For any of you who are not familiar, Curtis Ray promotes a system of using leveraged loans to then fund an IUL.
He specifically shows Mutual Of Omaha as his IUL carrier. His concept is similar to the Infinite Banking Concept where an insurance policy's cash value is used for other purposes, such as paying off debt, buying a new car etc. The MPI system however advocates taking out a loan and reinvesting it to an IUL.
My question is this: It seems to me 2 policies would be required. A whole, or permanent policy to act as "The Bank", then an IUL (Let's assume Mutual Of Omaha), to act as the IUL that receives the loan proceeds.
Since nowhere do I see any mention of multiple insurance carriers in his presentation, I am wondering if he is doing one of 3 things:
A-Is he using 2 different carriers? One for Permanent. One for IUL
B-Is he using only Mutual Of Omaha, but still 2 policy's from them? A whole and an IUL?
C- Has Mutual of Omaha developed a product that acts as a whole life policy, which can then be borrowed against, and have proceeds moved into an IUL all somehow in someway in the SAME product?
Any help would be appreciated!
He specifically shows Mutual Of Omaha as his IUL carrier. His concept is similar to the Infinite Banking Concept where an insurance policy's cash value is used for other purposes, such as paying off debt, buying a new car etc. The MPI system however advocates taking out a loan and reinvesting it to an IUL.
My question is this: It seems to me 2 policies would be required. A whole, or permanent policy to act as "The Bank", then an IUL (Let's assume Mutual Of Omaha), to act as the IUL that receives the loan proceeds.
Since nowhere do I see any mention of multiple insurance carriers in his presentation, I am wondering if he is doing one of 3 things:
A-Is he using 2 different carriers? One for Permanent. One for IUL
B-Is he using only Mutual Of Omaha, but still 2 policy's from them? A whole and an IUL?
C- Has Mutual of Omaha developed a product that acts as a whole life policy, which can then be borrowed against, and have proceeds moved into an IUL all somehow in someway in the SAME product?
Any help would be appreciated!