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Money. Wealth. Life Insurance.: How the Wealthy Use Life Insurance as a Tax-Free Personal Bank to Supercharge Their Savings
America’s elite have been using cash value life insurance to stockpile wealth for centuries. Used correctly, it is better described as a personal bank on steroids, and a financial bunker for tough times.To be clear, this book is not about the typical garbage peddled by most insurance agents. Rather, an alternative to the risky investment strategies taught by Wall Street.It details a highly efficient form of cash value life insurance designed to supercharge your savings and stockpile wealth. A product so powerful it’s responsible for the success of Walt Disney, JC Penney, Ray Kroc, and thousands of others.Here's what you'll •How the wealthy use this vehicle to create more wealth, take less risk, and create predictable income they can't outlive•Why banks and corporations place billions of dollars in this powerful vehicle•How I earned over 300 percent returns leveraging my life insurance policies•How you can create a safe, predictable foundation to enhance every financial decision you make•How to win with taxes and keep more of the money you makeWhile the information compiled into this book is valuable, you'll also find three case studies that show you exactly how it works. You'll be able to visually see how it grows, how it's accessed, as well as the future income that can be taken.______________Influencers of this book are Nelson Nash, his book "Becoming Your Own Unlock the Infinite Banking Concept"; Pamela Yellen, her book "Bank on Yourself"; Dwayne Burnell, his book "Financial Independence in the 21st Century - Life Insurance * Utilize the Infinite Banking Concept * Compliment Your 401K - Retirement Planning With Permanent Whole Life versus Term or Universal - Create Financial Peace"; and my Father Dan Thompson, and his book "The Banking Acquiring wealth through your own Private Banking System."I was introduced to these financial strategies at a young age, and this is book represents the effort and energy on both the part of everyone of my mentors, these authors here, as well as my own diligence in learning about and implementing these very same strategies into my personal finances.This book is designed to simplify some of the concepts surrounding cash value life insurance, such as Infinite Banking and Bank on Yourself, and make them easier to understand, stripping them down to the core benefits of cash value life insurance.
79 pages, Kindle Edition
First published January 1, 2014
697 people are currently reading
721 people want to read
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Displaying 1 - 30 of 90 reviews
May 6, 2021
Not a bad book.
The author illustrates the advantages of using a whole life insurance policy as a vehicle for creating long term wealth. The concepts are similar to R. Nelson Nash's book "Becoming Your Own Banker: Unlock the Infinite Banking Concept," and Pamela Yellen's "Bank on Yourself."
Some of the reviews have been critical because they say the book sounds like a sales pitch. So what if it does? What non-fiction author isn't trying to convince a reader of the merits of his/her ideas?
The value of life insurance is often lost on people because it's a bit of an abstraction (unlike real estate, art, commodities, stocks, etc. which are far more tangible). Fact is, a whole life insurance policy is one of a few methods whereby individuals can create and sustain wealth over a lifetime - even generations.
As the author indicates, whole life policies offer unique features:
a) a decent after-tax rate of return
b) an opportunity to diverse away from securities market risk
c) the ability to hypothecate (i.e. borrow against the equity) at reasonable rates
d) creditor protection
e) the ability to by-pass probate/estate taxes, etc.
f) flexibility (client establishes minimum amounts, withdrawal schedules, etc.)
g) it pays survivors/beneficiaries at the very time it is needed most
Criticism of the whole life strategies presented in this book originate from people who do not understand its features and advantages and who maybe have a hard time confronting their own mortality. In the words of the late Jim Morrison, "no one gets out of life, alive." Death is a certainty. "Memento mori." Once a person recognizes that simple reality, "real living" begins.
There's a certain irony here. Readers critical of Mr. Thompson's work are often persons who would benefit from implementing the strategies used in the book.
The author illustrates the advantages of using a whole life insurance policy as a vehicle for creating long term wealth. The concepts are similar to R. Nelson Nash's book "Becoming Your Own Banker: Unlock the Infinite Banking Concept," and Pamela Yellen's "Bank on Yourself."
Some of the reviews have been critical because they say the book sounds like a sales pitch. So what if it does? What non-fiction author isn't trying to convince a reader of the merits of his/her ideas?
The value of life insurance is often lost on people because it's a bit of an abstraction (unlike real estate, art, commodities, stocks, etc. which are far more tangible). Fact is, a whole life insurance policy is one of a few methods whereby individuals can create and sustain wealth over a lifetime - even generations.
As the author indicates, whole life policies offer unique features:
a) a decent after-tax rate of return
b) an opportunity to diverse away from securities market risk
c) the ability to hypothecate (i.e. borrow against the equity) at reasonable rates
d) creditor protection
e) the ability to by-pass probate/estate taxes, etc.
f) flexibility (client establishes minimum amounts, withdrawal schedules, etc.)
g) it pays survivors/beneficiaries at the very time it is needed most
Criticism of the whole life strategies presented in this book originate from people who do not understand its features and advantages and who maybe have a hard time confronting their own mortality. In the words of the late Jim Morrison, "no one gets out of life, alive." Death is a certainty. "Memento mori." Once a person recognizes that simple reality, "real living" begins.
There's a certain irony here. Readers critical of Mr. Thompson's work are often persons who would benefit from implementing the strategies used in the book.
January 24, 2018
Stunning
I am at a loss for words. Everything I’ve been told all my life has been a collection of lies and half truths. This book is really eye opening.
I am at a loss for words. Everything I’ve been told all my life has been a collection of lies and half truths. This book is really eye opening.
September 5, 2019
A short e book on how cash value life insurance can be used a part of a financial plan. The author's intent is to have one purchase a high cash value life insurance policy. He reviews the conservative nature of this instrument as compared to an unpredictable stock market. Also, the book details the tax advantages of the cash value that can be used anytime tax free. He does not compare the financial returns to a portfolio performance of various percentages of stocks/bonds/money market instruments over time. Also, there is no commentary regarding a comparison to the Roth 401K/IRA financial instruments. This would make a good addition to the book. It is worth reading.
August 9, 2017
A Must Read
Jake Thompson (a Thompson brother from another mother)has written a clear and concise explanation of why properly funded cash value life insurance is the "Swiss Army Knife" of financial products. You will be blessed in unimaginable ways if you read this book and then implement its strategy.
Jake Thompson (a Thompson brother from another mother)has written a clear and concise explanation of why properly funded cash value life insurance is the "Swiss Army Knife" of financial products. You will be blessed in unimaginable ways if you read this book and then implement its strategy.
March 1, 2022
This was a good book explaining the benefits of life insurance but I think that Nelson Nash's book becoming your own banker was a much better book. This book probably could have only been about 20 pages. I wish they would gave given resources on how to seek out this type of vehicle for people to pursue.
December 10, 2025
It’s short and to the point; only 68 pages. It’s basically an introduction to the concept to whet one’s appetite for “Infinite Banking.” There’s not a lot of nuts and bolts. For instance, Thompson doesn’t specify which type of life insurance is the best for this concept (i.e., Whole Life, UL, IUL, VUL). That can make a difference. He pushes mutual companies - and for good reason - but doesn’t truly specify why, nor does he go into the actual benefits.
The links aren’t to the items themselves but to a landing page to get your email so that you can get the links. That’s not bad, but the one interesting thing - the podcast - was a link to an audio file, so there’s no way of knowing what podcast it is and where to find more episodes. I had to do some digging to figure out where to go. I did like that it mentioned a couple of other books.
I read "What Would The Rockefellers Do?" and it’s the same stuff. I don’t remember Gunderson giving too many specifics either, but it’s been a while since I read that one.
The links aren’t to the items themselves but to a landing page to get your email so that you can get the links. That’s not bad, but the one interesting thing - the podcast - was a link to an audio file, so there’s no way of knowing what podcast it is and where to find more episodes. I had to do some digging to figure out where to go. I did like that it mentioned a couple of other books.
I read "What Would The Rockefellers Do?" and it’s the same stuff. I don’t remember Gunderson giving too many specifics either, but it’s been a while since I read that one.
August 25, 2019
I got this to see if indexed universal life insurance as mostly-tax-free investment is even still a thing at all in 2019. Apparently it is. This book says most of the same stuff as The Last Chance Millionaire; it just doesn’t go on and on about taking all the equity out of your house to do it.
However, this author lost me in the first few pages because:
- All the sales copy about the book was “blah blah 2019,” but the copyright date of this book is 2013.
- The author apparently doesn’t know the difference between “its” and “it’s” and couldn’t be bothered to hire a competent proofreader.
Take financial advice from this guy? I don’t think so.
I did read the whole thing, but it was a very high-level overview of the concept, clearly intended to entice you to write to the guy and be like, “Oh, Mr. Man, will you set it up for me???” Since I already don’t trust the guy, no.
However, this author lost me in the first few pages because:
- All the sales copy about the book was “blah blah 2019,” but the copyright date of this book is 2013.
- The author apparently doesn’t know the difference between “its” and “it’s” and couldn’t be bothered to hire a competent proofreader.
Take financial advice from this guy? I don’t think so.
I did read the whole thing, but it was a very high-level overview of the concept, clearly intended to entice you to write to the guy and be like, “Oh, Mr. Man, will you set it up for me???” Since I already don’t trust the guy, no.
January 26, 2021
Light on explanations
I bought this to follow the Nash book “Becoming Your Own Banker, 6th edition”. While this had more realistic numbers for 2021, the concepts were covered off much better in Nash’s book with far more examples and explanation. There’s also an error in the value tables in the case studies. The total insurance amount falls drastically mid-life despite no withdrawals - this isn’t possible and would have been caught if this book had been edited. This is a very short read and lacks the depth and explanations that would help a reader grasp this concept. It comes across as a sales pitch, right to the end when the author leaves his contact info so you can buy your policy from him.
I bought this to follow the Nash book “Becoming Your Own Banker, 6th edition”. While this had more realistic numbers for 2021, the concepts were covered off much better in Nash’s book with far more examples and explanation. There’s also an error in the value tables in the case studies. The total insurance amount falls drastically mid-life despite no withdrawals - this isn’t possible and would have been caught if this book had been edited. This is a very short read and lacks the depth and explanations that would help a reader grasp this concept. It comes across as a sales pitch, right to the end when the author leaves his contact info so you can buy your policy from him.
December 30, 2019
A good illustration of cash value tax free retirement but the author fails to understand why 401k investments are still a vital part of retirement
The author does a great job explaining the cash growing power of high cash value life insurance. However, I feel that the underestimates the importance of a client obtaining the 'matching' or 3% of their 401k as it is never a good idea to leave free money on the table. As a financial advisor, when I meet with new clients I make sure that they are contributing their 3% and then use any amount said 3% as a jumping off point for tax free retirement options.
The author does a great job explaining the cash growing power of high cash value life insurance. However, I feel that the underestimates the importance of a client obtaining the 'matching' or 3% of their 401k as it is never a good idea to leave free money on the table. As a financial advisor, when I meet with new clients I make sure that they are contributing their 3% and then use any amount said 3% as a jumping off point for tax free retirement options.
October 22, 2020
Money. Wealth. Life Insurance. Introduces many concepts used by wealthy Americans, Business Owners, and corporations who use High-Value Whole Life Insurance Policies to generate Protected Financial Growth.
While many criticize Permanente Life Insurance, those critics are not generating the same wealth as major financial institutions that use Permanente Life Insurance Policies to protect their financial interests.
The writer of this book, in my opinion, does a great job at simplifying the concepts behind interest crediting in a Life Insurance Policy, and what makes it even better, as a Licensed Agent myself; I can illustrate how all of these concepts are factual and reliable.
While many criticize Permanente Life Insurance, those critics are not generating the same wealth as major financial institutions that use Permanente Life Insurance Policies to protect their financial interests.
The writer of this book, in my opinion, does a great job at simplifying the concepts behind interest crediting in a Life Insurance Policy, and what makes it even better, as a Licensed Agent myself; I can illustrate how all of these concepts are factual and reliable.
June 12, 2021
Gives you an overview of Whole Life Insurance
I like the argument that the author presents for using High Cash Value While Life Insurance policies. He explains it in an easy way to understand, and gives you illustrations and real-world examples. The reason for the 3 stars is because I feel it would have been even more informative if the author had chosen to dive more into the details of structuring an effective policy. He mainly discussed how to potentially use an insurance policy to supplement compounding your wealth throughout the years. Good book for anyone new to the topic or wondering how to use it as a vehicle to compound your investments.
I like the argument that the author presents for using High Cash Value While Life Insurance policies. He explains it in an easy way to understand, and gives you illustrations and real-world examples. The reason for the 3 stars is because I feel it would have been even more informative if the author had chosen to dive more into the details of structuring an effective policy. He mainly discussed how to potentially use an insurance policy to supplement compounding your wealth throughout the years. Good book for anyone new to the topic or wondering how to use it as a vehicle to compound your investments.
March 30, 2022
The Value of Insurance
Highly recommend this book to anyone that still thinks of life insurance as something simply used to pay for one's Burial because it will enlighten you. It will open your mind to think of life insurance as a long term investment for a lifetime income, emergency fund and more.
Why have your money sitting in a bank drawing very little interest when it could be placed in a insurance policy with a high rate.?
Get this book and be educated on how banks and the wealthy protect their assets and pass along legencies to their families.
Highly recommend this book to anyone that still thinks of life insurance as something simply used to pay for one's Burial because it will enlighten you. It will open your mind to think of life insurance as a long term investment for a lifetime income, emergency fund and more.
Why have your money sitting in a bank drawing very little interest when it could be placed in a insurance policy with a high rate.?
Get this book and be educated on how banks and the wealthy protect their assets and pass along legencies to their families.
September 17, 2018
Good stuff
I’m an independent insurance agent. The wealth accumulation strategy available through properly structured permanent life insurance is real. This book explains much of it pretty well. There’s a lot more to it than just understanding the basic concept. So, if you’re interested then I suggest reaching out to someone familiar with how to set them up. The difference between a regular policy and a properly stricter one is staggering.
I’m an independent insurance agent. The wealth accumulation strategy available through properly structured permanent life insurance is real. This book explains much of it pretty well. There’s a lot more to it than just understanding the basic concept. So, if you’re interested then I suggest reaching out to someone familiar with how to set them up. The difference between a regular policy and a properly stricter one is staggering.
June 24, 2020
Easy to read
This book is very well written and easy to read. Many times financial books tend to be very technical. This author, however, concisely explained the subject matter. I'm left knowing what I'd like to implement in my own life and future retirement. I should note, that no financial advisor or insurance sales agent has ever provided information as what I read here. Glad it was recommended, I know will reccomend it as well.
This book is very well written and easy to read. Many times financial books tend to be very technical. This author, however, concisely explained the subject matter. I'm left knowing what I'd like to implement in my own life and future retirement. I should note, that no financial advisor or insurance sales agent has ever provided information as what I read here. Glad it was recommended, I know will reccomend it as well.
October 13, 2022
This was a good overview of what Indexed Universal Life plan can do for you. But it is light on details, so more research would need to be done before deciding if this plan is good for you. But if you are not familiar with this concept, this is a decent overview showing the highlights of the benefits.
It was worth reading, but as a supplement to other, more detailed research on the same topic.
It was worth reading, but as a supplement to other, more detailed research on the same topic.
April 14, 2018
A good Sourse of financial information!
It is a very good tool to have in your book case or in you kindle reading material. I think you will find that the earliest you look into financial growth the more you will see that life insurance opens all the door of a lifetime or financial stability.
It is a very good tool to have in your book case or in you kindle reading material. I think you will find that the earliest you look into financial growth the more you will see that life insurance opens all the door of a lifetime or financial stability.
July 12, 2019
This is a must-read for anyone who is interested in or intimidated by finances, savings and how life insurance works. Very short, you can read it in a couple of hours in one sitting. Believe me, you'll want to read it many times. I've actually given it to a couple of people as a gift when they've expressed interest in saving for retirement, kids college tuition, etc.
December 13, 2019
Wealth is within sight now
Great info. We are all programmed and this book helps you see the truth about the financial world. Awesome book well worth reading and following it’s advice. A must read in my opinion. Thank you for letting me see a future in such a dark world of manipulation .
Great info. We are all programmed and this book helps you see the truth about the financial world. Awesome book well worth reading and following it’s advice. A must read in my opinion. Thank you for letting me see a future in such a dark world of manipulation .
July 29, 2020
Great read!
I’ve read it in 2 days! The book is very easy to read and the author does a great job at getting his pint across in a very concise way.
The book drops many nuggets of knowledge!
This is a very good book for the average person and for professionals alike. Does in the insurance industry should and must read this book.
I’ve read it in 2 days! The book is very easy to read and the author does a great job at getting his pint across in a very concise way.
The book drops many nuggets of knowledge!
This is a very good book for the average person and for professionals alike. Does in the insurance industry should and must read this book.
August 10, 2020
This book is eye-opening. Recently I read an article on life insurance on Rateweb stating the importance of insurance in life just as the book entails. Insurance really does opens doors for financial stability for generations.
October 18, 2020
How Cash Value Life Inurance Policies Can Make You Rich
I'm glad I read this book. I never thought about using cash value life inurance polocies as a safe way to accumulate wealth. Why risk your money trying to make more money when you don't have to. If you want to inest your money with out taking heavy risks I urge you to read this short, but to the point book.
I'm glad I read this book. I never thought about using cash value life inurance polocies as a safe way to accumulate wealth. Why risk your money trying to make more money when you don't have to. If you want to inest your money with out taking heavy risks I urge you to read this short, but to the point book.
February 3, 2023
Short but profound
This book uses real life people, companies, and situations to clearly explain and prove how we should all be using life insurance to build wealth. Solid examples, facts and numbers used simply and effectively to make it so easy to grasp how to do it. As a non numbers person actually in the insurance industry myself, I appreciate the honesty in this book.
This book uses real life people, companies, and situations to clearly explain and prove how we should all be using life insurance to build wealth. Solid examples, facts and numbers used simply and effectively to make it so easy to grasp how to do it. As a non numbers person actually in the insurance industry myself, I appreciate the honesty in this book.
January 30, 2024
Incredible book! Succinctly breaks down the difference between our traditional savings systems, taxes, and banking. Outstanding break down and easy to read for the average investor. Thankful for the information. Highly recommend for anyone ready to take their family and business in a better direction.
May 1, 2024
I’m super intrigued by the concepts he talks about, but I had already learned everything in this book by spending a few hours googling the ideas and listening to a couple of podcasts. If I had this book I suppose I could have saved myself those hours and be in about the same spot. A very basic introduction to the value of cash value life insurance.
May 26, 2024
This book vaguely informs the reader regarding cash value insurance, but it doesn’t teach anything substantial that can be applied in once personal finances. It reads like a sales pitch to invest in cash value life insurance. Honestly, there wasn’t any information that couldn’t be retrieved from ChatGPT. Waste of time.
May 30, 2024
Felt like the the author was playing carrot and a stick at the beginning. I read "tell you more about that later" a bit too much. Overall good intro to the topic. I like how concise it was. It takes talent to provide substantive and concise information. Very good job on that. Having links is also genius. I would recommend this book to friends and family.
November 12, 2016
Good but not enough
I would have liked to see more about the compounding Interest, what are the fees like, the author kept on saying that you get the benefits if the insurance policy is structured right. He never compared a bad example of a policy to a good example of a policy.
I would have liked to see more about the compounding Interest, what are the fees like, the author kept on saying that you get the benefits if the insurance policy is structured right. He never compared a bad example of a policy to a good example of a policy.
April 29, 2018
Excellent read! Very thought provoking with pertinent historical perspectives.
It's time to ditch the 401k and begin building REAL WEALTH, safely& predictably! I can't wait to get the strategy started!
It's time to ditch the 401k and begin building REAL WEALTH, safely& predictably! I can't wait to get the strategy started!
September 22, 2018
Great Book!!!
A great great for anyone looking to buy Cash Value Life Insurance . Fast and easy read, written with plain English to understand the insurance policies program. Thank you.
A great great for anyone looking to buy Cash Value Life Insurance . Fast and easy read, written with plain English to understand the insurance policies program. Thank you.
December 9, 2018
Exactly How Life Insurance Works
Given many years to accumulate wealth and protect one’s family; a life insurance policy with high cash value is a guaranteed winner! Hans Scheil Author Cardinal Guide
Given many years to accumulate wealth and protect one’s family; a life insurance policy with high cash value is a guaranteed winner! Hans Scheil Author Cardinal Guide
Displaying 1 - 30 of 90 reviews