E64: How to Become Your Own Banker with a Mutual Life
In this episode, we will discuss the importance of working with a mutual life insurance company, and how to start thinking like an owner instead of a depositor.
A mutual life co., is one of the fundamental pieces of private family financing. You see, whenever you buy a policy from a mutual life insurance company, you become an owner of the company; You’re not a customer of the company anymore you’re the owner. We discuss this and explain all the moving parts. Listen now to learn more.
Topics on Using a Mutual Life Insurance Company:
- The basics of what a mutual life co., is and how to think about it
- How a mutual life co,. fits into infinite banking and why it’s the best fit
- Being a depositor versus being an owner
- Banks versus insurance companies and how they’re the same and different
- One of the most common questions we’re asked what why its such a good one to ask
- What a mutal life co., is and isn’t; what they do and what they don’t do
- When changing perspectives yields big dividends
Whenever you buy a policy from a mutual life insurance company, you become an owner of the company; You’re not a customer of the company anymore you’re the owner.A mutual life insurance company, simply refers to the relationship a policy holder has with the owners of the company. So, in a mutual company, the only way to obtain ownership is through buying, participating whole life insurance policies..Essentially, a mutual organization of people coming together with a common purpose, you know, taking care of each other.
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