Start Your own Family Bank with Whole Life Insurance

Do You want me to tell Your people about how to start their own family bank with a Whole Life Insurance so they can start living financially well in You?

Acts 5:17-26

17 Then the high priest intervened with all his supporters from the party of the Sadducees. Filled with jealousy,

18 they arrested the apostles and had them put in the public gaol.

19 But at night the angel of the Lord opened the prison gates and said as he led them out,

20 'Go and take up position in the Temple, and tell the people all about this new Life.'

21 They did as they were told; they went into the Temple at dawn and began to preach. When the high priest arrived, he and his supporters convened the Sanhedrin -- this was the full Senate of Israel -- and sent to the gaol for them to be brought.

22 But when the officials arrived at the prison they found they were not inside, so they went back and reported,

23 'We found the gaol securely locked and the warders on duty at the gates, but when we unlocked the door we found no one inside.'

24 When the captain of the Temple and the chief priests heard this news they wondered what could be happening.

25 Then a man arrived with fresh news. 'Look!' he said, 'the men you imprisoned are in the Temple. They are standing there preaching to the people.'

26 The captain went with his men and fetched them -- though not by force, for they were afraid that the people might stone them.

Tell the people about this new Life: starting their own family bank

'Go and take up position in the Temple, and tell the people all about this new Life.'21 They did as they were told; they went into the Temple at dawn and began to preach.

Today I woke up dreaming about YouTubers teaching infinite banking or privatized baking or family banking.

I’m not sure if it’s because I binged watch on videos about infinite banking or private banking system or being your own bank or starting a family bank (one and the same concept), so much so that it dominated my subconscious while asleep.

Or it could be a direct leading from You in what I should do to add more value to people and bless billions.

My new Life direction

Because of having learned about the benefits of having your own family banking system using whole life insurance policies, I’ve desired to become a certified financial advisor so I can buy my own policies from myself and earn the commissions myself.

I also plan to share the concept with my own family members when I have practiced it myself and seen how it works. If they decide to buy, then they can buy it from me instead of from someone else, right?

I’ve no desire to sell to anyone except for those who I shared the concept of infinite banking with and who are interested to get the insurance from me so they can start their own family bank.

It seemed to me You’ve already chosen the company You want me to do business with – SunLife Grepa.

It wasn’t my initial choice and in fact, I’m still hesitant to fully commit here just because it didn’t tick half of the boxes for my requirements for a company.

But ever since I contacted this unit manager, everything had gone smoothly forward.

Yesterday, I just finished their module training on Traditional Life insurances which I plan to use and I think I’m already set for taking the licensure exam if I so choose.

Today, I would be meeting with the Unit manager and the rest of the new financial advisors, as she called us, via Zoom.

To be honest, it makes me a little scared how fast everything is going so far. I’m afraid I’m making rash decisions that will take me nowhere fast.

But I’ve never stopped praying about this and surrendering to You the whole process. So I firmly believe what’s happening is what You want to happen.

My prayer and affirmation everyday is this:

Thank You Father that in Jesus, I have wisdom, power, and love and I receive in wisdom and act in power and love on God-inspired ideas that  help me bless billions of people and earn trillions, at least $3k - $120 billions/per month, in recurring residual profits from multiple passive income rivers quickly, easily, and effortlessly, doing what I love and enjoy, working whenever and wherever I want with my family and friends in a business empire and financial dynasty God has established for me, giving me and my family throughout all generations total time and financial freedom as well as financial independence but most importantly, generating 90% tithe to fund the work of God in the world in my generation and for generations to come.

Big dreams huh?

The Value Equation

But I believe I can only achieve this dream with God and by becoming a blessing to billions, meaning adding so much value to the marketplace.

Income or money, for me, has become a reflection of the value I’m giving in the marketplace.

The more value I give, the more I’ll earn.

That’s why I’m praying for You to show me ways I could bless more people.

And I do it right now with my blog, writing these articles that share the wisdom and lessons You are teaching me so that people will be encouraged and inspired to live in health, wealth, and victory in Christ.

Also with the products I design for my shop as well as Print on demand stores.

But maybe I can do more?

Start your own family bank

One thing I can add more value is, for instance, sharing about how I, and anyone interested and determined, can start their own family bank with a whole life insurance policy.

After I woke up this morning with that dream, I searched YouTube for videos that teach Filipinos how to use their whole life insurance policy to start their own family bank but so far I’ve seen none.

So this might be a gap in the marketplace I can fill as a financial advisor, writer and blogger, and with my YouTube channel.

My challenge right now is to be able to explain the concept of the Family Bank as simply as possible so that every Filipino and anyone in the world who’s interested can learn of this wisdom You have given me and apply it in their own life.

The Benefits of a Whole Life insurance policy

This might be the way You want me to position having a whole life insurance policy, if I’m to sell it – so families can start their own family banking system where they can:

Save their emergency fund or stash their extra cash for business capital/wealth capture savings
Earn 3-5% (definitely higher than the what the banks give),
Borrow freely using their savings as collateral without having to go through all those hassles when taking a loan from financial institutions
Use their cash value as collateral to borrow capital to start a business, pay for education, buy a car or a house, use it for hospitalizations so that they pay interest to themselves and not to the banks
Grow their wealth tax-free
Have a death benefit to protect their family if something happens to them

This is really an answered prayer for me because I have been really looking for a financial vehicle where I can stash 6-12 months’ worth of my income as an emergency or contingency fund.

I wanted something that earns so much more than the bank (<0.025% per year interest, yikes!).

I also wanted something that I can easily withdraw when I need it. This is why I’m hesitant in saving with PAG-IBIG MP2 because you can’t take out the money for 5 years, even though they really give out huge interest rates even with the pandemic – 6.5%!

Thankfully, I found out that a time deposit in my Financial Coop, OCCI, allows me to use my savings as collateral to borrow from and they also give 3% per year. Not bad. That’s why I stash here now the extra money that I have in my wealth capture account. I also use this as my revolving credit line for my monthly bills and debts payment.

But it doesn’t give me any more benefit than that. However, with a whole life insurance policy, I’ve learned that you can not only do all those things the same as the benefits I got from the Coop time deposit but on top of that, I get a death benefit that I can leave as a legacy for my family for when the Lord takes me home to heaven!

Whole Life Insurance Policy vs. Term Life Insurance Policy

I thought before that having a term insurance is the wisest thing to do and getting a whole life insurance policy is just a waste of money because you can’t enjoy it until you’re dead.

Not so fun at all.

But now I know better: a term insurance does not have a cash value ( the money you can use while you are still alive). That’s why it’s so cheap.

Paying for a term life insurance, you’re essentially just throwing money away betting against the bank for you to die so your family can enjoy the death benefits of the term insurance and losing the money if you don’t. If you stay alive, the insurance company wins.

But buying a whole life insurance policy, even though it’s more expensive than the term insurance, allows you to also have cash value, the savings feature of the policy, that can add up and grow with compounding interest for 3-5% guaranteed!

This you can use while still living. Refer to the bullet points above

It just had to be designed properly so more of your cash payment (what they call “premiums”) for the insurance goes to your cash value or what they call Paid-up Additions (PUAs) or riders and less to your death benefit payments or base premiums.

Some advocate the 10/90 policy design: 10% to your base premiums, and 90% to your paid-up additions/riders/cash value (PUA).

And you fully max fund it, meaning pay the whole premiums for just 5-10 yrs and not slowly over your whole life until 100.

Can you really be your own bank with your whole life insurance policy?

Because of these benefits of having Whole life insurance policy we have discussed above, you can then start borrowing from your own insurance company with your insurance policy’s cash value as collateral for all your major purchases like cars and houses as well as investment and business endeavors and life enhancements.

You can make this whole insurance policy your own privatized banking system.

What do you do in a bank? In the bank, you can:

save
borrow money for consumer loans with a credit card
borrow money for cars and homes and educational loans, etc.
invest

You can then do all these things with your whole life insurance policy, as much as the money in your cash value will allow!

The insurance company sure charges you interest for your loan (for example 4% interest rate, usually).

But your money remains in the policy as if you never touch it, and it continues to earn the same rate of compound interest, (usually 4%), essentially making your loan interest-free!

Now, what if you pay yourself interest when you pay back your policy loan like 4%, just as you do when you borrow from and pay the bank – now you have become your own bank, earning interest, not paying it.

That’s how you start your own family private banking system.

Get your own financial education

Beware, most financial advisors won’t advise this simply because they would have less commissions. Their commissions are tied to the base premiums – the payment that goes to your death benefits. So less base premium payments = less commissions.

When I was searching for a life insurance company, I asked a financial advisor if I can have my insurance policy designed this way – 10/90, more payment goes to my cash value. After I texted that, she never got back to me. Of course.

My mama and I were laughing about it. Just proves to me, that most insurance financial advisors won’t advise this for you.

You can ask and see for yourself. They’ll advise against it because they either don’t know it can be done that way, or they don’t want to have less commissions.

I already shared that I made the mistake of getting a VUL (Variable Universal Life Insurance) because I wasn’t educated about life insurance policies.

A VUL ( insurance + investments insurance policies) has the following disadvantages that I experienced full well:

It’s called Variable cause it’s tied to the stock market which goes up and down erratically so your cash value also goes up, down, and all around! Not too fun. But if you risk it, you have a higher return. The greater the risk, the greater the reward. But the purpose of life insurance is primarily protection + savings. If you want to invest, go directly to the stock market, you’ll have higher returns that way.

When I canceled my policy, there was a pandemic which means the market was way down. So goodbye high cash value.

Poorly designed policy where more of my money goes to the death benefit side and less to the cash value

If you want to earn more in VUL, they said to really let it stay for at least 10 years. But do you really want to risk your savings and your protection with the uncertainty in the stock market?

That’s just me and my opinion.

When I got the VUL before, I knew nothing about insurance policies. I just liked it because you get to receive cash benefits every two years which means I could enjoy my insurance while still alive.

I paid 50k per year for 2 years for a total of 100k. But then in the 3rd year, the pandemic hit so I can no longer pay the premiums. So I thought I’d just cancel my insurance and get what I can.

You know how much I got back?

Just 18k in cash value!

Out of the 100k I’ve given, I only got back 18k, the rest of my money went to the death benefit portion of the insurance which I didn’t really need as a single person with no beneficiaries dependent on me.

I told that financial advisor my purpose was saving and yet she designed the policy where most of my money goes to the death benefits and insurance coverage. Why? Because she got more commission that way.

Imagine if I continued giving into it until 65. I shudder at the thought. Praise God He inspired me to cancel while it’s still early and I haven’t paid much. I just regret losing that money because I got it from the sale of Papa’s inherited land. It would have been his heritage for me now that he passed away.

Wow. Take it from me. Do not get any insurance before you have educated yourself about it. Otherwise, you’ll just be throwing money away.

Start here. Read my wealth blogs.

And read this book “What Would Billionaires do“. This book really opened my eyes to the value of whole life policies – not just for the protection – but for starting your own family bank, improving your financial destiny, and leaving a legacy of blessings.

Now your turn

Do you want to earn more than what you are earning right now?

Apply the Value Equation: Increase value production = Increase Income

The more value you give, the more you’ll earn.

Ask God how you can give more value to others.

Start with valuing your number 1 asset: your life.

Human life value is your number 1 asset that helps you create greater value in the marketplace so you can earn more.

As long as you are alive you can create something that others will need and help you earn more.

Why not insure and protect your human life value? Get a whole life insurance policy.

Why not learn how you can use whole life insurance policy not only to insure your human life value but also to use it as a savings vehicle where you can start capturing wealth to finance your future business endeavors or enhancement of life?

Ask your financial advisor about whole life insurance and how you can get one but don’t take their word for it.

Learn for yourself. Take charge of your own financial education so that no one can tell you what you can or cannot do with Your hard-earned money – only God.

And hey, maybe by the time you’re ready to get a whole life insurance policy, I’ll be a financial advisor by then. 🙂

So then maybe you can buy your whole life insurance policy from me or refer someone who might be interested? (Wink, wink)

Or if you want to just learn more about the concept of starting your own family bank, just contact me here.

I’ll help you however way I can.

Get your own financial education. Educate yourself about Insurance
Protect your number 1 asset, your own human life value. Get a whole life insurance policy.
Start your own family bank with a whole life insurance policy, change your financial future, and leave a legacy of Blessing

Dear Lord,

Thank You for showing me how I can add more value to the marketplace and bless more people. Help me tell more people how they can start their own family bank by using their own whole life insurance policy so they can better their financial life and leave a legacy of Blessing. In Jesus’ Name. Amen.

This is it for now. Till next time.

To our health, wealth, and victory – GODSPEED!