What the experts don’t know about Bank on Yourself policies, part 2

Did you see part 1?

policywithnote

Comments

  1. how much money did you put into the policy besides the annual premium?

    • Pamela Yellen says:

      This policy was started long before I found out about Bank On Yourself. I paid no additional money into the policy – other than the base premium of $4,975.

      The policy doesn’t allow me to do that, even if I wanted to.

      A Bank On Yourself policy is designed from the get-go to allow you to put additional premium in, which turbo-charges the growth of both your cash value AND death benefit.

  2. Kindra Whomsley says:

    How many years did you hold this policy? Would it be possible to show one hypothetical example of a policy over time? Basically a table with all the information shown in the statement above, but for each year over the course of say 20 or 25 years. I understand that all policies are different but such a quantitative example would go a long way in people understanding the Bank on Yourself concept and what to potentially expect.

    Looking forward to it.

    • Pamela Yellen says:

      The chart below illustrates the exponential growth in a sample policy over a 36 year period:
      36 Year Growth Chart
      You are correct; no two plans are the same. To find out the bottom-line results you could get with a Bank On Yourself plan, request a free Analysis and referral to a knowledgeable Bank On Yourself Authorized Advisor.

  3. Why use this type of Whole Life policy instead of an Equity Indexed Universal Life policy?

    • Pamela Yellen says:

      No other type of life insurance policy comes with as many guarantees as whole life. The only element of a whole life policy that isn’t guaranteed is the dividend.

      Equity Indexed Universal Life has been over-rated and has caused problems, with more problems to come, I predict.

      Besides, the last thing most people need is more equities (and if they do want them, there are far more cost-effective ways to own them).

      What most people need is a solid base of savings that aren’t exposed to the risks and unpredictability of stocks and mutual funds.