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Mastering Money

Tune into one of the best retirement shows on the radio! Mastering Money is hosted by Certified Income Specialist™ and best selling author, Steve Jurich (pronounced Jur-itch). Steve is an experienced 20 year veteran of financial services and is licensed in securities, insurance, and real estate. He is a Certified Annuity Specialist® who reviews up to 2700 annuities on a regular basis. As a fiduciary, Steve’s clients enjoy access to the services of Fidelity Institutional, member FINRA, SIPC.
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Apr 22, 2015

It comes as a surprise to many that U.S. banks are some of the biggest buyers of cash value life insurance in the world. Because of the guarantees, safety level, and tax advantages, over 64% of banks now buy high cash value life insurance for their reserves. Bank ing regulations allow banks like Bank Of America, Wells Fargo, and JP Morgan Chase to use cash value life insurance as bank reserves, insuring their employees and executives. Have you heard of the "770 Account", or "Bank On Yourself", or "Overfunded Life?"  These are all marketing terms for the same concept, which simply involves systematically reducing the death benefit of a high quality cash generating policy in order buy less life insurance and build up more cash. Constructed properly, the policy owner may then access cash values with tax free policy loans at exceptional rates of income. Steve and Sinclair analyze and compare on today's Mastering Money.