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

January 31, 2009 by Pamela Yellen 

Did you see part 1?

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Comments

This post currently has 6 responses.

6 Responses to “What the experts don’t know about Bank on Yourself policies, part 2”

  1. ben on March 25th, 2009 10:32 am

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

  2. Pamela Yellen on March 25th, 2009 12:32 pm

    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.

  3. Kindra Whomsley on March 26th, 2009 2:29 am

    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.

  4. Darren on March 26th, 2009 6:41 pm

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

  5. Pamela Yellen on April 29th, 2009 4:23 pm

    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.

  6. Pamela Yellen on April 30th, 2009 8:34 am

    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.