacement for Bank On Yourself policies!
But rather than my telling you what the differences are, I’d prefer you educate yourself. You can compare Bank On Yourself to these annuities advantage-by-advantage for yourself here.
How many of these advantages and guarantees do you WISH you had?
What is the difference between Whole life insurance and Bank on yourself policy? If you do not invest in Stocks or Bonds and Mutual funds, how does the money grow in the policy?
Thank you
Prabha.
Pamela,
I’m interested in the concept but very skeptical. I’m 62 and I wonder how this works for someone my age. I’m at the point where I have slightly more money than time
How does this work for me?
Many people age 62 and older start Bank On Yourself plans (I devote a whole chapter of my best-selling book to this).
Remember, there’s a good likelihood you’ll live another 20-35 years, so you need to take action NOW if you want to make sure your money lasts as long as you do.
The only way to find out for sure if you can benefit from Bank On Yourself is to request a free Analysis.
There’s no obligation and you won’t even be asked to buy anything during your first meeting. But at least you’ll know now, rather than looking back 10 years from now and saying, “I wish I’d looked into that 10 years ago!”