Can You Borrow Money From A Whole Life Insurance Policy? - YouTube

What if I told you that you could become your own bank? And that you could borrow

money on your terms, that you can make a lot more money than a normal bank. Well

friends, my name is Kris Krohn and today we're having that conversation. Couched

inside the conversation of life insurance. And the big question is, "Can I

put money in and take money out at will?" That's a great question. Answer

coming your way next.

Let's start with answering your question. You've got a whole life insurance policy.

And you want to know, "Kris, I've been putting money in there. Can I take some

of the money out of it?" And the answer is it depends. It doesn't depend on the

insurance carrier. It depends more on the insurance agent that set you up. You see

when I invest in real estate or when I build business, I'm always using my whole

life insurance policy as my own bank. So, when you set up a whole life insurance

policy, the first thing that goes down is you have a safe place to put your money

and that is untouchable. And what I mean by untouchable is it is un-litigatable.

You put your money in a whole life policy and if someone wanted to sue you

or even frankly if the government wanted to garnish or take from you, they

couldn't. And so, this is the only and last standing impervious place on the

planet where you can store money as a store value and have it truly safe. As

opposed to putting your money in some FDIC insured bank that only guarantees

up to what? Quarter million dollars per account? So, your money becomes

untouchable. The second thing is a normal bank is only going to pay you what like,

0.1% return on your money. A life insurance policy if you get the right

one should be paying you 5% or more. Now, you're not going to get rich but I do call

that being a wise steward of your money. The third thing that your whole life

insurance policy should do is it should allow you to borrow it with ease. And

this is where you run into a problem my friend. This is why I can't give you a

straight answer. The majority of insurance agents that

set up these policies. They're incentivized to create a policy that

produces the highest Commission for them. And they get the highest Commission if

they can put your money away and make it very illiquid. Meaning you can't take it

out very easily. But on the opposite extreme, in the last decade, I've only met

3 individuals that know how to set up policies where you can dump money in

and you can pull nearly everything back out. And those are rare policies because

they don't pay a whole lot in commission to these people that set them up. But it

is what's in your best interest and it's what's in my best interest. So think

about it. I've been in the financial arena in the last decade I've only found

3. You click the link in the description below I'll introduce you to

the team I recommend for people. Because people ask me. You go to my events and

you start figuring out what I'm out and how sophisticated my investments

are. You're going to want to know who are my people. I'm letting you know you can tap

into my team right then and there. Now, if you set it up the right way, you can put

money in, you can pull it out. You can use it to support your investing. And then

you can put it right back and when you're done with your investing. In the

meantime, your money gets to grow tax-free. How cool is that?

For me, I think it's absolutely amazing. One of the things for you to be aware of

is, you need to not just find the right insurance company or the right insurance

agent. You need to find a specialized agent that is willing to write a policy

that will pay them peanuts to make sure that they give you the highest and best

advantages. And again, if you click the description link below, this the first

time I've released my team. They're a global team. It's the first time I've

actually shared them with on YouTube with the whole planet. So, that's a gift

from me to you saying, "Let's create as much value as we can for you." Coming back

to your question. Can you actually pull your money out? If you've got the right

agent and you set up your policy the right way, then you're all good. If you

didn't, you're not. What should you do? It's simple. You want to cancel this

policy and you want to transition it into a smarter policy. You will be able

to get your money out if you're cancelling the policy to transition it

into a different one. And you absolutely want to look at that because you need a

policy that is specifically designed to allow you to be your own bank. And I

highly recommend googling the book titles that are out there. People are

teaching how to how to make life insurance. Turn it into your own banking

system. And I've done that in my life because it's the best bank that I have

on the entire planet. It's not this Bank, it's not that Bank on the corner. It's my

own personal bank. It supports my investing. It supports my life. It

supports my business. And you can have that benefit too. It's awesome and the

good news is, you don't have to pay for it.

So, get smart. Get more sophisticated. Take care of that today. Hey, thank you so much

for watching today's video. I really hope that the knowledge was useful, meaningful.

I make as many of these videos as I can based on your feedback. So, if you've got

questions unanswered, post them in the comments below so me and my team can vet

that and see if we're going to make our next video on your question. In the

meantime, make sure you subscribe and ring that bell.

By doing that, it allows me to notify you every day the next video. And yes,

tomorrow there will be another video. And the next day, another one. And the next

day. And I never take a break. And the reason why is because I feel like this

information needs to get out to the world. There are so few of us that are

living truly financially free. And with this much possibility of technology and

opportunity exists out there, you got to find the right mentor and get the right

help. So on that note, you can even go to the description below. Get a copy of my

latest book. I'm giving it away for free. It'll show you how to make a million

dollars in real estate from nothing. My life insurance will only make it more

sexy.