FREE report 7 Simple Steps to Becoming Your Own Banker - http://7steps.ca/
EPISODE 100! Today is a milestone for all of us at Wealth Without Bay Street and Ascendant Financial. 100 podcast episodes released of the Wealth Without Bay Street. Thank you to all of our listeners who have journeyed with us and we hope that you have gotten value from our show as you walk on the path of Becoming Your Own Banker.
In this episode, we talk about the taxation of policy loans in Canada. It is important to know your whole life insurance policy and how you can have a guaranteed loan provision through your policy. Learn about the Adjusted Cost Basis of your policies and the Net Cost of Pure Insurance, which can cause problems for you down the road.
IN THIS EPISODE, YOU WILL LEARN:
0:00 Introduction
1:38 Knowing Your Policy
3:07 Adjusted Cost Basis
6:44 What is NCPI
11:41 Relationship Between NCPI and ACB
14:50 Forfeiting the Policy
16:33 Withdrawing the Policy
18:18 Materializing Death Benefits
21:06 Collateral for Loans
25:29 Do Not Do Business With Banks
31:41 Dynamic Capital Adequacy Testing
38:08 More About Policy Loans
Get The FREE special report 7 Simple Steps to Becoming Your Own Banker - http://7steps.ca/
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39. Interest Rates Vs. Interest Volume when Becoming Your Own Banker
38. The Five Phases of The Infinite Banking Concept
37. The True Need for Life Insurance Plus The Power of Infinite Banking
36. The Infinite Banking Wealth Consultant Who Started As A CPA
35. Corporate or Personally Owned IBC Policies in Canada (Infinite Banking)
34. Get #wokebynate and Control The Banking Function
33. The Four Characters in the Financial Play, The Bank Owner, Banker, Borrower and Depositor
32. The Fuel You Need To Reach Your Businesses Vision
31. What is The Perfect Investment? Infinite Banking For The Win!
30. Gaining Financial Freedom With The Infinite Banking Concept - Client Series
29. Nelson Nash’s Final Message For Infinite Bankers with Carlos Lara
28. Infinite Banking Concept And The Cashflow Ninja
27. The Infinite Banking Concept Suits Everyone - Client Series
26. CPA Solutions For A Business Owners Whole Life
25. Client Series - Embracing the Concept of Infinite Banking
24. Client Series - Five Years With The Infinite Banking Concept
23. Client Series - Experiencing The Power of Infinite Banking
22. The Power of Policy Loans
21. Real Estate Investing with Infinite Banking
20. Profit Is A Responsibility
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