Why Life Insurance?
The store of money in Life Insurance Policies is nothing new. There are several US based Mutual Whole Life, Life Insurance Companies that are over a hundred and fifty years old. And using the cash in these policies is nothing new either. Walt Disney, Ray Kroc, J.C. Penney, were a notable few who used this product, which was safe, guaranteed interest-bearing, liquid, and available when they needed it. You can see the results today.
Another thing that isn’t common knowledge today is what’s called BOLI, Bank Owned Life Insurance. Banks hold cash value life insurance policies. According to Investopedia, as of 2020, US banks held over $182 billion in cash inside these policies. “That’s right, where the brick-and-mortar banks have cash stored.”
The first cousin, COLI, Corporate Owned Life Insurance, is a vehicle where businesses use the same product. The byproduct being, steady growth with guaranteed interest, safe from market risk, in most cases judgment-proof, liquid, the boxes checked, leave little wonder why companies like Walmart, Home Depot, and the like use this vehicle to fund everything from liquidity issues to executive compensation.
More gold has been mined from the
thoughts of men than has been
taken from the earth.
Napoléon Hill