Welcome
InCareLife Services Inc
protect, save and grow while lowering risk...
What is Infinite Banking?
The Infinite Banking Concept (or IBC) is the process by which one becomes their own banker, as taught by the late Nelson Nash. In his definitive book on the subject, Becoming Your Own Banker, Nash explains how whole life insurance policies uniquely function as dividend-paying assets through accrued equity; And the many creative ways one can utilize this liquid cash value, such as:
- Creating one’s own tax-free lending system to finance large purchases (i.e. a car or a home), independently of commercial banks and lenders
- Generating personal wealth (as with stocks or cryptocurrencies, but without the volatility and with the added utility of protection for one’s beneficiaries)
- Using these practices for business financing
How the Infinite Banking Concept Works
As Nash famously taught, the equity or cash value(s) specific to whole life insurance policies serve as collateral for all policy loans. So long as premiums are current, the policyholder simply calls the insurance company and requests a loan against their equity. The insurer on the phone won’t ask what the loan will be used for, what the income of the borrower (i.e. policyholder) is, what other assets the person might have to serve as collateral, or in what timeframe the person intends to pay back the loan. The checks for these loans are often sent out as soon as the next business day.
In contrast to term life insurance products, which cover only the beneficiaries of the policyholder in the event of their death, whole life insurance covers an individual’s entire life. When structured properly, whole life policies generate a unique income stream that increases the equity in the policy over time.
What Problem Does IBC Solve?
In today’s world, one driven by the convenience of consumption, too many take for granted our nation’s purest founding principles: freedom and justice. Most people never stop to consider how the products of their bank fit in with these virtues. So, we pose the simple question, “Do you feel liberated or justified by operating within the constraints of commercial lines of credit?”
Mission Statement
Our mission is to educate and inspire all people to take charge of their financial lives by reclaiming the banking function from outsiders, because this step is pivotal in the pursuit of individual liberty, fully realized.
My story
After serving my clients/friends to the best of my ability within the traditional financial services industry for over two decades, it wasn't until the pause caused by COVID that I really looked back over my clients' successes. Many could be highlighted. To be honest, though...most gains, it seemed, were really a function of good timing. Little was from smart asset allocation or even product selection, etc. Back in 2008, I recalled being given a black book with a combination on it. I shared it with half a dozen existing clients and a few thought it was the thing to do. So...we did it. I proceeded for another 12 years as a financial advisor. Those few specially designed, dividend-paying whole life insurance plans from a mutual company have become the standout of my career. The process by which those types of plans are utilized is what I will focus my time on going forward for the next two decades. As I continue to expand my understanding of both Austrian Economics and the Infinite Banking Concept, it has become clear that I no longer need to be a registered securities representative, and as a result have given up my Series 6, 63, 7, and 65 licenses. I find myself smiling more as I help my clients understand the certainty they can have as they take over the banking function in their lives. I hope to earn the trust of new clients as I share my story and the guarantees of the Infinite Banking Concept for generations of users.
Mark
