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/
🎙️ WEALTH WITHOUT BAY STREET LINKS:
Learn how Canadian are Implementing Infinite Banking for Free Here: https://www.wealthwithoutbaystreet.com/masterclass
Podcast Website: https://www.wealthwithoutbaystreet.com/
Follow us on Facebook: https://www.wealthwithoutbaystreet.com/fb
Subscribe to our Youtube Channel: https://www.wealthwithoutbaystreet.com/yt
Book a 15-minute call: https://www.wealthwithoutbaystreet.com/15mincall
Re-think Your Thinking – The Backwards Bicycle: https://www.wealthwithoutbaystreet.com/backbike
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://www.wealthwithoutbaystreet.com/dayofnelson
🤝 Join Our Community! https://www.wealthwithoutbaystreet.com/community
Check out our other Channel for more content: https://www.wealthwithoutbaystreet.com/bankersvault
📚 IBC RECOMMENDED BOOKS
https://www.wealthwithoutbaystreet.com/books
📽️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
EVA – Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet
