There\u2019s so much to love about Canada.\u00a0Well, maybe not\u00a0another soggy lower mainland\u00a0day in November.<\/p>\n
Health care, stable education system, safe schools, workable infrastructure \u2013 there\u2019s so much to love and so much to save for.<\/p>\n
In Canada, you\u2019re free to pursue your goals, make money, and save that money for a\u00a0future\u00a0rainy day. However, it\u2019s important to understand the options when it comes to saving your money. For instance, bank GICs or term deposits pay less than 1%. Stock markets can be quite volatile. And\u00a0both of these types of investments can make it difficult\u00a0to access your money when you need it.<\/p>\n
If only there were an investment that helped us make more money than banks offer without the volatility of the stock market, and with the liquidity you need to access cash in the future.<\/p>\n
Wait, there is! It\u2019s called Bank on Yourself!<\/p>\n
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The Truth Behind the Bank On Yourself Method<\/strong><\/p>\n What it is:\u00a0<\/em>Bank On Yourself involves the purchase of a whole life insurance policy.<\/p>\n What it means:\u00a0<\/em>The whole life policy allows you to invest dollars (\u201cpremiums\u201d) in a tax exempt product that can grow at a much higher rate than what the bank offers you.<\/p>\n How it works:<\/em>\u00a0People\u00a0apply for and then\u00a0save money in a life insurance policy that\u00a0can later\u00a0be\u00a0usedto fund purchases\u00a0or retirement.<\/p>\n In english:<\/em>\u00a0Bank On Yourself means you\u00a0invest in and then\u00a0borrow from your own life insurance policy, which you can then pay back\u00a0at your discretion.\u00a0It effectively cuts out the bank and lets\u00a0you save and borrow at your own discretion.<\/p>\n <\/p>\n Here are three key benefits of the\u00a0Bank\u00a0On\u00a0Yourself strategy:<\/p>\n As with\u00a0all\u00a0whole life insurance, the\u00a0Bank\u00a0On\u00a0Yourself strategy\u00a0still ensures your beneficiaries will be paid out at the end of your life.\u00a0But more importantly, your whole life policy\u00a0will\u00a0earn participating dividends on a tax free basis\u00a0during<\/em>\u00a0your lifetime. This dividend allows you to grow your policy into an amount that can help you when you need money for\u00a0retirement\u00a0or other large purchases.<\/p>\n A lot of us are completely aware we need to save money for retirement, but not many of us have the time or resources to devote to finding unique funds that suit our goals. There\u2019s no sure thing, and even if there were, the amount of time and research required to find it yourself probably wouldn\u2019t be worth it. That\u2019s why the\u00a0predictable and stable return of Bank on Yourself\u00a0is so appealing. It\u2019s been used by Canadians\u00a0to grow policies safely and consistently for over 100 years!<\/p>\n If you own a home, the bank will lend you money, right? Well, to a certain extent they generally will (60% to 70% is standard).<\/p>\n And if you borrow money from the bank using your home as collateral, that doesn\u2019t stop your home from going up in value. Your overall home value is not negatively impacted by borrowing against it.<\/p>\n Whole life works the same way, except you can usually get up to 90% value back as a loan if you need it. Your participating dividend\u00a0also continues to be earned in full even if\u00a0you borrow against the policy while you\u2019re still around to enjoy it.<\/p>\n Looking for a safe alternative investment that makes a good return?<\/p>\n Then a\u00a0Bank on\u00a0Yourself strategy\u00a0may be the best road for you.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"There\u2019s so much to love about Canada.\u00a0Well, maybe not\u00a0another soggy lower mainland\u00a0day in November. Health care, stable education system, safe schools, workable infrastructure \u2013 there\u2019s so much to love and so much to save for. In Canada, you\u2019re free to pursue your goals, make money, and save that money for a\u00a0future\u00a0rainy day. However, it\u2019s important… \n
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