Can You Put a Lump Sum into a Bank On Yourself Plan?

This is the fifth installment in our series of answers to the most-asked questions we got on our recent “Ask the Bank On Yourself Advisors” online event.

This question is about whether you can pay a larger amount of premium into a Bank On Yourself policy in the early years, to supercharge the growth.

The answer is “yes,” and the big advantage is that it allows you faster access to a higher amount of cash value that you can use for a variety of purposes.

Here are three common situations where people do “lump sum” funding of their plans…

Situation #1: Debt Consolidation

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