Updated over 3 years ago on . Most recent reply
What to do with a whole life insurance policy
My parents bought this for me many years ago. I'm in the process of transferring ownership to me. The cash value currently is around 24K. The death benefit is only 100,000. I know I can borrow against the cash value, but I want to wait until I have more cash in the bank to get into syndications (which usually requires at least 50K).
What can I do in the meantime with this policy?
Also, is there a way to increase the death benefit?
Most Popular Reply
Taking policy loans and investing is essentially what infinite banking is.
I load up quite a bit and take the loan right after to invest.