What Is Bank On Yourself? Learn from Its Founder

We added this article to our website because there are so many misconceptions about what Bank On Yourself is. This page explains what Bank On Yourself is, straight from the creator of Bank On Yourself, Pamela Yellen.

This page covers a lot of territory. You can read it straight through from beginning to end for an organized explanation of what Bank On Yourself is. Or you can skip to the sections that interest you most, using these links:

Bank On Yourself Is a Safe Wealth-Building Strategy

Bank On Yourself gives individuals and families a way to bypass the often-turbulent volatility of the stock market to grow wealth safely and predictably, using the compounding power of supercharged dividend-paying whole life insurance policies.

Bank On Yourself is a strategy that is being used by hundreds of thousands of folks across North America to guarantee the growth of their retirement savings and emergency funds, to provide needed cash for business expansion and college expenses, and more.

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Bank On Yourself Is About Self-Reliance and Financial Freedom

Pamela Yellen chose the name “Bank On Yourself” for this concept because using this strategy allows people to pull themselves out of economic bondage and move toward freedom and economic sanity. Where they had been seduced into banking on the government, Wall Street, and financial institutions to cover their backs, Bank On Yourself “revolutionaries” are now banking on themselves – their own efforts, resources, and their own good sense – to keep their families safe and financially secure. They’re no longer pawns being manipulated by faceless fat cats with self-serving agendas.

This Free Report reveals how, using Bank On Yourself, you can bypass Wall Street, beat the banks at their own game, and take control of your financial future.

Here Are 10 Benefits of the Bank On Yourself Strategy

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There are benefits to using the Bank On Yourself strategy that simply aren’t available with traditional investments. Which ones of these are of greatest interest to you?

1. Using the Bank On Yourself strategy, your principal and gains are protected and locked in during down markets

Your money isn’t even in the market. Your money is in a dividend-paying whole life insurance policy. Its growth and safety are guaranteed by some of the oldest and financially strongest companies in the world: life insurance companies.

2. With Bank On Yourself-type policies, you get guaranteed, predictable growth

There’s none of the volatility you’ve come to think is normal – the ups and downs you have with the stock market, real estate, precious metals or commodities.

Let’s face it: You really don’t know what your market accounts, precious metals, or real estate will be worth tomorrow – let alone 10 or 20 years from now. Using the Bank On Yourself strategy, you’ll know exactly the guaranteed minimum value of your nest egg at any point in the future – even before you decide to purchase a policy.

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3. The Bank On Yourself strategy means the growth of your money is more efficient with each passing year

Because the money in your policy grows at a compound rate, it has an exponential growth curve. It is guaranteed to grow by a larger dollar amount each year. And remember, you’ll never have a down year!

4. The Bank On Yourself strategy is far safer and far more practical than buying term life insurance and trying to “invest the difference”

The idea of buying term life insurance and investing the difference assumes there will come a time in your life when you won’t need life insurance, because your investments will have grown so much they’ll provide all the cash you need. But two market crashes of 50% or more – just since the year 2000 – show the folly of risking money you really can’t afford to lose.

5. With the Bank On Yourself concept, you have tax advantages

The money in a Bank On Yourself-type policy grows without being taxed. And if you do it properly, you can withdraw retirement income from your policy without owing income tax on it. There is also a death benefit that passes to your loved ones or favorite charities, income tax-free.

6. Bank On Yourself-type policies give you unparalleled safety

A multi-layered safety net, including oversight by 50 state insurance commissioners, gives your Bank On Yourself-type policy rock-solid safety. And that doesn’t even include the massive cash reserves insurance companies are required by law to maintain.

7. Bank On Yourself is a strategy for any economy

If ever there was an all-purpose wealth-building strategy that will work in any economy, Bank On Yourself is it. It has proven its strength over nearly two centuries and has weathered the booms and busts of the Great Depression, the 1980s, and the Great Recession, to name a few.

8. Bank On Yourself-type policies give you quick access to your money

Need money now for an emergency? Pick up the phone, call the insurance company handling your policy, and tell them you need money. They’ll ask you just two questions: (1) “How much do you need?” and (2) “Where should we send the money?”

You can borrow 85% to 90% of your policy’s cash value without completing an application and with no processing fees whatsoever. And you’ll have a check in your hands – or money will be wired into your bank account – in just a very few days.

9. The Bank On Yourself concept allows you to use your money without liquidating (selling) your assets

Your life insurance policy stays intact when you borrow against it. If you should pass away with a loan outstanding, the loan balance will simply be deducted from your beneficiaries’ death benefit.

And with the right kind of life insurance policy, your policy values can continue to grow as if you hadn’t touched a dime of it – even with an outstanding loan. That’s the power of the Bank On Yourself strategy.

10. Using the Bank On Yourself strategy, you – not your 401(k) plan administrator or the government – are in control of your money

Try getting money out of your 401(k), and you’ll discover your account has more strings than Pinocchio. But using the Bank On Yourself strategy, you can access your money whenever you choose, and you even decide how and when to repay the money, so it’s available next time!

Learn why Bank On Yourself is simply the best way to build long-term wealth.

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Bank On Yourself Is the Name of Our Company

Bank On Yourself is a company that helps people achieve their financial goals and objectives … such as creating a retirement nest egg, saving for college, and building a safe emergency fund.

We teach people how to bypass the stock market and use high early cash value dividend-paying whole life insurance policies with specific riders, combined with some sound financial principles you didn’t learn in school.

The mission of Bank On Yourself is to educate Americans and help them achieve financial security and peace of mind.”

How the company known as Bank On Yourself began

In 2002 Pamela Yellen formed a corporation whose sole purpose was to educate both the public and the nation’s financial advisors about the Bank On Yourself concept.

But the story actually began several years before the founding of the company. Pamela found herself in the same spot you may be in right now …

She was frustrated and disappointed with traditional financial planning and investment strategies. (Can you identify?)

Then one of her colleagues introduced her to the strategy she now calls Bank On Yourself.

The concept sounded intriguing, but it also sounded too good to be true. Pamela spent months investigating the strategy before trying it out with her family to see if it would really work.

What she discovered was when the life insurance policies that the strategy is based on are properly designed and structured, the concept works exactly as expected! … But policies that are not structured properly can lose their tax advantages or grow much more slowly – or both. (She found that out the hard way.)

The Bank On Yourself concept is very powerful, and as Pamela shared the concept with her friends, family, and associates – and they wanted the safety and guaranteed growth that are built into this strategy – she realized they all needed well-trained licensed financial experts to assist them in implementing the Bank On Yourself concept. But there were very few financial advisors who understood all the technical details.

And that’s when Bank On Yourself – the company – was born. “What to do” plus “how to do it” began coming together as Pamela used her newly-created company to rally financial insurance advisors, help train them in this relatively unknown but oh-so-powerful concept and send them out to tell the world!

In the years since the company began, Bank On Yourself has grown into an organization that has helped more than 500,000 families nationwide. And thanks to Pamela’s vision and foresight, there is now a network of about 200 specially-trained Bank On Yourself Authorized Advisors to help those in the US and Canada properly implement this concept so that they can maximize the results they receive from it over their lifetimes.

Learn more about the Bank On Yourself organization here.

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Bank On Yourself Is in the Titles of Two New York Times Bestselling Books

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The first book about the Bank On Yourself concept, appropriately titled Bank On Yourself, landed on the New York Times Bestseller list in 2010.

The more recent and up-to-date book, The Bank On Yourself Revolution, last updated in 2016, is also a New York Times Bestseller.

The two Bank On Yourself books have been widely acclaimed by financial planners, estate planning attorneys, and “ordinary” folks who have benefitted financially by implementing the Bank On Yourself strategy. For example, Joe Sugarman, entrepreneur, author, and founder of BluBlocker Corporation, said:

Pamela Yellen should definitely win a Nobel Prize. With her guidance, you can grow a nest egg into a small fortune without the risks of conventional investments and political uncertainty.”

Another ringing endorsement came from the late John F. Goodson.

Who was John Goodson? Oh, … just the president of the College of Preventive Law. … and chairman of the Faculty of the College of Estate Planning Attorneys. … and founder of the law group that bears his name.

Here’s this highly-esteemed expert’s review of Bank On Yourself:

“I have read and used Pamela Yellen’s previous book introducing the creative concept to ‘Bank on Yourself.’ Her new book expands the ‘how-to-do’ of the process.

“We have used her advice for many of our clients who now have put away millions of dollars that are available for the generations of their family – all protected from estate taxes, probate involvement, and creditor lawsuits.

“I also like the availability of family money for convenient loans. This technique works many times better than conventional savings and retirement plans.”

Wayne M. Barrett, the publisher and editor-in-chief of USA Today Magazine, went so far as to say…

Most financial ‘experts’ make the simple complex; Pamela Yellen does just the opposite. Her advice to our readers always has been spot-on. Many people are many thousands of dollars richer, thanks to her.”

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Recap: What Bank On Yourself IS:

In this first of two articles, we explained what Bank On Yourself is:

What Bank On Yourself Is NOT

If reading this article left you wondering, “But I thought Bank On Yourself was …,” be sure to read our companion article, What Bank On Yourself Is NOT for the flip side of the Bank On Yourself coin. You’ll get to read what our detractors think they know that just ain’t so. You’ll discover the difference between Bank On Yourself and some of the other exciting and mysterious strategies you may have read about … and more.

Take the Next Step to Learn More About Bank On Yourself

If you’d like to learn more about Bank On Yourself and how some mighty happy Bank On Yourselfers are using the strategy, download our free Special Report, 5 Simple Steps to Bypass Wall Street, Beat the Banks at Their Own Game and Take Control of Your Financial Future.

And if you want to talk to someone knowledgeable about Bank On Yourself, ask for a free review of your situation and a personalized analysis and report based on your specific situation. You’ll be referred to a Bank on Yourself Authorized Advisor – a licensed life insurance agent with advanced training in this concept – who can answer all your questions. And when you’re ready, the Advisor will handle all the details.